OTTAWA, April 6 /CNW Telbec/ - OSI Geospatial Inc. (TSX: OSI) announced today that its mapping operations have signed contracts valued at approximately $3.8 million. The company expects to recognize the revenue from these contracts within the next 12 months.
"Our mapping operations have secured close to $4 million of business in the first four months of our fiscal year," said Ken Kirkpatrick, president and CEO of OSI Geospatial. "This provides evidence that the market conditions are improving for our mapping operations and we are confident that this success will continue."
About OSI Geospatial
OSI Geospatial Inc. delivers advanced geospatial systems and software that enable shared real-time situational awareness for military, safety and security applications. Our products and services enable our customers to integrate and visualize live data with any combination of sensor data, imagery, maps and charts. This capability provides our customers with enhanced operational performance, safety and security through shared real-time situational awareness. OSI Geospatial systems and software are in use by military, government, and commercial customers around the world. The company is publicly traded on the Toronto Stock Exchange. For additional information please visit www.osigeospatial.com.
This press release contains forward-looking statements and information that reflect the current view of OSI Geospatial with respect to future events and financial performance. Any such forward-looking statements are subject to risks and uncertainties and OSI Geospatial's actual results of operations could differ materially from historical results or current expectations. Additional information on these and other potential factors that could affect OSI Geospatial's financial results are detailed in disclosure documents filed from time to time with the applicable Canadian securities regulatory authorities.
Copyright (C) 2010 OSI Geospatial Inc. and its affiliated or related companies. ECPINS and COP-IDS are registered trademarks of Offshore Systems Ltd., an OSI Geospatial company. iGEN is a registered trademark of CHI Systems Inc., an OSI Geospatial company. Other company brand, product and service names are for identification purposes only and may be either trademarks, service marks or registered trademarks of their respective owners. Data subject to change without notice.
SOURCE OSI Geospatial Inc.
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