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OSI Systems Awarded $4 Million Contract to Provide Explosives and Narcotics Trace Detection Systems

March 18, 2019

HAWTHORNE, Calif.--(BUSINESS WIRE)--Mar 18, 2019--OSI Systems, Inc. (the “Company” or “OSI Systems”) (NASDAQ: OSIS) today announced that its Security division was awarded a contract valued at approximately $4 million by an international airport to provide multiple units of its Itemiser ® 4DX explosives and narcotics detection system and follow-on service and spare parts support.

OSI Systems’ Chairman and CEO, Deepak Chopra, stated, “We are pleased that this prominent customer selected the Itemiser 4DX trace detection system to enhance its checkpoint security at one of the busiest airports in the world.”

The Itemiser ® 4DX can detect a broad range of current market threat explosives and narcotics without the use of a radioactive source, thereby potentially eliminating shipping restrictions and related licensing requirements. The portable, ergonomic desktop unit features automated internal calibration to help decrease consumable cost and optimize ongoing equipment operation.

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

Forward-Looking Statements

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, and projections concerning matters that are not historical facts. Forward-looking statements are not guarantees of future performance and involve uncertainties, risks, assumptions, and contingencies, many of which are outside OSI Systems’ control and which may cause actual results to differ materially from those described in or implied by any forward-looking statements. Undue reliance should not be placed on forward-looking statements, which 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.

View source version on businesswire.com:https://www.businesswire.com/news/home/20190318005272/en/

CONTACT: OSI Systems, Inc.

Ajay Vashishat

Vice President, Business Development

310-349-2237

avashishat@osi-systems.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: TECHNOLOGY TRANSPORT AIR SECURITY MANUFACTURING AEROSPACE DEFENSE CONTRACTS

SOURCE: OSI Systems, Inc.

Copyright Business Wire 2019.

PUB: 03/18/2019 08:30 AM/DISC: 03/18/2019 08:31 AM

http://www.businesswire.com/news/home/20190318005272/en