OSI Systems (NASDAQ: OSIS) reported Q1 EPS of $0.81, $0.20 better than the analyst estimate of $0.61. Revenue for the quarter came in at $266.2 million versus the consensus estimate of $247.03 million.

• Record Q1 Revenue of $266.2 Million (4% increase over prior year)
• Q1 Earnings Per Diluted Share
  • GAAP EPS of $0.50
  • Non-GAAP EPS of $0.81
• Backlog of $1.035 Billion (22% year-over-year increase)
• Company Raises Guidance for Fiscal Year 2019 Sales and Non-GAAP Diluted EPS

Deepak Chopra, OSI Systems’ Chairman and Chief Executive Officer, stated, “We are pleased with the first quarter performance as we delivered record first quarter revenues and solid profit. Our growing backlog and strong book-to-bill ratio reflect a robust pipeline of opportunities, putting us in good position for the remainder of fiscal 2019.”

Mr. Chopra commented, “Our Security division achieved record first quarter revenues of $170 million, with strong operating profit. Bookings were robust, leading to significant growth in our backlog. We continue to be well positioned in the global marketplace to capitalize on future opportunities.”

Mr. Chopra continued, “Our Optoelectronics and Manufacturing division performed well as sales increased 20% over the same prior-year period, inclusive of acquisitions. A strong mix of revenues and operational execution led to significant year-over-year operating margin expansion.”

Mr. Chopra concluded, “Although we were disappointed by the financial results in our Healthcare division, we remain dedicated to improving our competitive position. We are focused on enhancing our core products, developing new products, and growing the supplies and accessories business.”

GUIDANCE:

OSI Systems sees FY2019 EPS of $3.85-$4.05, versus the consensus of $3.88. OSI Systems sees FY2019 revenue of $1.14-1.175 billion, versus the consensus of $1.14 billion.

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