© stevanovicigor dreamstime.com Electronics Production | May 13, 2015
OSI Systems record Q3 revenue of $215 million
OSI Systems reported revenues of USD 215.4 million for the third quarter of fiscal 2015, an increase of 6% as compared to the same period a year ago.
"We are pleased to announce our third quarter financial results," said Deepak Chopra, OSI Systems' Chairman and CEO. "We achieved record third quarter sales and profitability, excluding the impact of restructuring and other charges. While we are encouraged by our performance this year, we expect to continue to make appropriate business adjustments as the global macroeconomic environment evolves." The Company reported revenues of USD 215.4 million for the third quarter of fiscal 2015, an increase of 6% as compared to the same period a year ago. Net income for the third quarter of fiscal 2015 was USD 13.2 million, compared to net income of USD 4.8 million for the third quarter of fiscal 2014. On a non-GAAP basis, excluding the impact of restructuring and other charges, net income for the third quarter of fiscal 2015 would have been USD 15.9 million, compared to net income of USD 14.3 million, for the comparable quarter of the prior year. As of March 31, 2015, the Company's backlog was approximately USD 0.6 billion and the non-turnkey book to bill ratio for the three months ended March 31, 2015 was 1.0. During the third quarter, the Company generated USD 23.1 million of free cash flow, which contributed to record free cash flow of USD 77.6 million for the nine months ended March 31, 2015. Mr. Chopra continued, "During the third quarter, our Security division's revenues rose modestly by 4% over the prior year third quarter. We are pleased with the market's reception of our new RTT 110 (Real Time Tomography) explosives detection systems (EDS). We have received several orders for this product, including a very strategic win in Europe, the recently-announced USD 27 million order from the Leonardo da Vinci - Fiumicino Airport in Rome. We believe that the potential of RTT as European airports meet the latest requirement for hold baggage screening, as well as a robust pipeline of opportunities in both our product and turnkey screening solutions businesses position this division well for the future."
IHS Markit: 5G economy in the trillions by 2035 The IHS Markit 5G Economy Study, commissioned by Qualcomm Technologies Inc., is forecasting that 5G will generate USD 13.2 trillion in sales enablement by 2035.
ZEUS Battery partnering with Kruvand Associates ZEUS Battery Products and Texas-based Kruvand Associates Inc. have come to a formal agreement on a collaboration that began in January and covers Texas, Arkansas, Oklahoma, Louisiana, New Mexico, Arizona and Mexico.
EPP with a new owner The company announces that is has found itself an ideal buyer – Photonics Systems Group – a manufacturer of micro-materials processing machines. With this takeover, PSG is strengthening is operations in the electronics industry and also laying the foundation for further growth.
Volkswagen starts pre-production e-mobility plant in China The new plant of the SAIC VOLKSWAGEN joint venture has been completed. It is purely built for the production of all electric vehicles on Volkswagen’s Modular Electric Drive Matrix (MEB).
Sponsored content by NCAB Group Benelux B.V.Failure is not an option for a PCB More than 30% of the Gerbers NCAB Group Benelux B.V. reviews, have problems. However, the PCB are integrated in key end-user product with more and more High Tech PCB. We are here to support you on the new technologies growth to maintain a high reliability and quality. Contact us to review it together.
Kongsberg Maritime divests KM Contros GmbH Following a strategic review, Kongsberg Maritime AS (KM) has decided to divest KM Contros GmbH (Contros) to AML Oceanographic Ltd. (AML).
SUSS MicroTec adjusts outlook for fiscal year 2019 Based on the preliminary figures for the first nine months and the updated budget figures, SUSS MicroTec is substantiating its expectations for incoming orders, sales and earnings for the current fiscal year ending December 31, 2019.
GPV's revenues soars 130% Danish EMS provider, GPV Group, announces that the company generated revenues of DKK 2.2 billion in the first nine months of 2019, a 130% year-on-year improvement driven by the acquisition of Swiss company CCS at the end of 2018.
Sponsored content by SourcengineComponent Aggregators vs E-Commerce Marketplaces What is the difference between electronic component aggregators and a marketplace?
