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OSI Systems (OSIS) Q3 FY2024 earnings: revenue $405 million, up 33.8% on the year

OSI Systems Inc. (OSIS) reported revenue of $405 million for Q3 FY2024, the quarter ended 31 March 2024, up 33.8% on the same quarter a year earlier. Net income was $34 million, up 56.1% on the year, and diluted earnings per share $1.95. The figures are the company's own, from the 10-Q it filed with the SEC on 30 April 2024.

Revenue$405 millionup 33.8%
Net income$34 millionup 56.1%
Diluted EPS$1.95
QuarterQ3 FY2024ended 31 March 2024

The quarter, against the one before and a year earlier

LineQ3 FY2024Q2 FY2024A year earlierChange on the year
Revenue405373n/an/a
Cost of revenue269232n/an/a
Gross profit136141n/an/a
Gross margin33.6%37.9%n/a
Research and development17.116.4n/an/a
Selling, general and administrative66.671.6n/an/a
Operating income51.452.3n/an/a
Operating margin12.7%14.0%n/a
Interest expense7.46.5n/an/a
Pre-tax income44.045.8n/an/a
Income tax9.99.2n/an/a
Effective tax rate22.6%20.2%n/a
Net income34.036.6n/an/a
Net margin8.4%9.8%n/a
Diluted EPS$1.95$2.11n/an/a
$ million except per share.
Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ3 FY2024Q2 FY2024A year earlierChange on the year
Operating cash flow-52.1-23.5n/an/a
Capital expenditure4.93.5n/an/a
Free cash flow-57.0-27.0n/an/a
Free cash flow margin-14.1%-7.2%n/a
Cash from investing-3.1-12.2n/an/a
Cash from financing33.778.9n/an/a
Depreciation and amortisation10.610.3n/an/a
Share-based compensation7.17.3n/an/a
Diluted shares, weighted17m17mn/an/a
Shares outstanding at period end17m17mn/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ3 FY2024Q2 FY2024A year earlierChange on the year
Shareholders' equity813770n/an/a
Debt488457n/an/a
Operating lease liabilities20.122.5n/an/a
Other liabilities509477n/an/a
Total liabilities and equity1,8311,726n/an/a
Fixed assets110110n/an/a
Goodwill352353n/an/a
Intangible assets142143n/an/a
Cash and equivalents101127n/an/a
Receivables504370n/an/a
Inventory443446n/an/a
Other assets178177n/an/a
Total assets1,8311,726n/an/a

Questions

What was OSI Systems' revenue in Q3 FY2024?

OSI Systems (OSIS) reported revenue of $405 million for Q3 FY2024, the quarter ended 31 March 2024, up 33.8% on the same quarter a year earlier.

How much did OSI Systems earn in Q3 FY2024?

Net income for Q3 FY2024 was $34 million, up 56.1% on the year, and diluted earnings per share $1.95.

When did OSI Systems report Q3 FY2024 results?

OSI Systems filed its 10-Q for the quarter ended 31 March 2024 with the SEC on 30 April 2024.

Quarterly results, the last 12 quarters

Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025Q1 FY2026Q2 FY2026Q3 FY2026Q4 FY2026
Revenue279373405481344420444505385464453484
Cost of revenue180232269327223273294337261312303316
Gross profit98.7141136154122147150168123152150168
Gross margin35%38%34%32%35%35%34%33%32%33%33%35%
R&D15.916.417.115.917.818.318.618.820.419.819.519.5
SG&A59.871.666.671.772.270.773.274.767.070.271.569.7
Operating income22.652.351.462.830.358.056.273.033.158.853.273.9
Operating margin8%14%13%13%9%14%13%14%9%13%12%15%
Interest expense5.76.57.48.27.48.68.27.27.410.74.04.1
Pre-tax income16.845.844.054.723.049.348.065.825.748.149.269.8
Tax rate23%20%23%18%22%23%14%20%20%20%18%21%
Net income12.936.634.044.717.937.841.152.720.638.740.255.2
Net margin5%10%8%9%5%9%9%10%5%8%9%11%
Diluted EPS$0.75$2.11$1.95$2.55$1.05$2.22$2.40$3.03$1.18$2.22$2.33$3.27
Operating cash flow17.1-23.5-52.1-29.0-37.252.581.60.617.162.214.5182
Capital expenditure5.23.54.98.57.75.54.56.17.06.77.69.3
Free cash flow11.9-27.0-57.0-37.5-44.947.177.1-5.610.155.56.9173
Buybacksn/an/an/an/a80.40.00.00.0n/an/a0.0n/a
Shares outstanding17m17m17m17m17m17m17m17m17m16m16m16m
Filing10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K
Each quarter as filed, linked to its filing.
Read moreMoney is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 31 March 2024, filed 30 April 2024, accession 0001410578-24-000570: the filing on EDGAR. All of OSI Systems Inc.'s filings: EDGAR company page.

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