OSI Systems Q1 Adj. EPS Tops Estimates, But Revenues Miss; Boosts FY23 Adj. EPS Growth Outlook
(RTTNews) - OSI Systems, Inc. (OSIS) reported on Thursday that net income for the first quarter grew to $12.88 million or $0.75 per share from $11.24 million or $0.65 per share in the prior-year quarter.
Excluding items, adjusted earnings were $0.91 per share, compared to $0.87 per share in the year-ago quarter.
On average, four analysts polled by Thomson Reuters expected the company to report earnings of $0.86 per share for the quarter. Analysts' estimates typically exclude special items.
Total net revenues for the quarter declined to $279.21 million from $268.07 million in the same quarter last year. Analysts expected revenues of $280.01 million for the quarter.
Looking ahead to fiscal 2024, the company now projects adjusted earnings per share to grow by greater than 27 percent, up from the prior guidance for a growth of greater than 25 percent. The company continues to project revenue growth in excess of 18 percent.
The Street is looking for earnings of $7.80 per share on revenue grown of 18.10 percent to $1.51 billion for the year.
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