Welcome to our dedicated page for OSI Systems news (Ticker: OSIS), a resource for investors and traders seeking the latest updates and insights on OSI Systems stock.
OSI Systems, Inc. (OSIS) is a diversified global enterprise with over 30 years of expertise in electronics engineering and manufacturing. The company is focused on creating solutions for a safer and healthier world through its three primary business segments: Security, Healthcare, and Optoelectronics and Manufacturing. With offices and production facilities in more than a dozen countries and employing over 3,000 people, OSI Systems is a key player in multiple industries.
In the Security segment, OSI Systems, through its subsidiary Rapiscan Systems, is a global leader in security screening, with over 70,000 systems installed across more than 100 countries. These products are known for their outstanding threat detection, proven reliability, and exceptional value.
The Healthcare segment, represented by Spacelabs Healthcare, focuses on innovative patient monitoring, diagnostic cardiology, ventilation systems, and defibrillators. Their aim is to connect innovation with care, providing healthcare professionals with the tools necessary to improve patient outcomes.
Lastly, the Optoelectronics and Manufacturing segment designs and manufactures specialized electronic components and provides engineering and manufacturing services. These offerings serve both the Security and Healthcare segments, as well as external original equipment manufacturers (OEMs).
OSI Systems' commitment to solving real-world problems and issues is evident through its continuous innovation and strategic partnerships. The company prides itself on helping security experts, clinical professionals, and high-tech developers by delivering high-quality, reliable products.
Financially, OSI Systems generates the majority of its revenue from the Americas, with additional significant contributions from Europe, the Middle East, Africa, and the Asia-Pacific regions. The company's robust product portfolio and strategic presence globally make it a significant player in its field.
Stay updated with the latest news and developments from OSI Systems to better understand their market performance and strategic moves.
OSI Systems (NASDAQ: OSIS) has announced that Ajay Mehra, current President of OSI's Security division and Executive Vice President, will become the company's new President and CEO effective January 1, 2025. Mehra will succeed Deepak Chopra, who will transition to Executive Chairman of the Board.
Mehra, who joined OSI in 1989, previously served as CFO during the company's IPO and led the launch of the Security division, which has grown to over $1 billion in annual revenues. Under his leadership, the Security division has become a market leader through the Rapiscan® brand, serving global security and defense agencies, sporting events, and private facilities.
OSI Systems' Optoelectronics and Manufacturing division has secured an $11 million order to provide electronic sub-assemblies for a leading healthcare OEM manufacturer. The order demonstrates the company's ongoing partnership with medical technology providers and its capability to deliver specialized electronic components for advanced medical solutions.
OSI Systems (NASDAQ: OSIS) announced that its Optoelectronics and Manufacturing division has secured a $6 million order to provide optical sensors for patient care devices. The order comes from a leading healthcare original equipment manufacturer (OEM), which is described as a long-standing customer.
OSI Systems (NASDAQ: OSIS) announced that its Healthcare division, Spacelabs Healthcare, has secured a $6 million order from a U.S. based hospital system for patient monitoring solutions. The company will provide various monitoring tools including Xhibit Central Stations, Xprezzon bedside monitors, Qube portable patient monitors, and the ICS G2 clinical information system with SafeNSound alarm management features.
OSI Systems (NASDAQ: OSIS) reported strong fiscal 2025 first quarter results with record Q1 revenues of $344.0 million, representing a 23% year-over-year increase. Net income reached $17.9 million, or $1.05 per diluted share, up from $12.9 million ($0.75 per share) in the prior year. The company's Security division showed exceptional performance with a 36% revenue increase year-over-year. The backlog grew to approximately $1.8 billion, up from $1.7 billion in June 2024. Based on strong performance, OSI Systems increased its fiscal 2025 guidance, projecting revenues of $1.670-1.695 billion and non-GAAP adjusted EPS of $9.00-$9.30.
OSI Systems (Nasdaq: OSIS) has announced its upcoming quarterly conference call, scheduled for Thursday, October 24, 2024, at 9:00 am PT. The call will discuss the company's financial results for the quarter ending September 30, 2024.
Investors and interested parties can access the webcast through the investor relations section of the company's website at www.osi-systems.com. For those unable to attend the live call, a replay will be available from 12:00 pm PT on October 24, 2024, until November 8, 2024. The replay can also be accessed via the investor relations section of the OSI Systems website.
OSI Systems, Inc. (NASDAQ: OSIS) has commenced operations in Uruguay to enhance security and efficiency at ports and borders through advanced customs screening applications. The company is collaborating with Uruguay's Ministry of Economics and Finance, utilizing EAGLE® T60 high-energy, trailer-mounted vehicle inspection systems and performing security screening and remote image analysis using its proprietary CertScan® integration platform.
OSI Systems will also provide ongoing management training, maintenance, service, and support. The company's CEO, Deepak Chopra, expressed excitement about supporting Uruguay's customs and border security activity. OSI Systems has similar turnkey border and port inspection programs operating with multiple international customs, border, and port authorities, which have proven successful in improving public safety, security, and customs declaration accuracy.
OSI Systems (NASDAQ: OSIS) has secured a significant contract through its Security division. The initial order, valued at approximately $27 million, is for maintenance service and technology support of Rapiscan® cargo and vehicle inspection systems. This order is expected to be completed in fiscal 2025.
The contract also includes four option periods spanning about three years, with a potential total value of $117 million if all options are exercised by the U.S. based customer. Deepak Chopra, OSI Systems' Chairman and CEO, expressed appreciation for the award and commitment to supporting the customer's security needs.
OSI Systems (NASDAQ: OSIS) has secured a $26 million contract for its Security division from an international customer. The contract involves providing comprehensive maintenance services and advanced operator training for the customer's existing fleet of Rapiscan cargo and vehicle inspection systems used at port and border crossings.
CEO Deepak Chopra expressed satisfaction with the continued support of the customer's critical operations, emphasizing the company's commitment to enhancing global security through its broad solutions offering. OSI Systems, with over 40 years of experience, operates globally in the homeland security, healthcare, defense, and aerospace industries.
OSI Systems (NASDAQ: OSIS) has secured a $5 million order for its Optoelectronics and Manufacturing division to provide advanced optical sensors to a leading defense electronics OEM. These high-precision components are designed for integration into complex navigation and guidance systems. The order highlights OSI Systems' role in contributing to global security through innovative optical sensor solutions.
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