Business
OSI Systems Reports Fiscal 2023 Fourth Quarter and Full Year Financial Results
Record Q4 Revenues of $412 Million (22% year-over-year growth) Record Q4 Earnings Per Diluted Share GAAP EPS of $2.46 (27% year-over-year increase) Non-GAAP
About this update from Osi Systems, Inc.
[{"type":"text","content":"\n\nRecord Q4 Revenues of $412 Million (22% year-over-year growth)\n\n\n\nRecord Q4 Earnings Per Diluted Share\n\n\nGAAP EPS of $2.46 (27% year-over-year increase)\n\n\n\nNon-GAAP Adjusted EPS of $2.66 (36% year-over-year increase)\n\n\n\n\n\n\nRecord Quarter-End Backlog of $1.8 Billion (46% increase from June 30, 2022)\n\n\n\nCompany Provides Fiscal 2024 Guidance\n\n\nSales Growth Guidance of >18%\n\n\n\nNon-GAAP Adjusted EPS Growth Guidance of >25%\n\n\n\n\n\n\n HAWTHORNE, Calif.--(BUSINESS WIRE)--\nOSI Systems, Inc. (the “Company” or “OSI Systems”) (NASDAQ: OSIS) today announced its financial results for the fourth quarter and fiscal year ended June 30, 2023.\n\n\nDeepak Chopra, OSI Systems’ Chairman and Chief Executive Officer, stated, “Our fourth quarter performance was stellar as revenues grew by 22% and non-GAAP adjusted earnings per share increased 36% year over year. Fourth quarter bookings were outstanding, leading to record backlog as we concluded a noteworthy fiscal year. We enter fiscal 2024 with great visibility and momentum, and we are enthusiastic about our prospects for this fiscal year.”\n\n\nFor the fourth quarter of fiscal 2023, the Company reported revenues of $411.9 million, a 22% increase compared to the $336.8 million reported for the fourth quarter of fiscal 2022. Net income for the fourth quarter of fiscal 2023 was $42.4 million, or $2.46 per diluted share, compared to net income in the fourth quarter of fiscal 2022 of $33.8 million, or $1.94 per diluted share. Non-GAAP net income for the fourth quarter of fiscal 2023 was $45.8 million, or $2.66 per diluted share, compared to non-GAAP net income for the fourth quarter of fiscal 2022 of $34.0 million, or $1.96 per diluted share.\n\n\nFor the fiscal year ended June 30, 2023, revenues increased 8% to $1.278 billion from $1.183 billion in the prior fiscal year. Net income for fiscal 2023 was $91.8 million, or $5.34 per diluted share, compared to net income for fiscal 2022 of $115.3 million, which included a gain on sale of $27.4 million for a sale-leaseback transaction, or $6.45 per diluted share. Non-GAAP net income for the fiscal year ended June 30, 2023 was $106.7 million, or $6.21 per diluted share, compared with non-GAAP net income of $103.8 million, or $5.81 per diluted share, for the 2022 fiscal year.\n\n\nAs of June 30, 2023, the Company's backlog w...