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Mar 31, 2023
Osi Systems Q3 2023 Earnings Report
OSI Systems' Q3 2023 financial results were announced, featuring a revenue increase and adjusted operating income growth.
Key Takeaways
OSI Systems reported a 4% increase in revenue and a 17% increase in adjusted operating income for Q3 2023. The company's backlog reached a record $1.5 billion, and operating cash flow significantly surpassed the previous year's quarter. The company reiterates FY 2023 revenues guidance and non-GAAP adjusted EPS guidance.
Revenues for Q3 2023 reached $302.9 million, a 4% increase year-over-year.
GAAP EPS for Q3 2023 was $1.27 per diluted share.
Non-GAAP adjusted EPS for Q3 2023 was $1.49 per diluted share.
The backlog at the end of Q3 2023 reached a record $1.5 billion, representing a 19% increase from June 30, 2022.
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 2023 revenues guidance of $1.240 billion - $1.265 billion and non-GAAP adjusted diluted earnings per share guidance of $6.02 - $6.25.
Positive Outlook
- Company is reiterating its fiscal year 2023 revenue guidance.
- Company is reiterating its fiscal year 2023 non-GAAP adjusted diluted earnings per share guidance.
- Expected revenue growth of 11% - 18% for Q4 year-over-year.
- Expected adjusted EPS Growth of 26% - 38% for Q4 year-over-year.
- Poised for a strong finish to fiscal 2023.
Challenges Ahead
- Actual revenues and adjusted diluted earnings per share could vary from this guidance due to factors discussed under “Forward-Looking Statements” or other factors.
- Delays related to the award of domestic and international contracts.
- Failure to secure the renewal of key customer contracts.
- Delays in customer programs.
- 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