Last10K.com

Osi Systems Inc (OSIS) SEC Filing 10-Q Quarterly report for the period ending Sunday, September 30, 2018

Osi Systems Inc

CIK: 1039065 Ticker: OSIS

Exhibit 99.1

OSI Systems Reports Fiscal 2019 First Quarter Financial Results

  • Record Q1 Revenue of $266.2 Million (4% increase over prior year)
  • Q1 Earnings Per Diluted Share
    • GAAP EPS of $0.50
    • Non-GAAP EPS of $0.81
  • Backlog of $1.035 Billion (22% year-over-year increase)
  • Company Raises Guidance for Fiscal Year 2019 Sales and Non-GAAP Diluted EPS

HAWTHORNE, Calif.--(BUSINESS WIRE)--October 25, 2018--OSI Systems, Inc. (the “Company” or “OSI Systems”) (NASDAQ: OSIS) today announced financial results for the quarter ended September 30, 2018.

Deepak Chopra, OSI Systems’ Chairman and Chief Executive Officer, stated, “We are pleased with the first quarter performance as we delivered record first quarter revenues and solid profit. Our growing backlog and strong book-to-bill ratio reflect a robust pipeline of opportunities, putting us in good position for the remainder of fiscal 2019.”

The Company reported revenues of $266.2 million for the first quarter of fiscal 2019, an increase of 4% from the $257.1 million reported for the first quarter of fiscal 2018. Net income for the first quarter of fiscal 2019 was $9.4 million, or $0.50 per diluted share, compared to net income of $10.2 million, or $0.52 per diluted share, for the first quarter of fiscal 2018. Non-GAAP net income for the first quarter of fiscal 2019 was $15.3 million, or $0.81 per diluted share, compared to non-GAAP net income for the fiscal 2018 first quarter of $15.5 million, or $0.79 per diluted share.

During the quarter ended September 30, 2018, the Company’s book-to-bill ratio was 1.2. As of September 30, 2018, the Company’s backlog was $1.035 billion as compared to $976 million as of June 30, 2018.

Mr. Chopra commented, “Our Security division achieved record first quarter revenues of $170 million, with strong operating profit. Bookings were robust, leading to significant growth in our backlog. We continue to be well positioned in the global marketplace to capitalize on future opportunities.”

Mr. Chopra continued, “Our Optoelectronics and Manufacturing division performed well as sales increased 20% over the same prior-year period, inclusive of acquisitions. A strong mix of revenues and operational execution led to significant year-over-year operating margin expansion.”

Mr. Chopra concluded, “Although we were disappointed by the financial results in our Healthcare division, we remain dedicated to improving our competitive position. We are focused on enhancing our core products, developing new products, and growing the supplies and accessories business.”

Fiscal Year 2019 Outlook

The Company is raising its fiscal year 2019 sales guidance to a range of $1.140 billion to $1.175 billion, which would represent growth of 5% to 8% compared to the prior fiscal year. The Company is also increasing its non-GAAP earnings guidance to $3.85 to $4.05 per diluted share for fiscal 2019. Actual sales and non-GAAP diluted earnings per share could vary from this guidance due to factors discussed under “Forward-Looking Statements” or other factors.

The Company’s fiscal 2019 diluted earnings per share guidance is provided on a non-GAAP basis only. The Company does not provide a reconciliation of non-GAAP diluted EPS guidance to GAAP diluted EPS (the most directly comparable GAAP measure) on a forward-looking basis because the Company is unable to provide a meaningful or accurate compilation of reconciling items and certain information is not available. This is due to the inherent difficulty and complexity in accurately forecasting the timing and amounts of various items that would be excluded from GAAP diluted EPS, including, for example, acquisition costs and other non-recurring items that have not yet occurred, are out of the Company’s control or cannot be reasonably predicted. For the same reasons, the Company is unable to address the probable significance of unavailable information which may be material and therefore could result in GAAP diluted EPS, the corresponding GAAP financial measure, being materially less than projected non-GAAP diluted EPS.


The following information was filed by Osi Systems Inc (OSIS) on Thursday, October 25, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate Osi Systems Inc's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Osi Systems Inc.

Continue

Assess how Osi Systems Inc's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Osi Systems Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

SEC Filing Tools

Rating

Learn More
Bullish Bearish Neutral
Filter Sentiment:
All
Positive
Negative
Filter Category:
All
Financial
Revenue
Other
Filter Subcategory:
All
Earnings
Expense
Shares
Product
Geography
Other
Inside Osi Systems Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical)
Condensed Consolidated Statements Of Cash Flows (Unaudited)
Condensed Consolidated Statements Of Comprehensive Income (Unaudited)
Condensed Consolidated Statements Of Operations (Unaudited)
Balance Sheet Details
Balance Sheet Details (Details)
Balance Sheet Details (Tables)
Basis Of Presentation
Basis Of Presentation (Policies)
Basis Of Presentation (Tables)
Basis Of Presentation - Cash Equivalents (Details)
Basis Of Presentation - Description Of Business (Details)
Basis Of Presentation - Fair Value (Details)
Basis Of Presentation - Per Share Computations (Details)
Basis Of Presentation - Revenue Recognition (Details)
Borrowings
Borrowings (Details)
Borrowings (Tables)
Business Combinations
Business Combinations (Tables)
Business Combinations - Explosive Trace Detection (Details)
Business Combinations - Fiscal Year 2019 Business Acquisitions (Details)
Business Combinations - Intangible Assets (Details)
Business Combinations - Other Business Acquisition (Details)
Commitments And Contingencies
Commitments And Contingencies (Tables)
Commitments And Contingencies - Contingent Acquisition Obligations (Details)
Commitments And Contingencies - Product Warranties (Details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Tables)
Goodwill And Intangible Assets - Goodwill (Details)
Goodwill And Intangible Assets - Intangible Amortization (Details)
Goodwill And Intangible Assets - Intangible Assets Subject To Amortization (Details)
Income Taxes
Income Taxes - (Details)
Restructuring And Other Charges
Restructuring And Other Charges (Tables)
Restructuring And Other Charges - Changes In The Accrual For Restructuring And Other Charges (Details)
Restructuring And Other Charges - Restructuring And Other Charges (Details)
Retirement Benefit Plans
Retirement Benefit Plans (Details)
Retirement Benefit Plans (Tables)
Segment Information
Segment Information (Tables)
Segment Information - Operations And Identifiable Assets (Details)
Stockholders' Equity
Stockholders' Equity (Tables)
Stockholders' Equity - Share Repurchase Program (Details)
Stockholders' Equity - Stock-Based Compensation (Details)
Ticker: OSIS
CIK: 1039065
Form Type: 10-Q Quarterly Report
Accession Number: 0001104659-18-064220
Submitted to the SEC: Fri Oct 26 2018 1:25:42 PM EST
Accepted by the SEC: Fri Oct 26 2018
Period: Sunday, September 30, 2018
Industry: Semiconductors And Related Devices

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/osis/0001104659-18-064220.htm