InVision Technologies Announces $3.4 Million in EDS Orders for the Philippines and France.Business Editors/High-Tech Writers NEWARK, Calif.--(BUSINESS WIRE)--Oct. 11, 2001 InVision Technologies InVision Technologies, Inc. was a publicly traded company based in Newark, California, that manufactured and sold airport security screening devices to detect explosives in passenger baggage. One of its most well-known products is the CTX explosive-detection device. , Inc., (Nasdaq:INVN) said today it has received orders valued at approximately $3.4 million for its CTX CTX Context (Management; Tandem) CTX Centex Corporation (stock symbol) CTX Centrex CTX Cyclophosphamide CTX Corporate Trade Exchange CTX Cytoxan CTX Cholera Toxin CTX Clinical Trial Exemption Explosive Detection Systems (EDS (Electronic Data Systems, Plano, TX, www.eds.com) Founded in 1962 by H. Ross Perot (independent candidate for the President of the U.S. in 1992), EDS is the largest outsourcing and data processing services organization in the country. ) systems from The Philippines and France. The Philippines order is for the company's CTX 9000DSi explosive detection system that will be integrated into the baggage system of Ninoy Aquino International Airport The Ninoy Aquino International Airport (Filipino: Paliparang Pandaigdig ng Ninoy Aquino) or NAIA (IATA: MNL, ICAO: RPLL) is one of the two international airports serving the Metro Manila Area and the main international gateway of the Philippines. in Manila. The purchase is being made by Crisplant a/s, a Danish company that is a leader in baggage and materials handling. InVision said it expects to record revenues from the transaction in the first quarter of 2002. "The Ninoy Aquino International Airport is a major transportation hub in Southeast Asia and we are delighted that it has chosen our CTX systems. They will serve as the core of a fully automated security solution designed by Crisplant. Our project partners also include Takenaka Corporation (Japan) and PIATCO PIATCO Philippine International Air Terminals Co , the Philippines based company responsible for the airport development," said Sergio Magistri, president and chief executive officer of InVision. "This new order adds to our already strong presence in Asia and further enhances our relationships with key aviation security suppliers," he added. The orders from France for InVision's CTX 2500 systems were placed under a previously announced existing three-year contract with the French Service Technique des Bases Aeriennes (STBA STBA S&T Bancorp, Inc. STBA Statistisches Bundesamt STBA Southern Tree Breeding Association (Australia) STBA Sekolah Tinggi Bahasa Asing STBA Splitska Banka STBA Scottish Tenpin Bowling Association STBA South Tyrol Biomass Association ). Revenues from these orders will be recorded during the third quarter of this year. "The orders announced today, combined with those we have received over the past several weeks, further demonstrate our leadership position in the aviation security industry," Magistri noted. InVision Technologies develops, manufactures, markets and supports EDS systems based on advanced Computed Tomography Computed tomography (CT scan) X rays are aimed at slices of the body (by rotating equipment) and results are assembled with a computer to give a three-dimensional picture of a structure. (CT) technology to provide the traveling public with the best security against terrorism available. The company, which offers a family of EDS systems with capabilities for smaller airports to large hubs, has more than 90 percent of the worldwide-certified EDS market, and has shipped more than 250 FAA-certified CTX systems worldwide. InVision's wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , Quantum Magnetics, develops and commercializes patented and proprietary technologies, including Quadrupole A quadrupole is one of a sequence of configurations of electric charge or gravitational mass that can exist in ideal form, but it is usually just part of a multipole expansion of a more complex structure reflecting various orders of complexity. Resonance (QR) patents licensed from the Naval Research Laboratory Noun 1. Naval Research Laboratory - the United States Navy's defense laboratory that conducts basic and applied research for the Navy in a variety of scientific and technical disciplines NRL that are based on state-of-the-art, low-cost versions of magnetic resonance magnetic resonance, in physics and chemistry, phenomenon produced by simultaneously applying a steady magnetic field and electromagnetic radiation (usually radio waves) to a sample of atoms and then adjusting the frequency of the radiation and the strength of the adapted for explosives detection. This includes Quantum's QScan (R) line of aviation scanners and other explosive detection devices under development, including a hand-held wand and a prototype walk-through portal to screen airline passengers for explosives. Quantum's QR technology is considered to be the most promising landmine detection technology and the company is developing devices under multi-year contracts with the U.S. military. Quantum is also developing passive magnetic concealed weapons detection portal systems for aviation passenger screening. Additionally, InVision is active in the forest products industry through Inovec, its wholly owned subsidiary which manufactures and markets scanning optimization and control systems for the industry and has more than 600 systems installed worldwide. In addition, through WoodVision the company continues to develop its CT technology for wood scanning. Additional information about InVision can be obtained on the company's web site at http://www.invision-tech.com This news release contains forward-looking statements, including statements regarding projected revenues and plans relating to the company's products and services. Investors are cautioned to consider the important risk factors that could cause actual results to differ materially from those in the forward-looking statements in this news release. These risk factors include risks inherent to doing business with public agencies, such as limited funding; risks inherent in manufacturing and delivering products on time; risks inherent in the development of new products and new applications; and other risks detailed from time to time in the company's SEC reports, including the most recent reports on Forms 10-Q and 10-K. Note to editors: CTX and CTX 9000 DSi are trademarks of InVision Technologies, Inc. QScan is a registered trademark of Quantum Magnetics, Inc. |
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