OSI Lands Big TSA Deal

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Little OSI Systems Inc. said Tuesday that it won a big contract for its Rapiscan Systems unit.


Rapiscan makes an X-ray system that’s used to screen carry-on bags at airports. The contract is from the Transportation Security Administration and is worth up to $97 million. There are options that could make the contract worth close to $100 million.


OSI, of Hawthorne, has a $475 million market capitalization, making it a small-to medium-sized company.


The announcement comes two months after OSI reported a 260 percent jump in third quarter profits along with a 17 percent leap in sales.


Shares of OSI closed up 15 cents to finish at $27.40 on Tuesday. They have gained more than 36 percent so far in 2007.

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