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U.S. homeland security notice weighs on OSI Systems' new contracts

OSI Systems Inc said the U.S. Department of Homeland Security has issued it a "proposed debarment notice" related to privacy concerns over its full-body passenger scanners used in airports, limiting the company's ability to sign new federal government contracts until the issue is resolved.OSI Systems shares fell as much as 17 percent on the Nasdaq on Monday. They were down about 9 percent at $60.40 in the afternoon.The U.S. Transportation Security Administration (TSA) canceled its contract with OSI in January for its scanners using an X-ray technology called backscatter that displays naked images of passengers to security officers.A TSA spokesman said in January the agency was in the process of removing all backsetter units from airports, replacing them with L-3 Communications Holdings scanners which only creates a generic outline of passengers' bodies.The agency gave OSI's Rapiscan unit until June 2013 to come up with a software upgrade to prevent the scanner from projecting the naked...

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