UPDATE: OSI Systems (OSIS) Tops Q4 EPS by 12c, Revenues Miss; Offers FY21 EPS Guidance, FY21 Revenue Outlook Below Consensus
OSI Systems (NASDAQ: OSIS) reported Q4 EPS of $1.22, $0.12 better than the analyst estimate of $1.10. Revenue for the quarter came in at $277 million versus the consensus estimate of $285.13 million.
- Q4 Revenues of $277 Million
- Q4 Earnings Per Diluted Share
- GAAP EPS of $0.76
- Non-GAAP EPS of $1.22 (6% year-over-year increase)
- FY 2020 Operating Cash Flow of $129 Million (8% year-over-year increase)
- Company Provides Fiscal 2021 Revenue and Non-GAAP EPS Guidance
Deepak Chopra, OSI Systems’ Chairman and Chief Executive Officer, said “We were pleased to deliver solid fourth quarter earnings and overall financial performance as we closed out the fiscal year in the midst of the COVID-19 pandemic. We continue to prioritize the safety of our workforce as we navigate challenges arising from the COVID-19 pandemic. I am confident in our ability to execute our strategic goals during these uncertain times.”
Mr. Chopra stated, “We are pleased with the strong profits and adjusted operating margin expansion in the Security division despite lower than anticipated fourth quarter revenues due primarily to the impact of the pandemic on our aviation and cargo businesses. This is a testament to our proactive leadership and ability to adapt swiftly.”
Mr. Chopra further commented, “Our Optoelectronics and Manufacturing division ended the fiscal year with solid fourth quarter bookings and a record year-end backlog as we enter fiscal 2021. The team successfully managed operational challenges associated with COVID-19 to deliver a comparable year-over-year adjusted operating margin.”
Mr. Chopra continued, “The Healthcare division delivered a strong finish to the fiscal year with revenues increasing 15% in the fourth quarter and significant improvement in adjusted operating margin. We are very proud of the vital contributions our Healthcare team and critical care patient monitoring products are making to assist physicians and hospitals in their response to the global pandemic.”
GUIDANCE:
OSI Systems sees FY2021 EPS of $4.50-$5.05, versus the consensus of $4.65. OSI Systems sees FY2021 revenue of $1.09-1.14 billion, versus the consensus of $1.19 billion.
- For fiscal year 2021, the Company anticipates revenues in the range of $1.09 billion to $1.14 billion and non-GAAP earnings per diluted share in the range of $4.50 to $5.05. Actual revenues and non-GAAP diluted earnings per share could vary from this guidance due to factors discussed under “Forward-Looking Statements” and other factors, including uncertainties as to the duration and scope of the COVID-19 pandemic.
For earnings history and earnings-related data on OSI Systems (OSIS) click here.