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HAWTHORNE, Calif. - OSI Systems, Inc. (NASDAQ:OSIS), a security technology company with a market capitalization of $3.63 billion, has announced a significant contract valued at $47 million from a domestic customer for the maintenance of Rapiscan inspection systems. These systems are integral to the security operations of the customer, facilitating the screening of baggage, cargo, and vehicles. According to InvestingPro data, the company maintains strong financial health with a current ratio of 2.11, indicating robust operational capability.
The contract also includes continued support for the company’s CertScan Inspection Integration Platform. This platform is part of OSI Systems’ comprehensive security solutions, which are critical in meeting the security needs of its customers.
Ajay Mehra, President and CEO of OSI Systems, expressed the company’s enthusiasm for the contract, stating their commitment to delivering outstanding maintenance and support services. "With this award, we are excited to continue delivering exceptional maintenance and support, helping to advance our customer’s vital security objectives," Mehra said.
OSI Systems has been a key player in the design and manufacturing of specialized electronic systems for over 40 years. With a focus on homeland security, healthcare, defense, and aerospace industries, the company has established a global presence with offices and production facilities across multiple countries.
The announcement of the contract follows OSI Systems’ strategy of expanding into selective end-product markets, leveraging its extensive experience in electronics engineering and manufacturing.
As with all forward-looking statements, the company cautions that there are uncertainties and risks that may affect future performance. These statements are not guarantees of future results and may differ materially based on various factors.
The information regarding the contract is based on a press release statement from OSI Systems, Inc.
In other recent news, OSI Systems reported strong third-quarter earnings for fiscal year 2025, surpassing analyst expectations. The company achieved a record non-GAAP adjusted earnings per share of $2.44, exceeding the forecast of $2.41. Revenue also outperformed projections, reaching $444 million against an anticipated $437.07 million, marking a 10% year-over-year increase. Additionally, OSI Systems secured a $56 million contract to supply security inspection equipment to an undisclosed international customer, enhancing their role in global trade security. The company also received a $36 million contract for airport security solutions at a major Middle Eastern airport, highlighting its commitment to advancing airport operations and passenger safety. In the healthcare sector, OSI Systems obtained a $7 million order for components, indicating ongoing expansion in this market. Analyst firm Oppenheimer raised OSI Systems’ price target to $260, maintaining an Outperform rating, citing a robust backlog and potential benefits from increased U.S. border security spending. These developments underscore OSI Systems’ strong market position and strategic growth across multiple sectors.
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