OSI Systems Receives $16 Million Order for Airport Security Inspection Systems

HAWTHORNE, Calif.--()--OSI Systems, Inc. (the “Company” or “OSI Systems”) (NASDAQ: OSIS) today announced that its Security division received an order for approximately $16 million from an airport customer in Panama to provide multiple security inspection platforms, including the Rapiscan® Systems RTT® 110 (Real Time Tomography) explosive detection system for screening checked baggage and the 620DV (Dual-View) checkpoint screening system for screening carry-on baggage, and follow-on service and support.

OSI Systems’ Chairman and CEO, Deepak Chopra, commented, "We are pleased to announce our first RTT award in Latin America and look forward to serving this customer utilizing our advanced baggage inspection systems that are designed to enhance airport security and passenger safety."

The RTT® employs a proprietary solid-state approach to provide high-resolution 3-D imaging, and its unique design allows the efficient inspection of hold baggage and air cargo while maintaining capability to meet the most recent threat detection standards. RTT® has passed the European Civil Aviation Conference's (ECAC) HBS EDS Standard 3 threat detection requirement and has been deployed by numerous airports and air logistics providers.

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, 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’ 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.

SOURCE: OSI Systems, Inc.

Contacts

OSI Systems, Inc.
Ajay Vashishat, 310-349-2237
Vice President, Business Development
avashishat@osi-systems.com

Contacts

OSI Systems, Inc.
Ajay Vashishat, 310-349-2237
Vice President, Business Development
avashishat@osi-systems.com