OSI Systems announced Monday that its security division had won a $102 million contract from the Department of Defense to support operations in Iraq.
The contract calls for the Hawthorne company’s security division, Rapiscan, to supply cargo and vehicle and inspection systems, along with spare parts, training, service and logistical support.
Monday’s news follows other recent announcements of new contracts, suggesting OSI might be making a comeback after last year’s loss of a $60 million contract with the Transportation Security Administration. OSI announced Friday that Rapiscan had obtained a contract to put an X-ray baggage inspection equipment in service at a “major Middle Eastern airport.”
OSI has also recently announced a $10 million contract to sell a mobile cargo and vehicle inspection system to an international client that, according to the company, would increase the use of Rapiscan systems in the Middle East.
OSI stock is still trading below the $76.70 peak it attained in late November, but has rebounded from the $47.38 nadir reached on Dec. 9 after news of the lost TSA contract.
In Monday’s trading, OSI’s stock price rose 3 percent to $66.76 on the Nasdaq.