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Sep 30, 2023
Osi Systems Q1 2024 Earnings Report
OSI Systems reported Q1 2024 financial results, with revenue up 4% year-over-year and increased FY 2024 non-GAAP adjusted diluted EPS guidance.
Key Takeaways
OSI Systems reported Q1 FY24 revenues of $279.2 million, a 4% increase year-over-year. GAAP EPS was $0.75, and non-GAAP adjusted EPS was $0.91. The company increased its FY 2024 non-GAAP adjusted diluted EPS guidance to year-over-year growth of >27% and reiterated its FY 2024 revenues guidance.
Q1 revenues reached $279 million.
GAAP EPS stood at $0.75.
Non-GAAP adjusted EPS was $0.91.
Company's backlog was approximately $1.8 billion at the end of Q1 FY24.
Osi Systems
Osi Systems
Osi Systems Revenue by Segment
Revenue by Segment
Security Revenue
CapyFin.comOptoelectronics & Mfg Revenue
CapyFin.comHealthcare Revenue
CapyFin.com Forward Guidance
The Company is reiterating its fiscal 2024 revenues guidance with anticipated revenue growth in excess of 18% over revenues in fiscal 2023 and is increasing its non-GAAP adjusted diluted earnings per share guidance from greater than 25% growth to greater than 27% growth compared to non-GAAP adjusted diluted earnings per share for fiscal year 2023.
Positive Outlook
- Revenue growth in excess of 18% is anticipated for fiscal year 2024.
- Non-GAAP adjusted diluted earnings per share guidance increased to greater than 27% growth compared to fiscal year 2023.
- Strong performance in the Security division.
- Solid performance in the Optoelectronics and Manufacturing division.
- Focus on new product development in the Healthcare division, principally in patient monitoring.
Challenges Ahead
- Potential delays related to the award of domestic and international contracts.
- Failure to secure the renewal of key customer contracts.
- Delays in customer programs.
- Impact of potential information technology, cybersecurity or data security breaches.
- Changes in domestic and foreign government spending and budgetary, procurement and trade policies adverse to the Company's businesses.
Revenue & Expenses
Visualization of income flow from segment revenue to net income