#Security News: OSI Systems (NASDAQ: $OSIS) today Awarded $21 Million Contract to Provide Cargo and Vehicle Inspection Systems
HAWTHORNE, Calif. - October 17, 2017 (Investorideas.com Newswire) OSI Systems, Inc. (the "Company" or "OSI Systems") (NASDAQ: OSIS) today announced that its Security division was awarded a contract valued at approximately $21 million from an international customs agency for X-ray based cargo and vehicle inspection systems. This contract value includes a multi-year service agreement for integration and follow on maintenance and support. The Company expects to provide multiple units of its gantry-based cargo and vehicle inspection system, the Rapiscan® Eagle® G60, which provides highly-automated scanning of dense and densely packed cargo.
OSI Systems' Chairman and CEO, Deepak Chopra, stated, "We are very pleased with this award and look forward to serving this key customer through all phases of deployment from planning and construction to maintenance and follow on service and support."
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 its subsidiary companies, visit www.osi-systems.com. News Filter: OSIS-G
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.
OSI Systems, Inc.
Vice President, Business Development
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