OSI Systems Receives $76 Million Order for Aviation Security Systems
HAWTHORNE, Calif. – OSI Systems, Inc. (the “Company” or “OSI Systems”) (NASDAQ: OSIS) today announced that its Security division received an order for approximately $76 million to provide airport screening solutions for a major international airport. Among the systems to be deployed are the RTT® 110 (Real Time Tomography) explosive detection system for screening hold baggage and Itemiser® 5X for detecting trace amounts of explosives and narcotics.
OSI Systems’ President and CEO, Ajay Mehra, commented, “We are extremely proud to have been awarded this contract to collaborate with a world-class airport to provide our RTT hold baggage systems. These advanced computed tomography detection systems are designed to enhance security at the airport by rapidly identifying potential threat items concealed within passenger baggage. This award is a testament to the strength of our technology and the trust the customer has in us to support our products throughout their lifecycle. OSI Systems remains committed to delivering leading security solutions that make global travel safer. Our innovative and broad product portfolio delivers the flexibility and technological edge needed to meet and exceed critical international standards, securing airports worldwide.”
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. Undue reliance should not be placed on forward-looking statements, which 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.
