OSI Systems Receives $12 Million Order for Electronic Components

Rhea-AI Summary

OSI Systems, Inc. (NASDAQ: OSIS) has secured a $12 million order from an IT security technology provider for electronic sub-assemblies, as announced by CEO Deepak Chopra. This order highlights OSI's role in supporting critical missions within the technology sector. With over 40 years of manufacturing experience in specialized electronic systems, OSI Systems is positioned for growth in key markets including homeland security, healthcare, defense, and aerospace. The company operates globally, leveraging its engineering expertise to meet client demands effectively.

Positive

• Received a $12 million order, indicating strong demand for electronic sub-assemblies.
• Enhances reputation and support in the IT security technology sector.

Negative

• None.

HAWTHORNE, Calif.--(BUSINESS WIRE)--

OSI Systems, Inc. (NASDAQ: OSIS) today announced that its Optoelectronics and Manufacturing division has received an order for approximately $12 million to provide electronic sub-assemblies for an IT security technology provider.

OSI Systems’ Chairman and Chief Executive Officer, Deepak Chopra, stated, "We are excited to receive this order and look forward to supporting this customer’s critical mission.”

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/20210825005282/en/

OSI Systems, Inc.

Ajay Vashishat

Vice President, Business Development

310-349-2237

avashishat@osi-systems.com

Source: OSI Systems, Inc.

FAQ

What recent order did OSI Systems receive?

OSI Systems announced a $12 million order for electronic sub-assemblies from an IT security technology provider.

How does the $12 million order affect OSI Systems' business?

The order positively impacts OSI Systems by demonstrating strong demand and support for their manufacturing capabilities in the IT security sector.

Who is the CEO of OSI Systems?

The CEO of OSI Systems is Deepak Chopra.

What industries does OSI Systems operate in?

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

Where is OSI Systems located?

OSI Systems is based in Hawthorne, California, with operations in multiple countries.