MRO Magazine

OSI Systems Receives $2 Million Order for Vehicle Detection and Classification Solutions


June 26, 2015
By Business Wire News

HAWTHORNE, Calif.

OSI Systems, Inc. (NASDAQ: OSIS) today announced that its Optoelectronics division received an order of approximately $2 million from Raytheon to provide system hardware and software, which will be used in the electronic toll collection network for the Massachusetts Department of Transportation.

OSI Systems Chief Executive Officer, Deepak Chopra commented, “We are excited to provide our sensor technology and software to support Raytheon’s efforts with MassDoT. Our Optoelectronics division is a leading supplier to OEM’s that provide systems for aerospace, defense, safety, security and industrial applications.”

About OSI Systems, Inc.

OSI Systems, Inc. is a vertically integrated designer and manufacturer of specialized electronic systems and components for critical applications. The Company sells its products in diversified markets, including homeland security, healthcare, defense and aerospace. The Company has more than 30 years of experience in electronics engineering and manufacturing and maintains offices and production facilities located in more than a dozen countries. It implements a strategy of expansion by leveraging its electronics and contract manufacturing capabilities into selective end product markets through organic growth and acquisitions. For more information on OSI Systems, Inc. or any of its subsidiary companies, visit www.osi-systems.com. News Filter: OSIS-G

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 the Company’s current expectations, beliefs, projections and similar expressions concerning matters that are not historical facts and are not guarantees of future performance.Forward-looking statements involve uncertainties, risks, assumptions and contingencies, many of which are outside the Company’s control that may cause actual results to differ materially from those described in or implied by any forward-looking statements.All forward-looking statements are based on currently available information and speak only as of the date on which they are made.The Company 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 these and other factors that could cause the Company’s future results to differ materially from any forward-looking statements, see the section entitled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended June 30, 2014 and other risks described in documents filed by the Company from time to time with the Securities and Exchange Commission.

OSI Systems Inc
Ajay Vashishat, 310-349-2237
Vice President, Business Development
avashishat@osi-systems.com