OSI Systems Q3 Results Top Estimates; Boosts FY24 Adj. EPS Growth Outlook

OSI Systems, Inc. (OSIS) announced Thursday that its Security division received an order for approximately $10 million to provide multiple units of its RTT 110 (Real Time Tomography) explosive detection system to screen passengers' hold (checked) baggage at an international airport in Latin America.

OSI Systems, Inc. (OSIS) announced Thursday that its Security division was awarded a contract from an international airport for approximately $42 million to provide a range of checkpoint and hold baggage screening solutions.

OSI Systems, Inc. (OSIS) reported on Thursday that net income for the first quarter grew to $12.88 million or $0.75 per share from $11.24 million or $0.65 per share in the prior-year quarter.

While reporting financial results for the fourth quarter on Thursday, OSI Systems, Inc. (OSIS) initiated its adjusted earnings and revenue growth guidance for the full-year 2024.

OSI Systems, Inc. (OSIS) reported on Thursday that net income for the third quarter doubled to $42.74 million or $2.41 per share from $21.81 million or $1.27 per share in the prior-year quarter. Excluding items, adjusted earnings were $1.43 per share, compared to $1.49 per share in the year-ago quarter.

While reporting financial results for the first quarter on Thursday, OSI Systems, Inc. (OSIS) reiterated its adjusted earnings and revenue guidance for the full-year 2023.

The Singapore stock market has tracked lower in back-to-back sessions, sinking almost 20 points or 0.5 percent along the way. The Straits Time Index now sits just beneath the 3,900-point plateau and the losses may accelerate on Tuesday. The global forecast for the Asian markets is broadly negative on recession fears and concerns over the health of the world economy. The European and U.S. markets finished sharply lower and the Asian bourses are expected to open under pressure as well. The STI finished modestly lower on Monday following losses among the financial shares, property stocks and industrial issues. For the day, the index fell 15.41 points or 0.39 percent to finish at the daily low of 3,899.07 after peaking at 3,922.66. Among the actives, CapitaLand Investment sank 0.77 percent, while City Developments declined 1.19 percent, Comfort DelGro shed 0.68 percent, DBS Group eased 0.28 percent, Frasers Logistics & Commercial Trust spiked 1.79 percent, Genting Singapore rallied 1.41 percent, Hongkong Land stumbled 1.79 percent, Keppel DC REIT added 0.49 percent, Keppel Ltd slid 0.44 percent, Mapletree Industrial Trust advanced 1.00 percent, Mapletree Logistics Trust skidded 0.80 percent, Oversea-Chinese Banking Corporation lost 0.64 percent, Seatrium Limited jumped 1.43 percent, SembCorp Industries retreated 1.27 percent, Singapore Technologies Engineering slumped 1.14 percent, SingTel tumbled 1.75 percent, UOL Group climbed 1.38 percent, Venture Corporation rose 0.24 percent, Wilmar International fell 0.61 percent, Yangzijiang Financial dropped 0.78 percent, Yangzijiang Shipbuilding dipped 0.42 percent and Thai Beverage, Mapletree Pan Asia Commercial Trust, DFI Retail, Frasers Centrepoint Trust, CapitaLand Integrated Commercial Trust, Emperador and SATS were unchanged.

The Malaysia stock market has tracked lower in three straight sessions, slumping almost 30 points or 2 percent in that span. The Kuala Lumpur Composite Index now sits just above the 1,535-point plateau and it may take further damage again on Tuesday. The global forecast for the Asian markets is broadly negative on recession fears and concerns over the health of the world economy. The European and U.S. markets finished sharply lower and the Asian bourses are expected to open under pressure as well.