OSI Systems Receives $6 Million Order for Electronic Assemblies

Rhea-AI Summary

OSI Systems, Inc. (NASDAQ: OSIS) has secured a $6 million order for electronic assemblies for an advanced engineered solutions OEM. The company's Optoelectronics and Manufacturing division will fulfill the order, showing commitment to supporting the OEM.

Positive

• OSI Systems secured a $6 million order for electronic assemblies, showcasing a strong revenue stream.
• Commitment to supporting the OEM highlights a positive long-term relationship and potential for future collaborations.

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 an order for approximately $6 million to provide electronic assemblies to an advanced engineered solutions OEM.

OSI Systems’ Chairman and Chief Executive Officer, Deepak Chopra, commented, “We are committed to continuing our support for this OEM and look forward to furthering our collaboration.”

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/20240507856035/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 stock symbol for OSI Systems?

The stock symbol for OSI Systems is NASDAQ: OSIS.

How much was the order for electronic assemblies?

The order was approximately $6 million.

Who commented on the order for electronic assemblies?

OSI Systems' Chairman and Chief Executive Officer, Deepak Chopra, commented on the order.