Rapiscan Systems Awarded Cargo and Vehicle Inspection Systems Contracts Totaling Approximately $17 Million
Torrance, CA (1/27/2009) Rapiscan Systems, Inc., a leading global supplier of security inspection systems, announced today that it has recently received contracts totaling approximately $17 million from two undisclosed customers for cargo and vehicle inspection screening systems. The awards are for the Companys Rapiscan Eagle Portal high-energy X-ray and Rapiscan GaRDS (Gamma Ray Detection System) cargo inspection systems.
The systems are part of the Company's Cargo and Vehicle Inspection line, which has experienced significant global growth and market acceptance. Demand for these products is being driven by a combination of factors, including new regulatory screening mandates, the need to better protect borders and enforcing customs regulations worldwide.
Rapiscan Systems President, Ajay Mehra, stated, "These most recent contract awards are an important validation of our strategy to be a leading provider of cargo inspection systems on a worldwide basis by providing end-to-end solutions built around our customers requirements, using a range of technologies, and delivered with a high level of in-country support and expertise." Mehra continued, "We greatly appreciate the support these international customers have shown us in deciding to use our Rapiscan Eagle and Rapiscan GaRDS products to meet their security needs."
The Rapiscan Eagle Portal is a drive-through X-ray imaging system capable of penetrating dense cargo at increased inspection rates without the impeding the flow of commerce. The system is part of Rapiscans Eagle product line of High Energy X-ray Cargo inspection systems that features mobile, gantry, portal and fixed deployment configurations. The products have been installed internationally for use by military, customs and border protection agencies.
About Rapiscan Systems
Rapiscan Systems, a division of OSI Systems, Inc. is a leading supplier of security inspection solutions utilizing X-ray and gamma-ray imaging, and advanced threat identification techniques such as neutron and diffraction analysis. The companys 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 70,000 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 .
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 the companys expectations, goals or intentions about the future, including, the companys contracts for cargo and vehicle inspection products. The actual results may differ materially from those described in or implied by any forward-looking statement. In particular, the timing, and delivery of the cargo and vehicle inspection systems may not ultimately remain in line with the companys current expectations. Other important factors are set forth in the Securities and Exchange Commission filings OSI Systems, Inc. All forward-looking statements speak only as of the date made, and the company undertakes no obligation to update these forward-looking statements.
Andrew Goldsmith
Vice President, Global Marketing
Rapiscan Systems
Tel: (703) 812-0322
E: agoldsmith@rapiscansystems.com