OSI Systems Receives $4 Million in Orders for Electronic Components

Rhea-AI Summary

OSI Systems (NASDAQ: OSIS) announced its Optoelectronics and Manufacturing division received $4 million in orders from a major defense contractor. These orders are for electronic sub-assemblies used in critical data communication systems. CEO Deepak Chopra expressed pride in supporting this long-term customer, emphasizing the importance of their mission-critical systems used globally. OSI's extensive experience spans over 40 years in specialized electronics for defense, healthcare, and homeland security industries, with production facilities across multiple countries.

Positive

• Received $4 million in orders from a leading defense contractor.
• Orders are for critical data communication systems, indicating strong demand.
• Long-standing relationship with a major customer enhances business stability.

Negative

• None.

HAWTHORNE, Calif.--(BUSINESS WIRE)-- OSI Systems, Inc. (NASDAQ: OSIS) today announced that its Optoelectronics and Manufacturing division has received orders for approximately $4 million from a leading defense prime contractor to provide electronic sub-assemblies for critical data communication systems.

OSI Systems’ Chairman and Chief Executive Officer, Deepak Chopra, stated, "We are proud to support this long-standing customer to deliver its mission critical systems that are used worldwide.”

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/20220509005350/en/

OSI Systems, Inc.

Ajay Vashishat

Vice President, Business Development

310-349-2237

avashishat@osi-systems.com

Source: OSI Systems, Inc.

FAQ

What was the recent announcement made by OSI Systems?

OSI Systems announced that its Optoelectronics and Manufacturing division received $4 million in orders from a leading defense contractor.

What does the $4 million order from OSI Systems involve?

The order involves electronic sub-assemblies for critical data communication systems.

Who is the CEO of OSI Systems?

Deepak Chopra is the CEO of OSI Systems.

Which sector does OSI Systems primarily serve with its products?

OSI Systems serves the defense, healthcare, and homeland security sectors.

How long has OSI Systems been in operation?

OSI Systems has over 40 years of experience in electronics engineering and manufacturing.