Electronic components maker OSI , Inc. (OSIS) posted better-than-expected profit for the first quarter, despite a 10% decline in revenue, and lifted full-year earnings expectation, above Street view. The company says it is positioned for substantial sales and earnings growth in fiscal 2010, as outstanding bookings led to a backlog of $234 million at quarter-end.
Net income for the quarter rose to $2.5 million, or $0.14 per share, from year-ago $0.1 million, or $0.01 per share, and double the consensus estimate of 7 cents per share. Excluding this 100% profit beat, the company has topped estimates in the past four quarters by an average 37.3%.
Revenues declined 9.7% to $133.8 million from $148.2 million last year and below the consensus estimate of $138.8 million.
As of September 30, 2009, the company's backlog was $234 million, a 15% increase from $203 million as of June 30, 2009. OSI Systems also said its Security division achieved a record backlog of $146 million by quarter-end, while its Healthcare division achieved a record operating profit.
On this positive note, the company raised its earnings outlook for fiscal 2010 to $1.14 to $1.23 per share from prior projections of $1.05 to $1.18 per share. Analysts are looking for $1.11 a share. Sales for the full year is expected to be between $620 million and $640 million, representing a 5% to 8% growth over fiscal 2009. Analysts are looking for sales of $610.08 million.
Separately, the company said it received about $29 million in orders from the U.S. Customs and Border Protection to provide advanced cargo and vehicle inspection solutions for trucks and shipping containers entering the U.S.
For comments and feedback contact: editorial@rttnews.com
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.