correction: recasts the entire story to say profit increased and revenues declined.
OSI Systems, Inc. (OSIS) reported first-quarter net income of $2.51 million or $0.14 per share, compared with $132 thousand or $0.01 per share last year.
On average, 4 analysts polled by Thomson Reuters expected the company to report earnings of $0.07 per share. Analysts' estimates typically exclude special items.
Revenues fell to $133.76 million from $148.16 million in the prior year quarter. Three analysts estimated revenues of $138.84 million.
The Company announced that it anticipates fiscal 2010 sales to be between $620 million and $640 million, representing a 5% to 8% increase over fiscal 2009 and 10% to 15% year-over-year growth for the nine-months ending June 30, 2010.
In addition, the Company raised its earnings guidance and expects earnings per share to increase at a rate of 25%-35% to $1.14 - $1.23, excluding the impact of restructuring and other non-recurring charges incurred in fiscal 2009. Earlier, the company anticipated a 15% - 30% growth in earnings to $1.05 - $1.18 per share, excluding the impact of impairment, restructuring and other non-recurring charges.
Analysts expect the company to earn $1.11 per share, on revenues of $610.08 million.
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