67% of a buyer’s journey is now done digitally. Learn how marketplaces emerged as full-cycle procurement platforms and challenged the traditional component aggregators.
Former GM plant now Lordstown Motors Corp. General Motors’ shuttered Lordstown plant in Ohio, which closed in March, is now in the hands of an electric truck start-up that is looking to begin production in about a year.
Chinese chip maker to U.S. firms: don’t worry On Friday, the chairman of China’s top state-run semiconductor company, Tsinghua Unigroup, had some advice for U.S. chipmakers, saying they should “relax and sleep well,” with regard to China’s semiconductor development.
POET closes the sale of DenseLight POET Technologies, the designer and developer of the POET Optical Interposer and Photonic Integrated Circuits (PICs) for the data center and tele-communication markets, has successfully closed the sale of its DenseLight subsidiary in Singapore.
HAHN Group expands its footprint in the US via acquisition Factory automation and robotics solution provider, Hahn Group, has acquired REI Automation, Inc. The takeover is effective as of 01. November 2019.
Sponsored content by Nordson ASYMTEKStart-to-finish conformal coating with reliability and efficiency Nordson ASYMTEK’s flexible, modular, Panorama™ S-Line delivers conformal coating process control in a space-saving footprint with overlapping line processes that minimize manufacturing floor space. This innovative, patent-pending line layout trims 50% of the line’s length by using the lower compartment in each piece of equipment for functional use. Combined with Nordson ASYMTEK’s global support, this complete conformal coating line delivers quality, product reliability, efficiency, and safety for all your conformal coating applications.
Ynvisible Interactive sells contract manufacturing services to Epishine Epishine is purchasing roll-to-roll manufacturing services from Ynvisible Production, combines solar cells with printed electronic displays.
QEV Technologies gets € 17 million from EIB The E-mobility and R&D specialist, QEV Technologies, will receive EUR 17 million funding from the European Investment Bank (EIB) for a variety of low carbon transportation projects.
Mouser pushing distribution to new (vertical) levels Mouser Electronics, global NPI distributor of semiconductors and electronic components, has expanded its multi-dimensional footprint at its distribution headquarters in Texas.
Micron buys FWDNXT, launches AI platform With its recent acquisition of hardware and software start-up FWDNXT, Micron Technology Inc. has launched a new set of tools for deep learning.
Sponsored content by EsemdaContract manufacturer Esemda opens new facility in Vilnius and expands EMS The new facility has been built with reserved space for future expansions. As Esemda constantly grows, it is of great importance to be able to rapidly increase production capacity in large volumes.
Isola names new president and CEO Isola has appointed Travis Kelly president and chief executive officer. Kelly most recently served as global chief operating officer at Cerberus Operations and Advisory Company (affiliate of Cerberus Capital Management).
CORE-emt to represent BTU in the Baltics BTU International, Inc., a supplier of advanced thermal processing equipment for the electronics manufacturing market, announces that it has expanded its partnership with CORE-emt to include the Baltics (Estonia, Lithuania, Latvia).
Kimball reports growth across the board for 1Q20 While the calendar year for 2019 isn’t over yet, Kimball Electronics has already completed its first fiscal quarter for 2020.
AT&S weathers market challenges In an overall challenging environment AT&S held its ground well in the first half-year. Revenues amounted to EUR 490.3 million, declined slightly by 5.1% compared to the previous year.
Covalent Metrology, Rigaku extend partnership with new line Rigaku, a producer of X-ray metrology technology, has installed two of its analytical instruments at the Sunnyvale, California service lab of Covalent Metrology, a provider of analytical services to advanced materials innovation companies.
PG LifeLink expanding in Kentucky Post Glover LifeLink Inc., a manufacturer of isolated power products, announced plans to expand its operation in Boone County with a USD 3.9 million investment.
HELLA expands its activities in Lithuania HELLA Lithuania has been operating in the country for about a year and a half now. Now it's time to kickstart production of the next product group in the Lithuanian facility.
NCAB’s CEO to retire in 2020 Hans Ståhl, the CEO of Swedish PCB supplier NCAB, is planning to retire from the position as CEO in 2020.Load more news