ClariNet Homepage

InVision Technologies Receives $8.5 Million in Explosives Detection System Orders from International Customers in Japan, Greece and Italy

Thursday, 14-Aug-2003 2:50AM PDT
    
Story from Ca Invision via BizWire
Copyright 2003 by Business Wire (via ClariNet)

InVision Technologies Receives $8.5 Million in Explosives Detection System Orders from International Customers in Japan, Greece and Italy; First InVision EDS Sale to Japanese Market


NEWARK, Calif.--(BUSINESS WIRE)--Aug. 14, 2003--InVision Technologies, Inc. (Nasdaq:INVN) today announced that airport authorities in Japan, Greece and Italy have ordered CTX 9000 DSi explosives detection systems (EDS) with a total value of approximately $8.5 million. The systems sold to the Central Japan International Airport, the Athens International Airport and the Orio Al Serio International Airport in Bergamo, Italy are scheduled for delivery in the fourth quarter of 2003 and the first quarter of 2004.


BizVantage Beyond the news: indepth on business, investment and technology.
Try the free, no-hassle 6 month trial!

The Japanese EDS order represents an important new market entry for InVision and the continuation of its growing presence in Asia, which began in 1997. The Greece order further supports the development of the Athens airport in view of the coming summer Olympic Games of 2004. The orders for Italy and Greece also mark further expansion of the company's presence in both of these countries. As international airport security standards improve, InVision expects to receive significant new orders from international customers. All international orders are subject to export license approval from U.S. export authorities.

"We are pleased to announce that our CTX 9000 DSi explosives detection machines were chosen for the screening of checked baggage to improve passenger safety in Japan and we look forward to helping raise standards in other airports in Asia," said Dr. Sergio Magistri, Ph.D., InVision's president and chief executive officer.

"We are seeing greater global awareness of the threats to and costs for aviation security as customers recognize the security and economic benefits of installing automated in-line EDS into their baggage handling systems and these most recent orders build on our international expansion," Magistri concluded.

About InVision

InVision Technologies develops, manufactures, markets and supports explosives detection systems based on advanced computed tomography technology for civil aviation security. InVision's wholly owned subsidiary Yxlon develops, manufactures, markets and supports automated X-ray based non-destructive testing systems for a wide range of industrial applications and X-ray based diffraction for explosives detection. InVision's wholly owned subsidiary Quantum Magnetics develops detection systems for weapons, narcotics, explosives and other threats based on quadrupole resonance and other proprietary magnetic sensing technologies. InVision's wholly owned subsidiary Inovec develops, manufactures, markets and supports scanning, optimization and control systems for the forest products industry. Additional information about InVision can be obtained on the company's website at http://www.invision-tech.com.

Cautions Regarding Forward-Looking Statements

This news release contains forward-looking statements, including statements regarding anticipated delivery schedules and the company's expectations regarding additional international orders. These forward-looking statements are subject to material risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Investors should consider important risk factors, which include: the risk that InVision does not timely manufacture and deliver its EDS units due to unforeseen difficulties with its manufacturing operations; the risk that InVision does not obtain in a timely manner components necessary to build the number of EDS units it expects to build due to the unavailability of components; the risk that airport authorities in Japan, Greece and Italy cancel all or a portion of their orders; the risk that U.S. export authorities do not issue export licenses; the risk that airports in Asia and elsewhere internationally do not raise security standards; the risk that the company does not receive additional international orders; and other risks detailed under the caption "Risk Factors" in InVision's most recent reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission. InVision is under no obligation, and expressly disclaims any obligation, to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.