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OSI Systems Receives $2 Million Order for Fiber Optic Monitor Arrays for Newly-Formed OSI Fibercomm Subsidiary

Source: OSI Systems

- OSI Fibercomm to Develop and Engineer Indium Gallium Arsenide (InGaAs) Monitor Arrays for Use in Wavelength Division Multiplexing (WDM) Applications

Hawthorne, CA. OSI Systems Inc. (Nasdaq:OSIS), a worldwide provider of security solutions, pressure-sensitive electronic subsystems, optoelectronics, and fiber optic components, today announced that it has received an initial order of $2 Million from an industry-leading manufacturer of long-haul fiber optic equipment for the development, engineering and production of InGaAs monitor arrays for WDM applications. The order will be fulfilled by OSI Fibercomm, the Company s newly-formed fiber optics subsidiary, and will ship over the next twelve months.

"We are very pleased to announce this record order for our fiber optic products," stated Deepak Chopra, Chairman and CEO of OSI Systems and OSI Fibercomm. "OSI Fibercomm is committed to making the best products available for use in fiber optic networks, and we are gratified that the price and performance characteristics of our products are gaining significant recognition from industry leaders."

Chopra added, "This purchase order highlights the strengths and synergy of OSI Systems subsidiaries, and our full-service order fulfillment capabilities."

Steven Cuffel, Vice President of Sales and Marketing for OSI Fibercomm, stated, "We are excited by the acceptance of OSI Fibercomm s products by the major long-haul equipment manufacturers." Cuffel added, "We have also started shipping production quantities of InGaAs photodiodes at the rate of 10,000 units per month for use in the Telecommunications applications market."

About OSI Fibercomm Inc.

Founded in the year 2000, OSI Fibercomm Inc. is a designer, producer and distributor of Silicon and Indium Gallium Arsenide based fiber optic components and subsystems for the fiber optic communication marketplace. OSI Fibercomm Inc. is a wholly-owned subsidiary of OSI Systems.

About OSI Systems Inc.

OSI Systems Inc., is a worldwide manufacturer and seller of X-ray inspection and metal detection systems under the trade names Rapiscan™, Metor™ and Secure™. OSI Systems also sells complete life science applications systems, including X-ray and ultrasound products for detecting osteoporosis under the trade names UltraSure™ and DexaCare™. In addition, OSI Systems designs, manufactures and sells optical and pressure-sensitive electronics systems and subsystems worldwide through its global network of sales and manufacturing facilities in Singapore, Malaysia, Norway, Finland, the United Kingdom and the United States. OSI Systems customers include many of the leading Fortune 1000 companies. OSI Systems products are used in a broad range of applications in the security, medical, fiber optics, communications, aerospace, oil exploration and automotive industries.

"SAFE HARBOR" STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995: The statements contained in this release which are not historical facts are forward-looking statements that are subject to risks and uncertainties including those risks detailed in the Company s Securities and Exchange Commission filings that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. In addition to the factors discussed in the filings with the Securities and Exchange Commission, among the other factors that could cause actual results to differ materially are the following: adverse changes in the business conditions and the general economy; competitive factors, such as rival companies pricing and marketing efforts; availability of third-party material products at reasonable prices; the financial condition of the customer; risks of obsolescence due to shifts in market demand; and litigation involving product liabilities and consumer issues.

Contact: OSI Systems Inc., Hawthorne, Calif. Ajay Mehra Tel: 310/978-0516 or Typhoon Capital Consultants, LLC, Santa Monica, Calif. David Bronte Tel: 310/399-4059, ext. 103

 

OSI Systems Inc., Hawthorne, Calif.
Ajay Mehra
Tel: 310/978-0516
or
Typhoon Capital Consultants, LLC, Santa Monica, Calif.
David Bronte
Tel: 310/399-4059, ext. 103
 
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