OSI Systems Awarded $63 Million Contract for Multiple Cargo and Vehicle Inspection Systems
17 July 2018 - 10:30PM
Business Wire
OSI Systems, Inc. (the “Company” or “OSI Systems”) (NASDAQ:
OSIS) today announced that its Security division was awarded a
contract for approximately $63 million to provide cargo and vehicle
inspection systems, including installation, operator training, and
multi-year maintenance service for an international customer.
Multiple systems are expected be deployed to screen occupied
passenger vehicles, buses, and trucks to help secure critical
national infrastructure.
“We are pleased to support the customer with advanced technology
from our Rapiscan® Systems and AS&E® cargo and vehicle
inspection product portfolio,” said OSI Systems’ Chairman and CEO,
Deepak Chopra. “We have a long history of successful cargo
installations utilizing transmission and Z Backscatter® X-ray
detection technologies for inspecting dense cargo as well as
passenger vehicles.” The Company did not disclose further details,
citing end-user confidentiality obligations.
About OSI Systems
OSI Systems 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. The Company combines more than 40 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 or any of its
subsidiary companies, visit www.osi-systems.com. News Filter:
OSIS-G
Forward-Looking Statements
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, and projections concerning matters that are
not historical facts. Forward-looking statements are not guarantees
of future performance and involve uncertainties, risks,
assumptions, and contingencies, many of which are outside OSI
Systems' control and which 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' most recently filed Annual Report on Form 10-K and
other risks described therein and in documents subsequently filed
by OSI Systems from time to time with the Securities and Exchange
Commission.
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version on businesswire.com: https://www.businesswire.com/news/home/20180717005379/en/
OSI Systems, Inc.Ajay VashishatVice President, Business
Development310-349-2237avashishat@osi-systems.com
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