OSI Systems Receives $27 Million Order to Provide Support Services for Cargo and Vehicle Inspection Systems
OSI Systems (NASDAQ: OSIS) has secured a significant contract through its Security division. The initial order, valued at approximately $27 million, is for maintenance service and technology support of Rapiscan® cargo and vehicle inspection systems. This order is expected to be completed in fiscal 2025.
The contract also includes four option periods spanning about three years, with a potential total value of $117 million if all options are exercised by the U.S. based customer. Deepak Chopra, OSI Systems' Chairman and CEO, expressed appreciation for the award and commitment to supporting the customer's security needs.
OSI Systems (NASDAQ: OSIS) ha ottenuto un contratto significativo attraverso la sua divisione Sicurezza. L'ordine iniziale, del valore di circa 27 milioni di dollari, riguarda il servizio di manutenzione e il supporto tecnologico dei sistemi di ispezione di carico e veicoli Rapiscan®. Questo ordine dovrebbe essere completato nel fiscal 2025.
Il contratto include anche quattro periodi di opzione che si estendono per circa tre anni, con un valore totale potenziale di 117 milioni di dollari se tutte le opzioni vengono esercitate dal cliente con sede negli Stati Uniti. Deepak Chopra, Presidente e CEO di OSI Systems, ha espresso gratitudine per l'assegnazione e impegno nel supportare le esigenze di sicurezza del cliente.
OSI Systems (NASDAQ: OSIS) ha asegurado un contrato significativo a través de su división de Seguridad. El pedido inicial, valorado en aproximadamente 27 millones de dólares, es para el servicio de mantenimiento y soporte tecnológico de sistemas de inspección de carga y vehículos Rapiscan®. Se espera que este pedido se complete en fiscal 2025.
El contrato también incluye cuatro periodos de opción que abarcan aproximadamente tres años, con un valor total potencial de 117 millones de dólares si todas las opciones son ejercitadas por el cliente con base en EE.UU. Deepak Chopra, Presidente y CEO de OSI Systems, expresó su agradecimiento por la concesión y el compromiso de apoyar las necesidades de seguridad del cliente.
OSI 시스템즈 (NASDAQ: OSIS)는 보안 부서를 통해 중요한 계약을 체결했습니다. 초기 주문은 약 2천700만 달러의 가치를 지니며, Rapiscan® 화물 및 차량 검사 시스템의 유지 관리 서비스 및 기술 지원을 포함하고 있습니다. 이 주문은 2025 회계연도에 완료될 것으로 예상됩니다.
계약에는 약 3년에 걸쳐 4개의 옵션 기간도 포함되어 있으며, 미국 고객이 모든 옵션을 실행할 경우 총 1억1천700만 달러에 달할 수 있습니다. Deepak Chopra OSI 시스템즈의 회장 겸 CEO는 수여에 대한 감사를 표하며 고객의 보안 요구 사항을 지원하겠다는 의지를 전했습니다.
OSI Systems (NASDAQ: OSIS) a obtenu un contrat significatif par le biais de sa division Sécurité. La commande initiale, d'une valeur d'environ 27 millions de dollars, concerne le service de maintenance et le support technologique des systèmes d'inspection de cargaison et de véhicules Rapiscan®. Cette commande devrait être finalisée au fiscal 2025.
Le contrat comprend également quatre périodes d'options qui s'étendent sur environ trois ans, avec une valeur totale potentielle de 117 millions de dollars si toutes les options sont exercées par le client basé aux États-Unis. Deepak Chopra, président et CEO d'OSI Systems, a exprimé sa reconnaissance pour cette attribution et son engagement à soutenir les besoins de sécurité du client.
OSI Systems (NASDAQ: OSIS) hat einen bedeutenden Vertrag über seine Sicherheitsabteilung gesichert. Der ursprüngliche Auftrag, der einen Wert von etwa 27 Millionen Dollar hat, betrifft Wartungsdienstleistungen und technische Unterstützung für Rapiscan® Fracht- und Fahrzeuginspektionssysteme. Dieser Auftrag soll im Geschäftsjahr 2025 abgeschlossen werden.
Der Vertrag umfasst auch vier Optionsperioden, die sich über etwa drei Jahre erstrecken, mit einem potenziellen Gesamtwert von 117 Millionen Dollar, sofern alle Optionen vom US-kundigen Kunden ausgeübt werden. Deepak Chopra, Vorsitzender und CEO von OSI Systems, äußerte Dankbarkeit für die Vergabe und das Engagement zur Unterstützung der Sicherheitsbedürfnisse des Kunden.
- Secured a $27 million initial order for maintenance and support services
- Potential for additional $117 million in revenue over four option periods
- Strengthens relationship with existing U.S. based customer
- Demonstrates continued demand for Rapiscan® cargo and vehicle inspection systems
- None.
Insights
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The nature of the contract - maintenance and support for existing systems - suggests high-margin, recurring revenue. This type of business typically carries better profitability than new equipment sales and helps smooth out cyclicality in the security systems market.
Investors should view this positively as it demonstrates customer retention and the potential for expanded services with existing clients. However, the full value is contingent on option exercises, which introduces some uncertainty.
OSI Systems’ Chairman and CEO, Deepak Chopra, commented, “We appreciate this award and are committed to continuing to support this customer's security needs.”
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.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240926292143/en/
OSI Systems, Inc.
Ajay Vashishat
Vice President, Business Development
310-349-2237
avashishat@osi-systems.com
Source: OSI Systems, Inc.
FAQ
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