OSI Systems Awarded U.S. Customs and Border Protection IDIQ Contract Valued up to $64 million for Z Portal Cargo and Vehicle...
24 October 2016 - 11:30PM
OSI Systems, Inc. (NASDAQ:OSIS) today announced that its recently
acquired business, American Science and Engineering, Inc.
(AS&E), has been awarded an indefinite delivery, indefinite
quantity (IDIQ) contract from U.S. Customs and Border Protection
(CBP) for Z Portal® cargo and vehicle screening systems. The
two-year Z Portal sole-source IDIQ contract is valued up to $64
million. AS&E also received the first delivery order under the
IDIQ contract valued at approximately $35 million. The Z Portal
systems are expected to be deployed for homeland security
applications at multiple border locations.
“The recent AS&E acquisition immediately
broadens our offerings for customs applications with proven
backscatter-based solutions,” said Deepak Chopra, OSI’s Chairman
and CEO. “The award follows the deployment of Z Portal systems on
U.S. border crossings, where they are used to safely and
effectively screen vehicles for explosive threats, drugs, and other
contraband. We are pleased to receive this IDIQ award from CBP and
look forward to continuing to support its critical counter-drug and
anti-terrorism missions.”
About Z Portal Cargo and Vehicle Screening
Systems
The Z Portal system is the only drive-through cargo
and vehicle inspection system that uses multiple detection
technologies to provide up to six views of the vehicle under
inspection. The Z Portal system incorporates AS&E’s latest
source and detector innovations in a more compact design, enabling
improved image quality at higher throughput rates in
space-constrained locations such as checkpoints at congested border
crossings.
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. OSI combines 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 OSI Systems. News Filter:
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Safe Harbor Statement 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 OSI Systems’ 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 OSI
Systems’ control that may cause actual results to differ materially
from those described in or implied by any forward-looking
statements. All forward-looking statements are based on
currently available information and speak only as of the date on
which they are made. OSI Systems 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 factors that could cause OSI
Systems’ future results to differ materially from any
forward-looking statements, see the section entitled "Risk Factors"
in OSI Systems’ Annual Report on Form 10-K for the year
ended June 30, 2016 and other risks described in
documents filed by OSI Systems from time to time with
the Securities and Exchange Commission.
Contact:
OSI Systems, Inc.
Ajay Vashishat
Vice President, Business Development
310-349-2237
avashishat@osi-systems.com
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