OSI Systems Q2 Profit Down, But Above Estimates - Update

(Adds Outlook)

OSI Systems Inc. (OSIS) reported earnings for second quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $16.35 million, or $0.96 per share. This compares with $19.80 million, or $1.09 per share, in last year's second quarter.

Excluding items, OSI Systems Inc. reported adjusted earnings of $20.38 million or $1.19 per share for the period.

Analysts on average had expected the company to earn $1.17 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 99.9% to $295.60 million from $276.68 billion last year.


Looking ahead, for the fiscal 2023, the company has reaffirmed its adjusted income per share guidance of $6.02 - $6.25. Five analysts, on average, polled by Thomson-Reuters estimate the firm to report earnings per share of $6.11, for the year. Analysts' estimates typically exclude one-time items.

OSIS has revised its revenue expectation to $1.240 billion-$1.265 billion for the full year, from $1.240 billion - $1.275 billion. Analysts, on average, expect the company to register revenue of $1.25 billion.

OSI Systems Inc. Q2 earnings at a glance (GAAP) :

-Earnings (Q2): $16.35 Mln. vs. $19.80 Mln. last year.
-EPS (Q2): $0.96 vs. $1.09 last year.
-Analyst Estimates: $1.17
-Revenue (Q2): $295.60 Mln vs. $276.68 Bln last year.

Full year EPS guidance: $6.02 - $6.25
Full year revenue guidance: $1.240 - $1.265 Bln

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