Electronics Production | January 26, 2012
OSI Systems posts solid Q2
OSI Systems announced financial results for the second quarter ended December 31, 2011.
The Company reported revenues of $188 million for the second quarter of fiscal 2012, an increase of 11% as compared to the same period a year ago. Net income for the second quarter of fiscal 2012 was $12.3 million compared to net income of $9.2 million for the second quarter of fiscal 2011. As of December 31, 2011, the Company's backlog was $377 million compared to $304 million as of June 30, 2011, an increase of 24%. Mexico deal "(P)erhaps our bigger news is the $400 million, six-year security agreement with the Servicio de Administracion Tributaria ("SAT"), Mexico's tax and customs authority, awarded shortly after the quarter ended. This turnkey screening services agreement will have a profound impact on our business and our ability to enhance shareholder value," said Deepak Chopra, OSI Systems' Chairman and CEO"-