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© jakub krechowicz dreamstime.com Electronics Production | September 10, 2015

Record sales and earnings for OSI Systems

OSI Systems reported revenues of USD 267 million for the fourth quarter of fiscal 2015, an increase of 2% from the USD 260 million reported for the fourth quarter of fiscal 2014.
Deepak Chopra, OSI Systems' President and CEO, stated, "We are pleased to report our fourth quarter and full year operating results. We achieved record sales and earnings during the quarter and fiscal 2015. With a robust pipeline of opportunities across each of our divisions coupled with significant, recently implemented operational improvement initiatives, we are optimistic for the future."

Net income for the fourth quarter of fiscal 2015 was USD 22.4 million, compared to net income of USD 22.1 million for the fourth quarter of fiscal 2014.

For the fiscal year ended June 30, 2015, the Company reported revenues of USD 958 million, a 6% increase from the USD 907 million reported for fiscal 2014. Net income for fiscal 2015 was USD 65.2 million, compared to net income of USD 47.9 million in fiscal 2014.

During the quarter, the Company's book-to-bill ratio for equipment and related services (non-turnkey) was 1.2 and, as of June 30, 2015, the Company's backlog was USD 638 million. During fiscal 2015, OSI System generated cash flow from operations of USD 105.1 million.

Mr. Chopra further commented, "Sales in our Healthcare Division increased by 29% over the prior year fourth quarter driven by significant growth in our U.S. patient monitoring business and the impact of an acquisition completed in the first quarter. New products have been well received, contributing to a very strong quarter providing nice momentum as we head into fiscal 2016."

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