OSI Systems to Supply Military Grade Components for Missile Systems

Rhea-AI Summary

OSI Systems (OSIS) Receives $4M Orders for Missile Guidance and Detection Components, CEO Deepak Chopra Expresses Pleasure in Supporting Defense OEM

Positive

• OSI Systems' Optoelectronics and Manufacturing division receiving multiple orders worth $4 million indicates strong demand for its defense components, potentially leading to increased revenue and growth for the company.

Negative

• None.

HAWTHORNE, Calif.--(BUSINESS WIRE)-- OSI Systems, Inc. (the “Company” or “OSI Systems”) (NASDAQ: OSIS) today announced that its Optoelectronics and Manufacturing division has received multiple orders for approximately $4 million in aggregate to provide missile guidance and detection components to a leading defense electronics original equipment manufacturer (OEM).

OSI Systems’ Chairman and Chief Executive Officer, Deepak Chopra, commented, “We are pleased to support this long-standing customer and help bolster global defense capabilities.”

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/20231113479903/en/

OSI Systems, Inc.

Ajay Vashishat

Vice President, Business Development

310-349-2237

avashishat@osi-systems.com

Source: OSI Systems, Inc.

FAQ

What is the ticker symbol of OSI Systems?

The ticker symbol of OSI Systems is OSIS.

How much in orders has OSI Systems received for missile guidance and detection components?

OSI Systems has received approximately $4 million in orders for missile guidance and detection components.

Who is the Chairman and CEO of OSI Systems?

The Chairman and CEO of OSI Systems is Deepak Chopra.

What is the purpose of the orders received by OSI Systems?

The orders are to provide missile guidance and detection components to a leading defense electronics OEM, aiming to support global defense capabilities.