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Strategies & Market Trends : Moufassa's Lair -- Ignore unavailable to you. Want to Upgrade?

To: Mark Konrad who wrote (4389)	2/5/2002 9:29:39 AM
From: Frederick Langford	Read Replies (1) \| Respond to of 13660

Rapiscan Announces Approximately $5 Million Bridge Order from the Federal Aviation Administration for Certified TRX Machines February 05, 2002 06:01:00 (ET) HAWTHORNE, Calif., Feb 5, 2002 (BUSINESS WIRE) -- Rapiscan Security Products, Inc., a wholly-owned subsidiary of OSI Systems, Inc. (OSIS, Trade) and a worldwide leader in providing security solutions to airports, customs facilities, correctional facilities, and governments, said today it received a bridge order for FAA certified carry-on baggage X-ray screening systems outfitted with Threat Image Projection (TIP) valued at approximately $5 million from the Federal Aviation Administration (FAA). Shipment of these systems will commence in this quarter. This order for TIP ready X-ray systems (TRX) was based on funding secured prior to the final passage of the Aviation and Transportation Security Act. OSI Systems' Rapiscan subsidiary is one of three FAA approved vendors for TRX systems. OSI Systems currently has an installed base in excess of 300 TRX systems deployed in the U.S. This represents approximately 40% of all TRX systems at U.S. airports. The current order is to cover additional checkpoints added since September 11th as well as planned program rollouts for lower category airports. "We are pleased that the FAA is beginning to release funding for this crucial category of TRX Systems," said Ajay Mehra, President of OSI Systems Security Group and CFO of OSI Systems. "We stand ready to rapidly build and ship these systems and we have also given the FAA a summary of our ramp-up and delivery capabilities for additional orders for this system as well as for our Secure 1000 body scanners." The TIP software included with the Rapiscan x-ray scanners aids in the training of security personnel. With TIP installed, a fictitious image of a weapon or contraband material is randomly inserted into an X-ray image showing the contents of luggage or cargo being screened. The security screener's response to the image projection is then evaluated. TIP technology was developed in collaboration with the FAA and will allow federal government to train, test and monitor detection performance of new federal employees. Currently, TRX systems are deployed at almost all Category X and Category 1 security checkpoints, although activation of the TIP software program is still in process. While the increased interest in Rapiscan's products might result in additional sales, OSI Systems cannot evaluate the amount and/or timing of the sales increases that may result. Rapiscan Security Products, Inc., a wholly owned subsidiary of OSI Systems, Inc., is a leading supplier of high quality X-ray screening and explosive detection systems. The company has delivered thousands of these detection systems to customers worldwide for use in airports, customs facilities, courthouses, government buildings, mail rooms, schools, prisons, embassies, and other locations. The Rapiscan product line, marketed under the Rapiscan, Metor, and Secure 1000 brand names, is manufactured at four global locations and offers a wide range of security screening systems with diverse technologies. For more information on Rapiscan Security Products, Inc., please visit www.rapiscan.com. OSI Systems Inc. is a diversified global developer, manufacturer and seller of optoelectronic-based components and systems. The company has more than 30 years of optoelectronics experience, and through its family of subsidiaries, competes in four specific growth areas: OEM Manufacturing, Security, Medical and Fiber Optics. For more information on OSI Systems Inc. or any of its subsidiary companies, visit www.osi-systems.com. Fred