Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
On May 4, 2026, we issued
a press release announcing our financial results for the quarter ended March 31, 2026. A copy of the press release is attached hereto
as Exhibit 99.1 and incorporated herein by this reference.
We are furnishing the information
contained in this Item 2.02 (including Exhibit 99.1). It shall not be deemed to be “filed” for any purpose, including
for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that
section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Securities
Exchange Act of 1934, as amended, regardless of any general incorporation language in such filing.
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Exhibit 99.1
OSI SYSTEMS REPORTS FISCAL 2026 THIRD QUARTER
FINANCIAL RESULTS
| · |
Record Q3 Revenues of $453 Million |
| · |
Q3 Earnings per Diluted Share |
| |
o | GAAP EPS of $2.33 |
| |
o | Record Non-GAAP EPS of $2.60 |
| · |
Record Q3 Backlog of $1.9 Billion |
| · |
Q3 Book-to-Bill Ratio of 1.3x |
| · |
Company Reiterates its Fiscal 2026 Guidance |
HAWTHORNE, Calif. — (BUSINESS WIRE) —
May 4, 2026—OSI Systems, Inc. (the “Company” or “OSI Systems”) (NASDAQ: OSIS) today announced
its financial results for the third quarter of fiscal 2026.
Ajay Mehra, OSI Systems’ President and Chief
Executive Officer, stated, “Our third quarter results demonstrate the strength and durability of our diversified portfolio highlighted
by record Q3 non-GAAP earnings per share and strong bookings, reflecting sound execution in our Security and Optoelectronics and Manufacturing
divisions. Our substantial backlog and a robust pipeline position us well as we capitalize on market opportunities and advance key strategic
initiatives.”
Financial Summary
| | |
Three Months Ended March 31, | | |
Nine Months Ended March 31, | |
| (Dollars in thousands, except per-share amounts) | |
2025 | | |
2026 | | |
% Growth | | |
2025 | | |
2026 | | |
% Growth | |
| Revenues | |
$ | 444,354 | | |
$ | 453,246 | | |
| 2 | % | |
$ | 1,208,181 | | |
| 1,301,926 | | |
| 8 | % |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Diluted earnings per share - GAAP | |
$ | 2.40 | | |
$ | 2.33 | | |
| -3 | % | |
$ | 5.67 | | |
$ | 5.71 | | |
| 1 | % |
| Diluted earnings per share - non-GAAP | |
$ | 2.44 | | |
$ | 2.60 | | |
| 7 | % | |
$ | 6.11 | | |
$ | 6.60 | | |
| 8 | % |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Cash flow provided by operating activities | |
$ | 81,642 | | |
$ | 14,457 | | |
| | | |
$ | 97,030 | | |
$ | 93,794 | | |
| | |
| Capital expenditures | |
$ | 4,518 | | |
$ | 7,559 | | |
| | | |
$ | 17,713 | | |
$ | 21,272 | | |
| | |
The Company’s backlog was approximately
$1.9 billion as of March 31, 2026, compared to approximately $1.8 billion as of December 31, 2025 reflecting continued strong
bookings momentum across the Security and Optoelectronics and Manufacturing divisions.
Mr. Mehra added, “The Security division
delivered another solid quarter supported by disciplined execution, strong bookings and operating margin expansion despite a challenging
year-over-year comparison due to significant Mexico revenues in the third quarter of fiscal year 2025. Excluding these Mexico contracts,
the Security division’s revenues increased by 25% year-over-year across the broader portfolio. In addition, we are pleased with
recent notable awards and look forward to capturing other significant global opportunities.”
Mr. Mehra continued, “The Optoelectronics
and Manufacturing division also produced solid third quarter results, with 10% revenue growth and a strong book-to-bill ratio. These results
continue to reinforce the advantages of our vertically integrated global operating model, which provides efficiency and flexibility to
serve our diverse OEM customer base across aerospace, defense, healthcare and consumer technologies.”
