InVision Technologies, Inc. Welcomes Senate Action to Extend Baggage-Screening Deadline
Friday September 20, 7:30 am ET
NEWARK, Calif.--(BUSINESS WIRE)--Sept. 20, 2002--InVision Technologies, Inc. (Nasdaq: INVN - News) said it welcomed yesterday's U.S. Senate Commerce, Science and Transportation Committee vote recommending selectively extending the deadline to install explosive detection systems (EDS) in some of the nation's largest airports. The Committee's recommendation will now proceed through the legislative process.
"InVision remains committed to helping meet the mandate for hardened aviation security by the end of this year utilizing standalone systems and other technologies in airport lobbies," said Sergio Magistri, Ph.D., InVision's President and Chief Executive Officer. "We believe the proposed deadline extension should have no impact on standing orders or delivery schedules. In fact, we see this action as a positive development, as it would provide the time required to build in-line automated baggage EDS-based screening systems. We believe that in-line EDS will result in safe, as well as more cost effective and convenient baggage screening."
Dr. Magistri added, "We believe the year-end mandate and subsequent efforts to build in-line screening will be accomplished utilizing technologies that are operationally proven in U.S. airports today. Our CTX 9000 DSi EDS is uniquely suited to integrated baggage screening applications. We anticipate continuing demand for this model as American airports move to the in-line approach."
The statements regarding the extension of the screening deadline, the impact on orders and delivery schedules, the possibility of additional sales of CTX systems and demand for the CTX 9000 DSi model are forward looking statements. Investors are cautioned to consider the important risk factors that could cause actual results to differ materially from those in the forward-looking statements in this news release. These risk factors include: the risk that the deadline extension is not approved, the risk that the Transportation Security Administration (TSA) does not receive additional appropriations to purchase additional EDS; the risk that the TSA purchases its requirements for additional EDS from InVision's competitors; the risk that United States airports do not adopt the in-line EDS solution; the risk that the TSA may cancel or cut back its order; and other risks detailed under the caption "Business Risks" or "Risk Factors" in InVision's most recent reports on Forms 10-Q and 10-K/A filed with the Securities and Exchange Commission. |
