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Strategies & Market Trends : Zeev's Turnips - No Politics -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (49936)	4/11/2002 8:12:43 AM
From: wgh613	Respond to of 99280

INVN moving down? InVision Technologies, Inc. Announces New Orders From International Customers Company Highlights Domestic Orders To Date NEWARK, Calif., Apr 11, 2002 (BUSINESS WIRE) -- InVision Technologies, Inc. (Nasdaq: INVN chart, msgs) today announced that France's Service Technique des Bases Aeriennes ("STBA") and Aeroporto Palermo de Punta Raisi of Italy have ordered CTX 2500 and CTX 9000DSi explosive detection systems ("EDS") valued at approximately $6.3 million. STBA is one of InVision's largest customers, responsible for the technical evaluation of aviation security technology throughout France. STBA also purchases equipment for many French airports. France represents the largest installed base of EDS outside of the United States, and STBA and its predecessor authority have ordered EDS from InVision since 1996. Aeroporto Palermo in Italy is ordering its first system from InVision, with options to continue deploying CTX throughout the airport. The Palermo airport is the third Italian airport to select InVision CTX systems. "We are pleased that our international market remains robust. We have sold 108 of the 115 CT-based EDS that we believe are in operation outside of the United States. We have solid indications of continued international demand," said Sergio Magistri, Ph.D., InVision's President and Chief Executive Officer. "The continued flow of international orders complements orders in hand from the U.S. government. At the same time, we are continuing our ramp-up effort to meet the U.S. mandate for 100% screening with stand-alone equipment. We also believe that following the U.S. deployment of CT-based systems for lobby installation, we will see an increasing demand for in-line integrated EDS systems for U.S. airports. We believe that the opportunity to install in-line integrated systems based on our CTX 9000DSi EDS in the domestic and international markets should extend our business opportunity across the next several years." InVision provided the following highlights on its domestic business. -- So far this year, the U.S. government has placed approximately $320 million in funded orders for CTX 2500 and CTX 5500 units from InVision, for a total of 400 units and components for 100 additional systems. The Transportation Security Administration ("TSA") has informed InVision that pending funding, the TSA intends to purchase additional systems. -- A number of leading U.S. airports, including San Francisco International Airport, have incorporated CTX 9000DSi units into automated baggage handling systems. These installations, although requiring a longer period to implement, offer improved operational performance and passenger convenience. -- Recently several major U.S. companies have announced their intention to team and/or bid for the job of general contractor for the TSA to support and coordinate the fielding of EDS including the 400 EDS units purchased by the TSA from InVision. The general contractor will play a crucial role in running the integration of the systems into the nation's airports. InVision looks forward to supporting the general contractor to accomplish the mandate of the Aviation and Transportation Security Act of 2001. InVision will continue to offer maintenance of EDS machines. Dr. Magistri said, "Most of the general contractor candidates have now visited InVision's facilities, and we look forward to working with the winner of this contract to support the rapid deployment of EDS nationwide." -- InVision has granted a license to the TSA that may be used to supply manufacturing capacity for a limited time to help meet the national emergency. A manufacturing sub-licensee has not been named at this point. Should a manufacturer be selected, that manufacturer will pay a royalty fee to InVision for each CT-based EDS that is built under license. Further, the license is limited to manufacture of CTX 2500 and CTX 5500DS models for two years, after which a manufacturer may not compete with InVision in the manufacture of CT-based EDS for three years. The license prohibits a sub-licensee from impairing InVision's supply chain for components. The TSA requested this license to create one or more "second sources" for EDS based on InVision's CTX technology. -- InVision is in a strong position to continue to supply after-market service for the growing installed base of CTX systems. "With eight years of experience supporting CTX systems, an in-place global support force and intimate knowledge of our technology, we believe we will play a key part of supporting the deployed systems," said Dr. Magistri. "InVision's market opportunities include the systems currently being supplied for stand-alone lobby installations, and we anticipate that this will be followed by the deployment of larger CTX 9000DSi systems for integration into automated baggage handling systems in large airports. Furthermore, we believe there are opportunities beyond those identified in the Aviation and Transportation Security Act, including improved security on flights in-bound to the United States, and growing global demand for screening internationally," said Dr. Magistri. "InVision won its leadership position in the world with the first certified EDS for baggage screening. We have a successful track record of identifying un-served market opportunities, and of acquisition, development and manufacture of innovative new technologies. We intend to maintain our leadership." InVision Technologies develops, manufactures, markets and supports explosive detection systems based on advanced Computed Tomography (CT) technology for civil aviation security. InVision, through its wholly owned subsidiaries, also develops and commercializes technologies used for other security purposes as well as scanning, optimization and control systems for the forest products industry.