Fiscal Year 2026 Outlook
The Company is reiterating its fiscal 2026 revenue
guidance range of $1.825 billion to $1.867 billion and its non-GAAP diluted earnings per share guidance range of $10.30 to $10.55. Actual
revenues and non-GAAP diluted earnings per share could vary from this guidance due to factors discussed under “Forward-Looking Statements”
or other factors, including the impact on near-term bookings and revenues of the recent shutdown
of the Department of Homeland Security and current conflicts in the Middle East.
The Company’s fiscal 2026 diluted earnings
per share guidance is provided on a non-GAAP basis only. The Company does not provide a reconciliation of guidance for non-GAAP diluted
EPS to GAAP diluted EPS (the most directly comparable GAAP measure) on a forward-looking basis because the Company is unable to provide
a meaningful or accurate compilation of reconciling items and certain information is not available. This is due to the inherent difficulty
and complexity in accurately forecasting the timing and amounts of various items included in the calculation of GAAP diluted EPS but excluded
in the calculation of non-GAAP diluted EPS, such as acquisition costs and other non-recurring items that have not yet occurred, are out
of the Company’s control or cannot otherwise reasonably be predicted. For the same reasons, the Company is unable to address the
significance of unavailable information which may be material and therefore could result in GAAP diluted EPS being materially different
from projected non-GAAP diluted EPS.
Conference Call Information
The Company will host a conference call and simultaneous
webcast beginning at 1:30 pm PT (4:30 pm ET) today to discuss its financial results for the 2026 third fiscal quarter. To listen, please
visit the Investor Relations section of the OSI Systems website at http://investors.osi-systems.com/index.cfm and follow the link
that will be posted on the front page. A replay of the webcast will be available beginning shortly after the conclusion of the conference
call for approximately three months thereafter. The replay can be accessed through the Company’s website at www.osi-systems.com.
About OSI Systems
OSI Systems designs and manufactures specialized
electronic systems and components for critical applications. The Company operates through three business segments: Security, Optoelectronics
and Manufacturing, and Healthcare. Its Security division delivers advanced inspection systems, turnkey screening solutions, and comprehensive
support services to protect people and infrastructure. The Optoelectronics and Manufacturing segment serves as a global supplier of high-performance
optoelectronic solutions and precision manufacturing services for leading OEMs. The Healthcare segment focuses on patient monitoring,
diagnostic cardiology, and related services with the goal of enhancing clinical care and patient outcomes. Serving customers in over
170 countries, OSI Systems strategically positions its sales, service, R&D, and manufacturing capabilities worldwide to
provide fast and efficient delivery and support. For more information on OSI Systems or any of its subsidiary companies, visit www.osi-systems.com.
News Filter: OSIS-E
Presentation of Non-GAAP Financial Measures
This earnings release includes a presentation
of non-GAAP net income, non-GAAP diluted earnings per share, non-GAAP operating income (loss) by segment and non-GAAP operating margin,
all of which are non-GAAP financial measures. The presentation of these non-GAAP figures is provided to allow for the comparison of the
underlying performance of the Company, excluding the impact of impairment, restructuring and other charges (including certain legal costs),
amortization of intangible assets acquired through business acquisitions, and associated tax effects, and discrete income tax items. Although
we exclude amortization of acquired intangible assets from our non-GAAP figures, revenue generated from such intangibles is included in
determining non-GAAP financial performance of the Company. Management believes that the non-GAAP financial measures presented in this
earnings release provide (i) enhanced insight into the ongoing operations of the Company, (ii) meaningful information regarding
the Company’s financial results (excluding amounts management does not view as reflective of ongoing operating results) for purposes
of planning, forecasting and assessing the performance of the Company’s businesses, (iii) a meaningful comparison of financial
results of the current period against results of past periods and (iv) financial results that are generally more comparable to financial
results of peer companies than are GAAP figures. Non-GAAP financial measures should not be assessed in isolation or as a substitute for
measures of financial performance prepared in accordance with GAAP. Our non-GAAP financial measures may not be the same as measures used
by other companies due to possible differences in methods and in the items or events for which adjustments are made.
