OSI Systems Receives $5 Million in Orders for Electronic Assemblies

Rhea-AI Summary

OSI Systems (OSIS) Receives $5 Million Orders for Electronic Assemblies from Leading Motion Control and Fluid Technology OEM

Positive

• OSI Systems' Optoelectronics and Manufacturing division secured approximately $5 million in orders, showcasing strong revenue potential.
• The company's CEO, Deepak Chopra, expressed satisfaction in continuing to support a global customer across diverse end-markets.

Negative

• None.

HAWTHORNE, Calif.--(BUSINESS WIRE)-- OSI Systems, Inc. (the “Company” or “OSI Systems”) (NASDAQ: OSIS) today announced that its Optoelectronics and Manufacturing division has received orders totaling approximately $5 million to provide electronic assemblies to a leading motion control and fluid technology OEM.

OSI Systems’ Chairman and Chief Executive Officer, Deepak Chopra, commented, “We are delighted to continue supporting this customer that serves a variety of end-markets worldwide.”

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/20231116577156/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 latest announcement from OSI Systems?

OSI Systems has received orders worth $5 million for electronic assemblies from a leading motion control and fluid technology OEM.

Who is the Chairman and CEO of OSI Systems?

Deepak Chopra is the Chairman and CEO of OSI Systems.

How much revenue is associated with the recent orders?

The recent orders total approximately $5 million, indicating significant revenue potential.