OSI Systems Receives Orders for $10 Million to Provide Air Cargo Inspection Systems
June 14 2018 - 8:30AM
Business Wire
OSI Systems, Inc. (the “Company” or “OSI Systems”) (NASDAQ:
OSIS) today announced that its Security division received orders
from one of its European distribution partners for approximately
$10 million to provide multiple units of its RTT® 110 (Real Time
Tomography) Explosive Detection System (EDS) for parcel screening
applications.
“The explosive detection screening market as a whole has evolved
in recent years and we have experienced continued success with our
RTT 110 solution, as evidenced by the recent orders in both the
aviation and air cargo space,” said Deepak Chopra, OSI Systems’
Chairman and CEO. The Company did not disclose further details,
citing end-user confidentiality obligations.
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. 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, 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/20180614005359/en/
OSI Systems, Inc.Ajay Vashishat, 310-349-2237Vice
President, Business Developmentavashishat@osi-systems.com
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