OSI Systems Board Increases Share Buyback Program

Rhea-AI Summary

OSI Systems, Inc. (NASDAQ: OSIS) announced an increase in its share repurchase program to a total of 2,000,000 shares, building on the 1.9 million shares already bought back from an authorized 3 million. The shares may be purchased through open market transactions or private negotiations, without a set expiration date. OSI emphasizes that the actual number and timing of repurchases will depend on various market conditions and legal requirements. This initiative reflects the company's ongoing commitment to enhancing shareholder value.

Positive

• Increased share repurchase program to 2,000,000 shares, signaling confidence in the company's future.
• Approximately 1.9 million shares have already been repurchased, representing strong shareholder value.

Negative

• None.

HAWTHORNE, Calif.--(BUSINESS WIRE)-- OSI Systems, Inc. (NASDAQ: OSIS) today announced that the Company's board of directors has increased the number of shares available under the Company’s current share repurchase program to 2,000,000 shares. Of the 3 million shares authorized for repurchase under the buyback program established in 2020, the Company has purchased approximately 1.9 million shares of common stock.

Purchases may be made from time to time in the open market or in privately negotiated transactions and block trades, in accordance with federal securities laws, including Rule 10b-18 promulgated under the Securities Exchange Act of 1934, as amended. This program does not have an expiration date. The share repurchase program may be modified, terminated or expanded by the Company at any time without prior notice. There is no guarantee as to the exact number of shares, if any, that will be purchased by the Company. The amount and timing of any purchases will depend on a number of factors, including price, trading volume, general market conditions, legal requirements, and other factors.

About OSI Systems, Inc.

OSI Systems, Inc. is a vertically integrated designer and manufacturer of specialized electronic systems and components for critical applications in the homeland security, healthcare, defense and aerospace industries. We combine more than 40 years of electronics engineering and manufacturing experience with offices and production facilities in more than a dozen countries to implement a strategy of expansion into selective end product markets. For more information on OSI Systems, Inc. or any of its subsidiary companies, visit www.osi-systems.com. News Filter: OSIS-G

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements relate to OSI Systems’ current expectations, beliefs, and projections concerning matters that are not historical facts. Forward-looking statements are not guarantees of future performance and involve uncertainties, risks, assumptions, and contingencies, many of which are outside OSI Systems’ control and which may cause actual results to differ materially from those described in or implied by any forward-looking statements. Undue reliance should not be placed on forward-looking statements, which are based on currently available information and speak only as of the date on which they are made. OSI Systems assumes no obligation to update any forward-looking statement made in this press release that becomes untrue because of subsequent events, new information, or otherwise, except to the extent it is required to do so in connection with its ongoing requirements under Federal securities laws. For a further discussion of factors that could cause OSI Systems’ future results to differ materially from any forward-looking statements, see the section entitled "Risk Factors" in OSI Systems’ most recently filed Annual Report on Form 10-K and other risks described therein and in documents subsequently filed by OSI Systems from time to time with the Securities and Exchange Commission.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220919005321/en/

OSI Systems Inc

Ajay Vashishat

Vice President, Business Development

310-349-2237

avashishat@osi-systems.com

Source: OSI Systems, Inc.

FAQ

What is the new total for OSI Systems' share repurchase program?

The total for the share repurchase program has been increased to 2,000,000 shares.

How many shares has OSI Systems bought back under the repurchase program?

OSI Systems has purchased approximately 1.9 million shares under the current repurchase program.

Does OSI Systems have an expiration date for its share repurchase program?

No, the share repurchase program does not have an expiration date.

What factors affect OSI Systems' share repurchase timing?

The timing and amount of purchases will depend on price, trading volume, market conditions, and legal requirements.