Reconciliations of GAAP financial information
to non-GAAP financial information are provided in the accompanying tables. The financial results calculated in accordance with GAAP and
reconciliations from those financial results should be carefully evaluated.
Forward-Looking Statements
This
press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements
relate to the Company's current expectations, beliefs, and projections concerning matters that are not historical facts. Forward-looking
statements are not guarantees of future performance and involve uncertainties, risks, assumptions, and contingencies, many of which are
outside the Company's control and which may cause actual results to differ materially from those described in or implied by any forward-looking
statement. Forward-looking statements include, but are not limited to, information provided regarding expected revenues, earnings, growth,
cash flow generation, and operational performance in fiscal 2026 and beyond. The Company could be exposed to a variety of negative consequences
as a result of delays related to the award of domestic and international contracts; failure to secure the renewal of key customer contracts;
delays in customer programs; government shutdowns; delays in revenue recognition related to the timing of customer acceptance; the impact
of potential information technology, cybersecurity or data security breaches; changes in domestic and foreign government spending and
budgetary, procurement and trade policies adverse to the Company's businesses; the impact of the Russia-Ukraine conflict and conflicts
in the Middle East, including the potential for broad economic disruption and increased global tensions; global economic uncertainty,
including the impact of tariffs; material delays and cancellations of orders or deliveries thereon, supply chain and transportation networks
disruptions, plant closures, or other adverse impacts on the Company’s ability to execute business plans; unfavorable currency exchange
rate fluctuations; unfavorable interest rate fluctuations; effect of changes in tax legislation; market acceptance of the Company's new
and existing technologies, products, and services; the Company's ability to win new business and convert orders received to sales within
the current fiscal year; contract and regulatory compliance matters, and actions which, if brought, could result in judgments, settlements,
fines, injunctions, debarment, or penalties; and other risks and uncertainties, including, but not limited to, those detailed herein and
from time to time in the Company's Securities and Exchange Commission filings, which could have a material and adverse impact on the Company's
business, financial condition, and results of operations. For additional information on these and other factors that could cause the Company's
future results to differ materially from those in any forward-looking statements, see the section titled "Risk Factors" in the
Company's most recently filed Annual Report on Form 10-K and other risks described therein and in documents subsequently filed by
the Company from time to time with the Securities and Exchange Commission. Undue reliance should not be placed on forward-looking statements,
which are based on currently available information and speak only as of the date on which they are made. The Company assumes no obligation
to update any forward-looking statement made in this press release that becomes untrue because of subsequent events, new information,
or otherwise, except to the extent required to do so under federal securities laws.
For Additional Information, Contact:
OSI Systems, Inc.
