|[March 17, 2014]
OSI Systems Receives $7 Million Order for Real Time Tomography (RTT) Hold Baggage Screening Systems at Major European Airport
HAWTHORNE, Calif. --(Business Wire)--
OSI Systems (News - Alert), Inc. (NASDAQ: OSIS), today announced that its security
division, Rapiscan Systems, received an order worth approximately $7
million to provide Rapiscan Real Time Tomography (RTT) hold baggage
screening systems and related maintenance services for Oslo Airport.
OSI Systems CEO, Deepak Chopra, stated, "We are excited about the
selection of Rapiscan's RTT high speed checked baggage screening
solution for use at Norway's most prestigious airport. As European
airports upgrade their screening infrastructure to handle increased
passenger demand and comply with the latest regulatory requirements, our
RTT screening solutions are an excellent choice as they are approved to
EU's standard 3, its most demanding standard for explosives detection
performance for equipment providing high throughput."
About OSI Systems, Inc.
OSI Systems, Inc. is a vertically integrated designer and manufacturer
of specialized electronic systems and components for critical
applications. The Company sells its products and services in diversified
markets, including homeland security, healthcare, defense and aerospace.
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. It 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.
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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 the Company's 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 the Company's control, that may cause actual results
to differ materially from those described in or implied by any
forward-looking statement, for example, without limitation, the future
demand for the Rapiscan RTT or for baggage screening systems in general.
All forward-looking statements are based on currently available
information and speak only as of the date on which they are made. The
Company 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 these and other
factors that could cause the Company's future results to differ
materially from any forward-looking statements, see the section entitled
"Risk Factors" in the Company's Annual Report on Form 10-K for the year
ended June 30, 2013 and other risks described in documents filed by the
Company from time to time with the Securities and Exchange Commission.
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