OSI Systems (NASDAQ:OSIS) Announces Record Q2 Revenues and Earnings –

OSI Systems, Inc. has recently released its financial results for the quarter ending December 31, 2024. With a notable increase in revenue and earnings, the company’s President and CEO, Ajay Mehra, expressed satisfaction with the results. The company reported record Q2 revenues of $419.8 million, which marks a significant 12% growth compared to the previous year’s Q2 revenue of $373.2 million. Net income for Q2 FY25 amounted to $37.8 million, translating to $2.22 per diluted share, compared to $36.6 million or $2.11 per diluted share in the same quarter of the previous fiscal year. Non-GAAP net income for Q2 FY25 stood at $41.2 million or $2.42 per diluted share, unlike the $38.3 million or $2.21 per diluted share reported for the same quarter of the prior year.

For the six months ending December 31, 2024, OSI Systems reported revenues of $763.8 million, reflecting a substantial increase from $652.4 million in the corresponding period the prior year. The net income for the six months came in at $55.8 million, equating to $3.27 per diluted share. This figure contrasts with the net income of $49.4 million or $2.87 per diluted share for the same period in the previous fiscal year. The non-GAAP net income for this six-month period was $62.5 million or $3.67 per diluted share, higher than the $53.8 million or $3.12 per diluted share from the prior year.

The company’s book-to-bill ratio in the second quarter of fiscal 2025 was 1.2, and as of December 31, 2024, its backlog exceeded $1.8 billion. Cash from operations for the quarter was reported at $52.5 million, a notable improvement from a cash used in operations of $23.5 million in the same quarter of the previous year. Capital expenditures for the quarter were $5.5 million compared to $3.5 million in the previous year’s quarter.

CEO Ajay Mehra emphasized the successful performance in the Security division, highlighting a 16% year-over-year revenue increase and robust operating income growth. The Optoelectronics and Manufacturing division also exhibited positive financial results in the second quarter of fiscal 2025, with year-over-year growth in revenues and operating income. Additionally, the Healthcare division showed promising sales growth and bookings momentum.

Looking ahead, OSI Systems adjusted its fiscal 2025 revenue and non-GAAP diluted earnings per share guidance. The new updated guidance forecasts revenues in the range of $1.685 billion to $1.710 billion, reflecting a growth rate between 9.5% and 11.1%. The non-GAAP diluted earnings per share are anticipated to range from $9.10 to $9.40, reflecting a growth rate of 11.9% to 15.6%.

It is important to note that the company provided a detailed breakdown of GAAP to non-GAAP financial measures, offering insights and comparisons for a better understanding of its financial performance across different divisions. Investors and stakeholders in OSI Systems can access further information through their official announcement and financial statements.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read OSI Systems’s 8K filing here.

About OSI Systems

OSI Systems, Inc designs and manufactures electronic systems and components. It operates in three segments: Security, Healthcare, and Optoelectronics and Manufacturing. The Security segment offers baggage and parcel inspection, cargo and vehicle inspection, hold baggage and people screening, radiation monitoring, explosive and narcotics trace detection systems, and optical inspection systems under the Rapiscan name.