OSI Systems Inc. on Tuesday said that its Rapiscan Systems security division was awarded a $35 million contract to upgrade baggage screening systems at 12 airports in Mexico.
The Hawthorne company will install its Rapiscan advanced screening baggage handling and related equipment upgrades at airports operated by Grupo Aeroportuario del Pacifico in Central and Northern Mexico, including Guadalajara, Puerto Vallarta and Los Cabos.
“We believe that our combination of a successful track record, cost-effective, state-of-the-art technologies and efficient services make us an ideal supplier of aviation security systems for fast-growing emerging markets such as Latin America,” said Chief Executive Deepak Chopra in a press release.
Shares were down 48 cents, or 1.6 percent, to $30.21 on the Nasdaq. A Morgan Keegan analyst this morning downgraded the company’s shares from “outperform” to “market perform.” OSI’s share price is up 47 percent from a month ago as airport security concerns over the holidays increased speculation that Rapiscan would gain more business.
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