OSI Systems Receives $7 Million Order for Real Time Tomography (RTT) Hold Baggage Screening Systems at Major European Airport
17 March 2014 - 11:00PM
Business Wire
OSI Systems, Inc. (NASDAQ: OSIS), today announced that its
security division, Rapiscan Systems, received an order worth
approximately $7 million to provide Rapiscan Real Time Tomography
(RTT) hold baggage screening systems and related maintenance
services for Oslo Airport.
OSI Systems CEO, Deepak Chopra, stated, "We are excited about
the selection of Rapiscan’s RTT high speed checked baggage
screening solution for use at Norway’s most prestigious airport. As
European airports upgrade their screening infrastructure to handle
increased passenger demand and comply with the latest regulatory
requirements, our RTT screening solutions are an excellent choice
as they are approved to EU’s standard 3, its most demanding
standard for explosives detection performance for equipment
providing high throughput."
About OSI Systems, Inc.
OSI Systems, Inc. is a vertically integrated designer and
manufacturer of specialized electronic systems and components for
critical applications. The Company sells its products and services
in diversified markets, including homeland security, healthcare,
defense and aerospace. The Company has more than 30 years of
experience in electronics engineering and manufacturing and
maintains offices and production facilities located in more than a
dozen countries. It implements a strategy of expansion by
leveraging its electronics and contract manufacturing capabilities
into selective end product markets through organic growth and
acquisitions. 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, for example, without limitation, the
future demand for the Rapiscan RTT or for baggage screening systems
in general. 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, 2013 and other risks described in documents filed by the
Company from time to time with the Securities and Exchange
Commission.
OSI Systems Inc.Ajay VashishatVice President, Business
Development310-349-2237avashishat@osi-systems.com
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