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OSI Systems Inc. (OSIS) Pulled Back Sharply After Q2 Report

OSI Systems Inc. (OSIS) reported second quarter adjusted net income of $0.70 per share Thursday morning, up from $0.61 per share in the prior year. The consensus estimate was for EPS of $0.67. Revenues for the quarter grew 3 percent to $194.05 million, but missed analysts' estimate of $211.41 million.

The company also reaffirmed its fiscal 2013 earnings guidance of $2.77 to $3.00 per share. Analysts expect fiscal 2013 earnings of $2.84 per share.

OSI Systems gapped open sharply lower Thursday, but traded in a range for the bulk of the session. Shares finished down by 14.03 at $57.33 on strong volume. The stock dropped to a 2-month low and fell below both its 50 and 200-day moving averages.

by RTTNews Staff Writer

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