Nov. 7, 2005--Rapiscan Systems, a division of OSI Systems, Inc. (Nasdaq:OSIS http://finance.yahoo.com/q?s=osis&d=t - News http://finance.yahoo.com/q/h?s=osis) , today announced that it has received a purchase order from United States Customs and Border Patrol ("CBP") for Cargo and Vehicle Inspection systems. Due to competitive reasons, the company chooses not to disclose the value of the contract or the quantity of systems ordered. The order is expected to be delivered within fiscal 2006.
The contract is part of a five year Indefinite Delivery Infinite Quantity ("IDIQ") contract executed with the CBP for the company's Rapiscan Eagle, Rapiscan Vehicle Explosives Detection System ("VEDS"), Rapiscan Radiological Threat Inspection Systems ("RTIS") and Rapiscan Gamma product lines, including respective training and support. TheIQ allows the CBP to purchase at their discretion these productsentified in the contract.
President of Rapiscan Systems Ajay Mehra stated, "We are very excited about theIQ contract win allowing us to further strengthen our ongoing relationship with the CBP. This win may result in additional orders in option contract years -- allowing us to continue our commitment to working with the federal government in securing our nation's ports and border crossings."
The Rapiscan Gamma product line detects hidden contraband, including weapons, explosives, weapons of mass destruction, drugs and undeclared goods. The systems have an intrinsically lower radiation field when compared to equivalent X-ray systems. They require a smaller operational area and exclusion safety zone than other inspection systems. Rapiscan Systems has deployed numerous Rapiscan Gamma units to other parts of the United States Government and other government customers around the world. The advanced technology of the Rapiscan Eagle cargo inspection systems have been deployed by Rapiscan Systems for use at seaports and border crossings domestically and internationally. The Rapiscan Eagle is available in mobile, fixed, locally mobile and relocatable configurations.
About Rapiscan Systems
Rapiscan Systems, a division of OSI Systems, Inc., is a leading supplier of high quality security inspection solutions utilizing X-ray and gamma-ray imaging, and advanced threatentification techniques such as neutron and diffraction analysis. The company's products are sold into four market segments: Baggage and Parcel Inspection, Cargo and Vehicle Inspection, Hold Baggage Screening and People Screening. The company has an installed base globally of more than 50,000 security and inspection systems. The Rapiscan Systems product line is manufactured at four locations and supported by a global support service network. For more information on Rapiscan Systems, please visit www.rapiscansystems.com http://www.rapiscansystems.com.
About OSI Systems, Inc.
OSI Systems Inc. is a Hawthorne, Calif.-based diversified global developer, manufacturer and seller of security and inspection systems, medical monitoring and anesthesia products, and optoelectronic devices and value-added subsystems. 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. OSI Systems 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 http://www.osi-systems.com.
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements include information regarding our expectations, goals or intentions about the future, including, but not limited to, statements regarding future orders by the CPB. The actual results may differ materially from those described in or implied by any forward-looking statement. In particular, there can be no assurance that the CPB will place additional orders under theIQ contract. Other important factors are set forth in our Securities and Exchange Commission filings. All forward-looking statements speak only as of the date made, and we undertake no obligation to update these forward-looking statements. Contact: OSI Systems, Inc.Jeremy Norton, 310-349-2237orJefferson ConsultingAmy Talley, firstname.lastname@example.org mailto:email@example.com