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) reported record Q4 revenues of $481 million, a 17% year-over-year increase, and record fiscal year revenues of $1.54 billion, up 20% from the previous year. Q4 GAAP diluted EPS was $2.55, while non-GAAP diluted EPS reached a record $2.84. For the full fiscal year 2024, GAAP diluted EPS was $7.38, and non-GAAP diluted EPS hit a record $8.13, representing 31% growth year-over-year.
The company's backlog at the end of Q4 stood at approximately $1.7 billion. The Security division showed strong performance with a 27% year-over-year revenue increase in Q4. OSI Systems provided fiscal 2025 guidance, projecting revenues between $1.620 billion and $1.650 billion, and non-GAAP adjusted earnings per diluted share between $8.80 and $9.15.
OSI Systems (Nasdaq: OSIS) has announced its upcoming quarterly conference call scheduled for Thursday, August 22, 2024, at 9:00am PT. The call will discuss the company's fourth quarter and fiscal year results for the period ending June 30, 2024. Investors can access the webcast through the investor relations section of the company's website at www.osi-systems.com. For those unable to attend live, a replay of the conference call will be available from 12:00pm PT on August 22, 2024, until September 5, 2024, accessible via the same investor relations webpage.
OSI Systems (NASDAQ: OSIS) has secured a $10 million order for its Z Backscatter® Van (ZBV®) cargo and vehicle inspection systems. The order, placed by an international customer, includes maintenance, training, and support services. These advanced security solutions are slated for deployment in border customs applications, reinforcing the company's role in enhancing global border security.
CEO Deepak Chopra expressed enthusiasm about delivering one of their most advanced and widely deployed security solutions, emphasizing the important role ZBV systems play in border security enhancement.
OSI Systems (NASDAQ: OSIS) has priced an upsized offering of $300 million in 2.25% convertible senior notes due 2029. The offering, initially set at $275 million, is expected to settle on July 19, 2024. The notes will mature on August 1, 2029, with an initial conversion rate of 5.2090 shares of common stock per $1,000 principal amount, representing an initial conversion price of $191.98 per share. This price reflects a 27.5% premium over the last reported sale price of $150.57 per share.
OSI estimates net proceeds of approximately $291.8 million from the offering. The company plans to use about $80 million to repurchase 531,314 shares of its common stock and the remainder to repay a portion of its revolving credit facility, pay related expenses, and for general corporate purposes.
OSI Systems (NASDAQ: OSIS) has announced its intention to offer $275 million in convertible senior notes due 2029, with an option for initial purchasers to buy an additional $41.25 million. The notes will be senior, unsecured obligations with semi-annual interest payments, maturing on August 1, 2029. Noteholders can convert under certain conditions, with OSI settling in cash and potentially shares. The company can redeem notes after August 6, 2027, subject to specific conditions.
OSI plans to use up to $100 million of the proceeds to repurchase common stock in private transactions. The remaining funds will be used to repay a portion of its revolving credit facility, cover related expenses, and for general corporate purposes. This offering is to qualified institutional buyers and is not registered under the Securities Act.
OSI Systems (NASDAQ: OSIS) has announced that its Executive Vice President and Chief Financial Officer, Alan Edrick, will participate in the CJS Securities 24th Annual New Ideas Summer Conference. This event, scheduled for July 10, 2024, will take place at the Metropolis Country Club in White Plains, NY. OSI Systems intends to deliver a presentation and host one-on-one meetings with investors during the conference.
OSI Systems, Inc. (NASDAQ: OSIS) has announced a $17 million order from an international customer for its cargo and vehicle inspection systems. The order includes the Eagle® P60 high-energy, drive-through cargo and vehicle inspection system and the T60 trailer-mounted vehicle inspection system. Additionally, OSI Systems will provide system installation, training, and multi-year service and maintenance support. This development highlights OSI Systems' commitment to enhancing security infrastructure through advanced inspection technologies and comprehensive support services.
OSI Systems announced that its Security division has secured an $11 million order for its Eagle® M60 mobile high-energy cargo and vehicle inspection systems. The order includes follow-on maintenance and support services. These systems are intended for international border and security use. According to OSI Systems’ Chairman and CEO, Deepak Chopra, this order showcases the trust in their advanced inspection technologies and the flexibility of the Eagle® M60 platform to enhance security measures.
OSI Systems, a leading security technology company, announced a $10 million order for its RTT® 110 hold baggage screening systems. The order, intended for an international airport in Latin America, includes multiple units of the RTT® 110 explosive detection system along with ongoing maintenance, service, and support. The RTT® 110 utilizes a proprietary stationary gantry for high-resolution 3-D imaging, ensuring efficient baggage and cargo inspection. OSI Systems CEO Deepak Chopra emphasized the company's commitment to innovation and advanced technology as global airports aim to meet new security standards and improve operational efficiency.
OSI Systems announced a $7 million order for its Optoelectronics and Manufacturing division to supply navigation sensors to a major aerospace and defense OEM. This order underscores the critical role of OSI Systems' sensors in aerospace and defense applications. CEO Deepak Chopra emphasized the importance of their high-performance technology in supporting advanced navigation systems.
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