Ajay Vashishat
Vice President
Telephone: (310) 349-2237
avashishat@osi-systems.com
OSI SYSTEMS, INC. AND SUBSIDIARIES
UNAUDITED
CONDENSED Consolidated Statements of Operations
(in thousands, except per share data)
| | |
Three Months Ended
March 31, | | |
Nine Months Ended
March 31, | |
| | |
2025 | | |
2026 | | |
2025 | | |
2026 | |
| Revenues: | |
| | | |
| | | |
| | | |
| | |
| Products | |
$ | 341,179 | | |
$ | 344,921 | | |
$ | 930,658 | | |
$ | 971,493 | |
| Services | |
| 103,175 | | |
| 108,325 | | |
| 277,523 | | |
| 330,433 | |
| Total net revenues | |
| 444,354 | | |
| 453,246 | | |
| 1,208,181 | | |
| 1,301,926 | |
| Cost of goods sold: | |
| | | |
| | | |
| | | |
| | |
| Products | |
| 236,667 | | |
| 242,574 | | |
| 631,176 | | |
| 693,641 | |
| Services | |
| 57,396 | | |
| 60,348 | | |
| 158,061 | | |
| 183,147 | |
| Total cost of goods sold | |
| 294,063 | | |
| 302,922 | | |
| 789,237 | | |
| 876,788 | |
| Gross profit | |
| 150,291 | | |
| 150,324 | | |
| 418,944 | | |
| 425,138 | |
| Operating expenses: | |
| | | |
| | | |
| | | |
| | |
| Selling, general and administrative | |
| 73,249 | | |
| 71,487 | | |
| 216,194 | | |
| 208,643 | |
| Research and development | |
| 18,570 | | |
| 19,455 | | |
| 54,600 | | |
| 59,641 | |
| Impairment, restructuring and other charges, net | |
| 2,255 | | |
| 6,168 | | |
| 3,648 | | |
| 11,772 | |
| Total operating expenses | |
| 94,074 | | |
| 97,110 | | |
| 274,442 | | |
| 280,056 | |
| Income from operations | |
| 56,217 | | |
| 53,214 | | |
| 144,502 | | |
| 145,082 | |
| Interest and other expense, net | |
| (8,228 | ) | |
| (3,995 | ) | |
| (24,206 | ) | |
| (22,106 | ) |
| Income before income taxes | |
| 47,989 | | |
| 49,219 | | |
| 120,296 | | |
| 122,976 | |
| Provision for income taxes | |
| (6,855 | ) | |
| (9,003 | ) | |
| (23,407 | ) | |
| (23,505 | ) |
| Net income | |
$ | 41,134 | | |
$ | 40,216 | | |
$ | 96,889 | | |
$ | 99,471 | |
| | |
| | | |
| | | |
| | | |
| | |
| Diluted earnings per share | |
$ | 2.40 | | |
$ | 2.33 | | |
$ | 5.67 | | |
$ | 5.71 | |
| Weighted average shares outstanding – diluted | |
| 17,159 | | |
| 17,291 | | |
| 17,089 | | |
| 17,414 | |
OSI SYSTEMS, INC. AND SUBSIDIARIES
UNAUDITED
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
| | |
June 30, 2025 | | |
March 31, 2026 | |
| Assets | |
| | | |
| | |
| Cash and cash equivalents | |
$ | 106,405 | | |
$ | 345,236 | |
| Accounts receivable, net | |
| 837,743 | | |
| 870,450 | |
| Inventories | |
| 407,174 | | |
| 435,290 | |
| Prepaid expenses and other current assets | |
| 71,539 | | |
| 66,357 | |
| Total current assets | |
| 1,422,861 | | |
| 1,717,333 | |
| Property and equipment, net | |
| 126,747 | | |
| 125,765 | |
| Goodwill | |
| 387,393 | | |
| 385,075 | |
| Intangible assets, net | |
| 183,290 | | |
| 183,317 | |
| Other non-current assets | |
| 120,966 | | |
| 142,941 | |
| Total Assets | |
$ | 2,241,257 | | |
$ | 2,554,431 | |
| | |
| | | |
| | |
| Liabilities and Stockholders' Equity | |
| | | |
| | |
| | |
| | | |
| | |
| Bank lines of credit | |
$ | 178,000 | | |
$ | - | |
| Current portion of long-term debt | |
| 8,130 | | |
| 3,791 | |
| Accounts payable | |
| 205,181 | | |
| 200,882 | |
| Accrued payroll and related expenses | |
