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OSI Systems Reports Fiscal 2020 Second Quarter Financial Results
Record Q2 Revenues of $305 Million Record Q2 Earnings Per Diluted Share GAAP EPS of $1.12 Non-GAAP EPS of $1.27 Q2 Book-to-Bill Ratio of 1.1x HAWTHORNE,
About this update from Osi Systems, Inc.
[{"type":"text","content":"\n\nRecord Q2 Revenues of $305 Million\n\n\nRecord Q2 Earnings Per Diluted Share\n\n\nGAAP EPS of $1.12 \n\n\nNon-GAAP EPS of $1.27\n\n\n\n\nQ2 Book-to-Bill Ratio of 1.1x\n\n\n HAWTHORNE, Calif.--(BUSINESS WIRE)--\nOSI Systems, Inc. (the “Company” or “OSI Systems”) (NASDAQ: OSIS) today announced financial results for the three and six months ended December 31, 2019.\n\n\nDeepak Chopra, OSI Systems’ Chairman and Chief Executive Officer, stated, “We are pleased with the second quarter performance as we delivered record earnings. With strong second quarter bookings and a robust pipeline of opportunities, we are in a good position as we enter the second half of fiscal 2020.”\n\n\nFor the second quarter of fiscal 2020, the Company reported revenues of $305.3 million, compared to $303.2 million reported for the second quarter of fiscal 2019. Net income for the second quarter of fiscal 2020 was $21.0 million, or $1.12 per diluted share, compared to net income of $19.1 million, or $1.03 per diluted share, for the second quarter of fiscal 2019. Non-GAAP net income for the second quarter of fiscal 2020 was $23.8 million, or $1.27 per diluted share, compared to non-GAAP net income for the fiscal 2019 second quarter of $22.1 million, or $1.19 per diluted share.\n\n\nFor the six months ended December 31, 2019, revenues increased 5% to $596.2 million, compared with the same period a year ago. Net income for this period was $41.7 million, or $2.22 per diluted share, compared with $28.5 million, or $1.53 per diluted share, for the same period a year ago. Non-GAAP net income for the six months ended December 31, 2019 was $41.0 million, or $2.18 per diluted share, compared with non-GAAP net income of $37.3 million, or $2.00 per diluted share, for the comparable prior-year period.\n\n\nDuring the quarter ended December 31, 2019, the Company’s book-to-bill ratio was 1.1x. As of December 31, 2019, the Company's backlog was $886 million compared to $911 million as of June 30, 2019. Operating cash flow during the quarter ended December 31, 2019 was $34.8 million, and capital expenditures were $5.6 million.\n\n\nMr. Chopra commented, “Our Security division continued its strong momentum with 7% sales growth resulting in record second quarter revenues of $202 million. We continue to be well positioned in the marketplace as we target significant opportuni...