Business
OSI Systems Reports Fiscal 2024 Fourth Quarter and Full Year Financial Results
Record Q4 Revenues of $481 Million (17% growth year-over-year) Record Fiscal Year Revenues of $1.54 billion (20% growth year-over-year) Q4 Earnings Per
About this update from Osi Systems, Inc.
[{"type":"text","content":"\n\nRecord Q4 Revenues of $481 Million (17% growth year-over-year)\n\n\n\nRecord Fiscal Year Revenues of $1.54 billion (20% growth year-over-year)\n\n\n\nQ4 Earnings Per Diluted Share\n\n\nGAAP Diluted EPS of $2.55\n\n\n\nRecord Non-GAAP Diluted EPS of $2.84\n\n\n\n\n\n\nFiscal Year Earnings Per Diluted Share\n\n\nGAAP Diluted EPS of $7.38\n\n\n\nRecord Non-GAAP Diluted EPS of $8.13 (31% growth year-over-year)\n\n\n\n\n\n\nStrong Bookings Lead to Q4-Ended Backlog of Approximately $1.7 Billion\n\n\n\nCompany Provides Fiscal 2025 Revenue and Non-GAAP EPS Guidance\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, 2024.\n\n\nDeepak Chopra, OSI Systems’ Chairman and Chief Executive Officer, stated, “We are pleased to report strong fourth quarter financial results as outstanding performance in the Security division led to record revenues and record adjusted earnings per share. Fiscal 2024 was a great success for the Company. With a backlog near all-time highs and visibility into a robust pipeline of opportunities, we believe we are well positioned for a strong fiscal 2025.”\n\n\nFor Q4 FY24, the Company reported revenues of $480.9 million, a 17% increase over the $411.9 million reported for the same quarter of the prior year. Net income for Q4 FY24 was $44.7 million, or $2.55 per diluted share, compared to net income of $42.4 million, or $2.46 per diluted share, for the same quarter of the prior year. Non-GAAP net income for Q4 FY24 was $49.7 million, or $2.84 per diluted share, compared to non-GAAP net income for the same quarter of the prior year of $45.8 million, or $2.66 per diluted share.\n\n\nFor the fiscal year ended June 30, 2024, revenues were $1.54 billion, a 20% increase over the $1.28 billion reported for the prior fiscal year. Net income for the fiscal year ended June 30, 2024 was $128.2 million, or $7.38 per diluted share, compared to $91.8 million, or $5.34 per diluted share, for the prior fiscal year. Non-GAAP net income for the fiscal year ended June 30, 2024 was $141.2 million, or $8.13 per diluted share, compared to non-GAAP net income of $106.7 million, or $6.21 per diluted share, for the prior year.\n\n\nAs of June 30, 2024, the Company's backlog was approximatel...