OSI Systems Announces Order Cancellation Notice from TSA

OSI Systems

today announced that its security division, Rapiscan Systems, was notified by the U.S. Transportation Security Administration (TSA) that a delivery order placed with Rapiscan on September 26, 2013 for Advanced Technology X-Ray (AT-2) based systems was being terminated for default. As a result, the Company has de-booked this order which had a value of approximately $60 million. TSA further stated it will issue a revised solicitation for the systems in the future. About OSI Systems, Inc. OSI Systems, Inc. is a vertically integrated designer and manufacturer of specialized electronic systems and components for critical applications. The Company sells its products and services in diversified