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OSI Systems Receives $12 Million Contract for Mobile Cargo and Vehicle Inspection Systems

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OSI Systems, Inc. (NASDAQ: OSIS) has secured a contract worth approximately $12 million from an international client to supply multiple units of the Eagle® M60 mobile high-energy cargo and vehicle inspection system, including follow-on services and support. CEO Deepak Chopra expressed enthusiasm for the order, highlighting the system's capability to enhance security at checkpoints. OSI Systems continues to leverage over 40 years of expertise in specialized electronic systems across critical sectors such as homeland security and defense.

Positive
  • Awarded a contract valued at approximately $12 million for the Eagle® M60 inspection system.
  • The contract includes follow-on service and support, indicating ongoing revenue potential.
  • The system enhances security by allowing quick relocation of checkpoints.
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  • None.

HAWTHORNE, Calif.--(BUSINESS WIRE)-- OSI Systems, Inc. (the “Company” or “OSI Systems”) (NASDAQ: OSIS) today announced that its Security division was awarded a contract valued at approximately $12 million from an international customer to provide multiple units of the Eagle® M60 mobile high-energy cargo and vehicle inspection system, follow-on service, and support.

OSI Systems’ Chairman and CEO, Deepak Chopra, commented, “We are excited to receive this order and look forward to deploying our widely-used cargo inspection platforms that enable users to quickly change the location of a checkpoint to enhance security.”

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 any of 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.

OSI Systems, Inc.

Ajay Vashishat

Vice President, Business Development

310-349-2237

avashishat@osi-systems.com

Source: OSI Systems, Inc.

FAQ

What is the value of the contract secured by OSI Systems?

The contract is valued at approximately $12 million.

What product is OSI Systems providing under the new contract?

OSI Systems is providing multiple units of the Eagle® M60 mobile high-energy cargo and vehicle inspection system.

Who is the CEO of OSI Systems?

The CEO of OSI Systems is Deepak Chopra.

When was the contract awarded to OSI Systems?

The contract was announced in a press release dated May 24, 2022.

What industry does OSI Systems operate in?

OSI Systems operates in the homeland security, healthcare, defense, and aerospace industries.

OSI Systems Inc

NASDAQ:OSIS

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