Tag Archives: Rapiscan Eagle

OSI Systems Receives $2.5 Million Order from International Customer for Cargo Inspection

By Business Wirevia The Motley Fool

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OSI Systems Receives $2.5 Million Order from International Customer for Cargo Inspection

HAWTHORNE, Calif.–(BUSINESS WIRE)– OSI Systems, Inc. (NAS: OSIS) today announced that its Security division, Rapiscan Systems, received an order for approximately $2.5 million from a Middle East customer to provide its Rapiscan Eagle® cargo inspection solution.

OSI Systems CEO, Deepak Chopra, commented, “We are excited about this award from a key customer and look forward to providing one of the most powerful inspection systems available in the market. Our Eagle cargo inspection product line is available in multiple configurations on fixed and mobile platforms allowing us to customize our offering to best suit the customer’s requirements.”

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 …read more
Source: FULL ARTICLE at DailyFinance

OSI Announces $15 Million Mideast Sale

By Rich Smith, The Motley Fool

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OSI Systems may be on the outs with America’s Transportation Security Administration these days, but at least it’s still doing good business overseas. On Monday, the X-ray security specialist announced that it has received orders for “approximately $15 million worth of “Rapiscan Eagle high energy X-ray mobile and fixed location cargo and vehicle inspection systems.”

Saying only that the orders were placed by “a Middle East customer,” OSI kept the identity of its client secret. One hint as to who’s placing the order, however, may have come in the form of a Defense Security Cooperation Agency announcement last week, when the DSCA confirmed that it has notified Congress of an impending sale of multiple Rapiscan Eagle vehicles to Iraq.

The Iraq sale announcement included a mix of vehicles from both OSI and rival American Science and Engineering . Still, valued at $600 million, the Iraq sale’s OSI component seems much larger than the relatively small, $15 million sale announced today. On the other hand, if today’s announcement is followed in fairly short order by additional announcements to still more “Middle East customers,” the destination of today’s shipment should be easy to figure out.

OSI shares closed up 5.7% on today’s news, ending Monday trading at $60.89.

The article OSI Announces $15 Million Mideast Sale originally appeared on Fool.com.

Fool contributor Rich Smith and The Motley Fool have no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools don’t all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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Source: FULL ARTICLE at DailyFinance