OSI Systems Revises 2020 Earnings Guidance

(RTTNews) - OSI Systems, Inc. (OSIS) said, for fiscal 2020, the company now expects non-GAAP earnings per share in a range of $4.45 - $4.65, revised from prior guidance range of $4.63 - $4.85. Sales are now estimated in a range of $1.165 billion to $1.185 billion, down from prior guidance range of $1.205 billion to $1.240 billion.

Third quarter non-GAAP net income per share was $1.20, compared to $1.17, prior year. Revenues were $292.9 million, compared to $304.3 million, last year.

Deepak Chopra, OSI Systems' CEO, said: "Although there has recently been increased demand for our healthcare products as a result of the pandemic, we expect certain delays in product deliveries and new orders in our other divisions as some of our customers are being negatively impacted by COVID-19."