OSI Systems Inc. (OSIS) reported that its third-quarter net income increased to $13.53 million or $0.66 per share, from $12.58 million or $0.62 per share, last year. Adjusted profit was $15.24 million or $0.74 per share for the quarter. The company said it achieved record earnings as a result of significant operating margin expansion, led by Security division.
Revenues decreased to $198.41 million from $208.44 million last year. The company reported lower revenues, but higher gross profit for the quarter.
On average, five analysts polled by Thomson Reuters expected the company to report profit of $0.74 per share for the quarter. Analysts' estimates typically exclude special items. Analysts expected revenue of $206.37 million for the quarter.
The company currently expects its fourth-quarter earnings per share in the range of $1.02 to $1.09, excluding the impact of impairment, restructuring and other charges. The company currently expects fourth-quarter revenues to be between $220 million and $230 million. Analysts expect the company to report fourth-quarter profit per share of $1.10 on revenue of $249.25 million.
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