OSI Gets Government Pact

The contracts are worth $13.2 million.
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OSI Systems

(OSIS) - Get Report

gained after the Hawthorne, Calif., security and inspection-systems company said its Rapiscan Systems unit received $13.2 million in contract orders from the Transportation Security Administration.

In June, Rapiscan said it had been awarded an $800,000 grant from the TSA for phase one of a security project at 450 airports throughout the U.S. In phase two, Rapiscan will implement software throughout its installed base of checkpoint X-ray systems, a task it expects to complete by the end of the fiscal year.

Shares were trading up 76 cents, or 3.7%, to $21.08.