OSI Systems Q3 Results Top Estimates; Boosts FY24 Adj. EPS Growth Outlook

(RTTNews) - OSI Systems, Inc. (OSIS) reported on Thursday that net income for the third quarter grew to $34.04 million or $1.95 per share from $21.81 million or $1.27 per share in the prior-year quarter.

Excluding items, adjusted earnings were $2.16 per share, compared to $1.49per share in the year-ago quarter.

On average, four analysts polled by Thomson Reuters expected the company to report earnings of $2.10 per share for the quarter. Analysts' estimates typically exclude special items.

Total net revenues for the quarter grew to $405.41 million from $302.89 million in the same quarter last year. Analysts expected revenues of $403.46 million for the quarter.

Looking ahead to fiscal 2024, the company now projects adjusted earnings per share to grow by greater than 30 percent, up from the prior guidance for a growth of greater than 29 percent. The company continues to project revenue growth in excess of 19 percent.

The Street is looking for earnings of $8.02 per share on revenue grown of 18.90 percent to $1.52 billion for the year.

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