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Rapiscan Systems Reports Deobligation of Funds for October 2009 U.S. Government Order
OSI Systems, Inc. (NASDAQ: OSIS : http://cts.businesswire.com/ct/CT?id...9b8bfe7da6863d ), a vertically-integrated provider of specialized electronics and services, today announced that its Security division, Rapiscan Systems has received notice of a deobligation of funds for a $17.6 million order from the U.S. government for multiple cargo and vehicle inspection systems. The original order was announced in October, 2009. As is standard for U.S. government awards, the government maintains the right to terminate a contract in whole or part without implying any fault of the contractor. This is commonly referred to as termination for convenience. The order was not included in the Company's
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