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Dec 31, 2023
Osi Systems Q2 2024 Earnings Report
OSI Systems reported record-breaking revenues and earnings for the second quarter of fiscal year 2024, driven by strong performance in the Security division and solid results in the Optoelectronics and Manufacturing division.
Key Takeaways
OSI Systems reported a record-breaking second quarter with revenues of $373.2 million, a 26% increase year-over-year. GAAP EPS was $2.11 and non-GAAP adjusted EPS was $2.21, an 86% increase year-over-year. The company increased its full-year revenue and non-GAAP adjusted EPS guidance.
Record Q2 revenues of $373 million, a 26% increase year-over-year.
GAAP EPS was $2.11.
Non-GAAP adjusted EPS was $2.21, an 86% increase year-over-year.
Q2 operating income growth of 105% year-over-year.
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 increasing its fiscal 2024 revenues guidance from anticipated growth in excess of 18% to anticipated growth in excess of 19% over revenues in fiscal 2023. The Company is also increasing its non-GAAP adjusted diluted earnings per share guidance from greater than 27% growth to greater than 29% growth compared to non-GAAP adjusted diluted earnings per share for fiscal year 2023.
Positive Outlook
- Increased fiscal 2024 revenue guidance to anticipated growth in excess of 19%.
- Increased non-GAAP adjusted diluted earnings per share guidance to greater than 29% growth.
- Strong execution in the Security division.
- Solid performance in the Optoelectronics and Manufacturing division.
- Robust backlog and high visibility into pipeline of opportunities.
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 and revenue recognition.
- Impact of potential information technology, cybersecurity or data security breaches.
- Changes in domestic and foreign government spending and budgetary, procurement and trade policies.
Revenue & Expenses
Visualization of income flow from segment revenue to net income