OSI Systems Inc. (OSIS) announced an increased profit for its second quarter, showing a marked improvement from the same period in the previous year and exceeding market forecasts.
The company's net income reached $36.55 million, equating to $2.11 per share. In the second quarter of the last year, this figure stood at $16.35 million or $0.96 per share.
When accounting for certain factors, OSI Systems Inc. reported an adjusted income of $38.25 million for the period, or $2.21 per share.
On average, market analysts had predicted the company would report earnings of $1.74 per share according to data compiled by Thomson Reuters. It should be noted that analysts' estimations usually disregard special items.
In terms of revenue, the company increased by 26.3%, reporting a total of $373.24 million for the quarter, compared to $295.60 million in the same period last year.
To summarize, OSI Systems Inc. has reported the following second-quarter results (based on GAAP):
- Earnings: $36.55 million, an increase from the $16.35 million reported last year.
- Earnings per share (EPS): $2.11, up from $0.96 last year.
- Revenue: $373.24 million, a significant increase from the $295.60 million of last year.
- Analysts had predicted earnings of $1.74 per share.
