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TMCNet:  OSI Systems Receives $7 Million Order for Real Time Tomography (RTT) Hold Baggage Screening Systems at Major European Airport

[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. 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, 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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