OSI Systems, Inc. (OSIS) increased its fiscal 2019 sales guidance to a range of $1.150 billion - $1.185 billion, which would represent growth of 6% to 9% compared to the prior fiscal year. Also, the company increased non-GAAP earnings guidance to $3.93 - $4.10 per diluted share for fiscal 2019.
OSI Systems reported revenues of $303.2 million for the second quarter of fiscal 2019, an increase of 9% from the $277.5 million reported for the second quarter of fiscal 2018. Non-GAAP net income for the second quarter was $22.1 million, or $1.19 per diluted share, compared to $19.1 million, or $0.97 per diluted share, previous year.
Deepak Chopra, OSI Systems' CEO, stated, "We are pleased to report excellent second quarter financial performance. We achieved record revenues leading to strong profits and solid cash flow. With a substantial backlog, we continue to see the Company well positioned for the remainder of fiscal 2019."
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