HAWTHORNE, Calif. - OSI Systems , Inc. (NASDAQ:OSIS) announced today that its Security division has secured a $16 million contract to upgrade checkpoint security at an unnamed international airport. The company will provide its 920CT screening systems and automated tray return system (TRS) lanes, aiming to enhance the efficiency of passenger screening processes.
The contract also includes a multi-year service agreement for maintenance and support of the new systems. OSI Systems' Chairman and CEO, Deepak Chopra, commented on the deal, emphasizing the company's commitment to advancing security solutions and improving passenger experience with faster throughput.
OSI Systems is a provider of electronic systems and components for various industries, including homeland security, healthcare, defense, and aerospace. With over 40 years of experience in electronics engineering and manufacturing, the company operates globally with facilities in multiple countries.
This new contract is expected to not only bolster the security infrastructure of the customer's airport but also reflects OSI Systems' continued expansion in the security solutions market.
The information for this report is based on a press release statement from OSI Systems, Inc.
InvestingPro Insights
OSI Systems, Inc. (NASDAQ:OSIS) has recently made headlines with its $16 million contract to enhance checkpoint security at an international airport. Investors and stakeholders are keenly observing the company's financial health and market position. Here are some key insights based on real-time data from InvestingPro and InvestingPro Tips.
InvestingPro Data shows that OSI Systems has a market capitalization of $2.26 billion, indicating its significant presence in the industry. The company's P/E ratio stands at 19.61, suggesting that investors are willing to pay a higher price for its earnings, which could be due to expectations of future growth. With a revenue growth of 14.8% over the last twelve months as of Q2 2024, OSI Systems is demonstrating its ability to expand its top line effectively.
An InvestingPro Tip highlights that OSI Systems is currently trading near its 52-week high, with the price being 94.68% of this peak. This could reflect market confidence in the company's prospects, particularly after securing lucrative contracts such as the recent airport security deal. Additionally, OSI Systems has shown stability in its stock price, generally trading with low price volatility, which might be a reassuring sign for risk-averse investors.
For those seeking more in-depth analysis, there are additional InvestingPro Tips available, including insights on earnings revisions and profitability expectations. To explore these tips and gain a more comprehensive understanding of OSI Systems' investment potential, visit https://www.investing.com/pro/OSIS. Remember, using the coupon code PRONEWS24 can get you an extra 10% off a yearly or biyearly Pro and Pro+ subscription, providing access to exclusive investment insights and data.
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