CHATSWORTH, Calif., May 15, 2003 (PRIMEZONE) -- International Remote Imaging Systems, Inc. (AMEX:IRI), a manufacturer and marketer of automated IVD urinalysis systems and medical devices used in hospitals and reference clinical laboratories worldwide, today announced that its Advanced Digital Imaging Research, LLC (ADIR) subsidiary has been awarded a contract from Lockheed-Martin to assist in the analysis of images and video of the launch of the ill-fated Space Shuttle Columbia.
The project involves using image analysis techniques to analyze the disintegration of the Columbia Shuttle during reentry into the earth's atmosphere.
The National Aeronautics and Space Administration (NASA) has convened a panel of image processing experts to use modern digital imaging technology on images of the launch and reentry of the Shuttle to elucidate the sequence of events surrounding the liftoff and reentry.
"I am pleased to work with such a distinguished group of experts on this project," stated Dr. Kenneth Castleman, President of ADIR. "The analytical work of this investigation is very important to the future of the space program."
Dr. Kshitij Mohan, President and Chief Executive Officer of International Remote Imaging Systems, Inc. stated, "We believe that ADIR, with its technical expertise, can make a valuable contribution to the Columbia investigation. I also want to point out that our expertise in image analysis underpins the Automated Particle Recognition capability in our current urinalysis systems, and our upcoming iQ(200 urinalysis system. Dr. Castleman's team is also a valuable resource for other product development projects in the other divisions of the company."
Dr. Castleman worked for NASA at the Jet Propulsion Laboratory for 15 years before founding ADIR's predecessor company in 1985. He was inducted into the United States Space Foundation's Space Technology Hall of Fame in 1994, has written two textbooks and numerous scientific papers on digital image processing, assisted NASA in the analysis of films of the Challenger accident, and also worked on image analysis in the John F. Kennedy assassination case. He currently serves on an FBI scientific advisory group on imaging technology.
THE COMPANY
Advanced Digital Imaging Research, LLC, (ADIR) is a wholly owned research and development subsidiary of International Remote Imaging Systems, Inc. ADIR, based in the Houston, Texas area, assists in the advancement of proprietary imaging technology while conducting government-sponsored research and development in medical imaging and software, and contract research for corporate clients.
International Remote Imaging Systems, Inc. has an established reputation as a leader in automated urinalysis technology and image flow cytometry. The Company's Iris Diagnostics Division is a leader in automated urinalysis technology with workstations in major medical institutions throughout the world. Using a patented Automated Intelligent Microscopy (AIM) technology and Auto Analyte Recognition software (AAR), a significant reduction in the cost and time consuming steps for manual microscopic analysis can be achieved.
The StatSpin(r) subsidiary, based in Norwood, Mass., is a worldwide leader in accelerated sample preparation for blood, body fluids and urine analysis. The subsidiary makes innovative centrifuges and blood analysis products, including the world's fastest blood separator (30 seconds). StatSpin's worldwide markets include medical institutions, commercial laboratories, clinics, doctors' offices, veterinary labs and research facilities. Its bench top centrifuges are dedicated to applications for manual specimen preparation for coagulation, cytology, hematology and urinalysis.
SAFE HARBOR PROVISION
This news release contains forward-looking statements made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, the Company's views on future commercial revenues, market growth, capital requirements, new product introductions, and are generally identified by phrases such as "thinks," "anticipates," "believes," "estimates," "expects," "intends," "plans," and similar words. Forward-looking statements are not guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statement. These statements are based upon, among other things, assumptions made by, and information currently available to, management, including management's own knowledge and assessment of the Company's industry, competition and capital requirements. Other factors and uncertainties that could affect the Company's forward-looking statements include, among other things, the following: unexpected technical and marketing difficulties inherent in major product development efforts such as the current project to improve the Company's urinalysis workstation product line; the potential need for changes in long-term strategy in response to future developments; future advances in diagnostic testing methods and procedures, as well as potential changes in government regulations and healthcare policies, both of which could adversely affect the economics of the diagnostic testing procedures automated by the Company's products; rapid technological change in the microelectronics and software industries; and increasing competition from imaging and non-imaging based in-vitro diagnostic products. The Company refers interested persons to its most recent Annual Report on Form 10-K and its other SEC filings for a description of additional uncertainties and factors that may affect forward-looking statements. The Company assumes no duty to update its forward-looking statements.