OSI Systems Commences Operations for Mexico Screening Services Program
24 January 2013 - 12:30AM
Business Wire
OSI Systems, Inc. (NASDAQ: OSIS) today announced that screening
operations have commenced at initial sites under its multiyear
agreement with the Mexican government. Since being awarded the
program, OSI’s security division, Rapiscan Systems, has managed the
design and build of screening checkpoints and related data
management infrastructure throughout Mexico.
Deepak Chopra, OSI Systems’ President and CEO, stated, “We are
extremely pleased with the progress in this critically important
program. The implementation is proceeding well and we are excited
to be in the operational phase in Mexico. The rapid progress is a
testament to our ability to manage large scale security
initiatives, our depth of experience in delivering integrated
solutions, the versatility of our products and the flexibility of
our service offering. We expect significant revenues from this
program in the second half of our current fiscal year.”
Rapiscan Systems was awarded a six-year contract from Mexico’s
tax and customs authority to provide inspection services by
implementing a wide-ranging program of cargo and vehicle security
screening systems and services throughout Mexico. Under the
program, Rapiscan Systems expects to provide complete operations of
inspection sites utilizing x-ray screening technology. Rapiscan
Systems plans to incorporate staffing, systems integration, data
management, and maintenance support at these sites networked
throughout Mexico, including ports of entry as well as inland
checkpoints and airports.
About OSI Systems, Inc.
OSI Systems, Inc. is a vertically integrated designer and
manufacturer of specialized electronic systems and components for
critical applications in the homeland security, healthcare, defense
and aerospace industries. We combine more than 30 years of
electronics engineering and manufacturing experience with offices
and production facilities in more than a dozen countries to
implement a strategy of expansion into selective end product
markets. For more information on OSI Systems, Inc. or any of its
subsidiary companies, visit www.osi-systems.com. News Filter:
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This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements relate to the Company’s current
expectations, beliefs, projections and similar expressions
concerning matters that are not historical facts and are not
guarantees of future performance. Forward-looking statements
involve uncertainties, risks, assumptions and contingencies, many
of which are outside the Company’s control, that may cause actual
results to differ materially from those described in or implied by
any forward-looking statement. All forward-looking statements are
based on currently available information and speak only as of the
date on which they are made. The Company assumes no obligation to
update any forward-looking statement made in this press release
that becomes untrue because of subsequent events, new information
or otherwise, except to the extent it is required to do so in
connection with its ongoing requirements under Federal securities
laws. For a further discussion of these and other factors that
could cause the Company’s future results to differ materially from
any forward-looking statements, see the section entitled “Risk
Factors” in the Company’s Annual Report on Form 10-K for the year
ended June 30, 2012 and other risks described in documents
subsequently filed by the Company from time to time with the
Securities and Exchange Commission.
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