Business
OSI Systems Reports Fiscal 2020 Third Quarter Financial Results
Q3 Revenues of $293 Million Record Q3 Earnings Per Diluted Share GAAP EPS of $1.06 Non-GAAP EPS of $1.20 Strong Balance Sheet and Liquidity Position Q3 Cash
About this update from Osi Systems, Inc.
[{"type":"text","content":"\n\nQ3 Revenues of $293 Million\n\n\nRecord Q3 Earnings Per Diluted Share\n\n\nGAAP EPS of $1.06 \n\n\nNon-GAAP EPS of $1.20\n\n\n\n\nStrong Balance Sheet and Liquidity Position\n\n\nQ3 Cash Flow from Operations of $46 Million\n\n\nCompany Updates Fiscal Year 2020 Guidance\n\n\n\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 nine months ended March 31, 2020.\n\n\nDeepak Chopra, OSI Systems’ Chairman and Chief Executive Officer, stated, “During this unprecedented time, we want to thank all the healthcare professionals, first responders, and others who are on the front lines fighting the COVID-19 pandemic. As responsible global citizens, we are assisting this effort by carrying out our mission to create solutions for a safer and healthier world. Thank you to our employees and our business network for their incredible efforts to maintain supply of our critically important products around the globe. It is a unique time and we are rising to meet the challenge while simultaneously focusing on the safety of our employees.\n\n\n“We are pleased with our third quarter performance as we delivered record earnings per share and continue to have a strong balance sheet with a robust pipeline of opportunities. Although there has recently been increased demand for our healthcare products as a result of the pandemic, we expect certain delays in product deliveries and new orders in our other divisions as some of our customers are being negatively impacted by COVID-19.”\n\n\nFor the third quarter of fiscal 2020, the Company reported revenues of $292.9 million, compared to $304.3 million reported for the third quarter of fiscal 2019. Net income for the third quarter of fiscal 2020 was $19.6 million, or $1.06 per diluted share, compared to net income of $19.6 million, or $1.05 per diluted share, for the third quarter of fiscal 2019. Non-GAAP net income for the third quarter of fiscal 2020 was $22.1 million, or $1.20 per diluted share, compared to non-GAAP net income for the fiscal 2019 third quarter of $21.8 million, or $1.17 per diluted share.\n\n\nFor the nine months ended March 31, 2020, revenues increased 2% to $889.1 million, compared with the same period a year ago. Net income for this period was $61.3 million, or $3.28 per dilute...