OSI Systems Receives $24 Million in Orders for Cargo and Vehicle Inspection Systems and Services
October 17 2023 - 8:30AM
Business Wire
OSI Systems, Inc. (the “Company” or “OSI Systems”) (NASDAQ:
OSIS) today announced that its Security division has received
orders valued at approximately $24 million in aggregate from a U.S.
government customer. As part of these awards, Rapiscan will provide
our latest cargo and vehicle inspection systems, including
installation, training, and support. Additionally, the Company will
provide ongoing maintenance service and support on our existing
non-intrusive inspection (NII) solutions in the field.
OSI Systems’ Chairman and CEO, Deepak Chopra, stated, “We are
grateful for these awards, which underscore the faith our customers
place in our advanced technology solutions for port and border
protection. We remain relentless in our focus to deliver top-tier
imaging technology to efficiently detect prohibited cargo and the
vital maintenance and services required to maximize the efficient
usage of the deployed systems.”
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20231017827503/en/
OSI Systems, Inc. Ajay Vashishat Vice President, Business
Development 310-349-2237 avashishat@osi-systems.com
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