Business
OSI Systems Reports Fiscal 2023 Second Quarter Financial Results
Q2 Revenues of $296 Million Q2 Earnings Per Diluted Share GAAP EPS of $0.96 Adjusted EPS of $1.19 Q2 Book-to-Bill Ratio of 1.7 Record Q2 Ended Backlog of
About this update from Osi Systems, Inc.
[{"type":"text","content":"\n\nQ2 Revenues of $296 Million\n\n\nQ2 Earnings Per Diluted Share\n\n\nGAAP EPS of $0.96\n\n\nAdjusted EPS of $1.19\n\n\n\n\nQ2 Book-to-Bill Ratio of 1.7\n\n\nRecord Q2 Ended Backlog of $1.5 Billion (21% increase from June 30, 2022)\n\n\nCompany Reiterates FY 2023 Adjusted EPS Guidance and Narrows Range of Revenue Guidance\n\n\nH2 Year-Over-Year Revenue Growth of 8% - 12%\n\n\nH2 Year-Over-Year Adjusted EPS Growth of 17% - 23%\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 three and six months ended December 31, 2022.\n\nDeepak Chopra, OSI Systems’ Chairman and Chief Executive Officer, stated: “Overall, our second quarter performance was solid in an economy that continues to be challenged by supply chain constraints, inflationary pressures, and rising interest rates. Our Q2 bookings were outstanding as we were awarded multiple significant new contracts leading to record backlog. Given our significant backlog and pipeline of opportunities, we anticipate strong revenue and adjusted earnings growth for the balance of fiscal 2023.”\n\nFor the second quarter of fiscal 2023, the Company reported revenues of $295.6 million, a 7% increase compared to the $276.7 million reported for the second quarter of fiscal 2022. Net income for the second quarter of fiscal 2023 was $16.4 million, or $0.96 per diluted share, compared to net income of $19.8 million, or $1.09 per diluted share, for the second quarter of fiscal 2022. Non-GAAP net income for the second quarter of fiscal 2023 was $20.4 million, or $1.19 per diluted share, compared to non-GAAP net income for the second quarter of fiscal 2022 of $23.2 million, or $1.28 per diluted share.\n\nFor the six months ended December 31, 2022, revenues were $563.7 million compared to $555.9 million in the same period a year ago. Net income for the six months ended December 31, 2022 was $27.6 million, or $1.61 per diluted share, compared with $38.8 million, or $2.13 per diluted share, for the same period a year ago. Non-GAAP net income for the six months ended December 31, 2022 was $35.3 million, or $2.06 per diluted share, compared with non-GAAP net income of $44.4 million, or $2.44 per diluted share, for the comparable prior-year period.\n\nFor the three months ended December 31, 2022, th...