OSI Systems Shares Drop After Short Seller Alleges Misrepresentation of Mexico Revenues

MT Newswires Live

03-13

OSI Systems (OSIS) shares dropped more than 7% in recent trading on Thursday after a short seller report said that the company misrepresented its financials regarding its Mexican business.

A Culper Research report said the company was falling behind on its contract obligations with Mexico's Ministry of Defense but alleged that it had already recognized 81% of the project's product and installation revenues.

Trading volume stood at around 640,000 shares against a daily average of about 222,000.

Price: 168.60, Change: -13.06, Percent Change: -7.19

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