|By Business Wire||
|January 23, 2013 08:32 AM EST||
OSI Systems, Inc. (NASDAQ: OSIS) today announced that screening operations have commenced at initial sites under its multiyear agreement with the Mexican government. Since being awarded the program, OSI’s security division, Rapiscan Systems, has managed the design and build of screening checkpoints and related data management infrastructure throughout Mexico.
Deepak Chopra, OSI Systems’ President and CEO, stated, “We are extremely pleased with the progress in this critically important program. The implementation is proceeding well and we are excited to be in the operational phase in Mexico. The rapid progress is a testament to our ability to manage large scale security initiatives, our depth of experience in delivering integrated solutions, the versatility of our products and the flexibility of our service offering. We expect significant revenues from this program in the second half of our current fiscal year.”
Rapiscan Systems was awarded a six-year contract from Mexico’s tax and customs authority to provide inspection services by implementing a wide-ranging program of cargo and vehicle security screening systems and services throughout Mexico. Under the program, Rapiscan Systems expects to provide complete operations of inspection sites utilizing x-ray screening technology. Rapiscan Systems plans to incorporate staffing, systems integration, data management, and maintenance support at these sites networked throughout Mexico, including ports of entry as well as inland checkpoints and airports.
About OSI Systems, Inc.
OSI Systems, Inc. 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. We combine more than 30 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, Inc. or any of 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 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. 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, 2012 and other risks described in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission.
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