| 49,535 | | |
| 51,003 | |
| Advances from customers | |
| 68,184 | | |
| 59,998 | |
| Deferred revenue | |
| 77,788 | | |
| 89,358 | |
| Other current liabilities | |
| 110,120 | | |
| 124,139 | |
| Total current liabilities | |
| 696,938 | | |
| 529,171 | |
| Long-term debt | |
| 463,504 | | |
| 998,748 | |
| Other long-term liabilities | |
| 129,731 | | |
| 132,197 | |
| Total liabilities | |
| 1,290,173 | | |
| 1,660,116 | |
| Total stockholders’ equity | |
| 951,084 | | |
| 894,315 | |
| Total Liabilities and Stockholders’ Equity | |
$ | 2,241,257 | | |
$ | 2,554,431 | |
NON-GAAP
FINANCIAL MEASURES AND SEGMENT INFORMATION
| | |
Three
Months Ended March 31, | |
| | |
2025 | | |
2026 | |
| (Dollars in thousands, except per-share amounts) | |
| | |
Operating | | |
% of | | |
Net | | |
Diluted | | |
| | |
Operating | | |
% of | | |
Net | | |
Diluted | |
| | |
Revenues | | |
Income | | |
Revenues | | |
Income | | |
EPS | | |
Revenues | | |
Income | | |
Revenues | | |
Income | | |
EPS | |
| OSI Consolidated | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| GAAP
basis | |
$ | 444,354 | | |
$ | 56,217 | | |
| 12.7 | % | |
$ | 41,134 | | |
$ | 2.40 | | |
$ | 453,246 | | |
$ | 53,214 | | |
| 11.7 | % | |
$ | 40,216 | | |
$ | 2.33 | |
| Impairment, restructuring and
other charges, net | |
| | | |
| 2,255 | | |
| 0.5 | % | |
| 2,255 | | |
| 0.13 | | |
| | | |
| 6,168 | | |
| 1.4 | % | |
| 6,168 | | |
| 0.35 | |
| Amortization of acquired intangible
assets | |
| | | |
| 4,661 | | |
| 1.0 | % | |
| 4,661 | | |
| 0.27 | | |
| | | |
| 3,505 | | |
| 0.8 | % | |
| 3,505 | | |
| 0.20 | |
| Tax effect of non-GAAP adjustments | |
| | | |
| | | |
| | | |
| (1,643 | ) | |
| (0.10 | ) | |
| | | |
| | | |
| | | |
| (2,292 | ) | |
| (0.13 | ) |
| Discrete
tax benefit | |
| | | |
| | | |
| | | |
| (4,542 | ) | |
| (0.26 | ) | |
| | | |
| | | |
| | | |
| (2,638 | ) | |
| (0.15 | ) |
| Non-GAAP
basis | |
| | | |
$ | 63,133 | | |
| 14.2 | % | |
$ | 41,865 | | |
$ | 2.44 | | |
| | | |
$ | 62,887 | | |
| 13.9 | % | |
$ | 44,959 | | |
$ | 2.60 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| | |
| | | |
| Operating | | |
| %
of | | |
| | | |
| | | |
| | | |
| Operating | | |
| %
of | | |
| | | |
| | |
| | |
| Revenues | | |
| Income | | |
| Revenues | | |
| | | |
| | | |
| Revenues | | |
| Income | | |
| Revenues | | |
| | | |
| | |
| Revenue and Operating Income
by Segment | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Security | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| GAAP basis | |
$ | 314,908 | | |
$ | 51,505 | | |
| 16.4 | % | |
| | | |
| | | |
$ | 319,263 | | |
$ | 53,971 | | |
| 16.9 | % | |
| | | |
| | |
| Impairment, restructuring and
other charges, net | |
| | | |
| 1,403 | | |
| 0.4 | % | |
| | | |
| | | |
| | | |
| 1,433 | | |
| 0.4 | % | |
| | | |
| | |
| Amortization
of acquired intangible assets | |
| | | |
| 4,000 | | |
| 1.3 | % | |
| | | |
| | | |
| | | |
| 2,883 | | |
| 1.0 | % | |
| | | |
| | |
| Non-GAAP
basis | |
| | | |
| 56,908 | | |
| 18.1 | % | |
| | | |
| | | |
| | | |
| 58,287 | | |
| 18.3 | % | |
| | | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Optoelectronics
& Manufacturing | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| GAAP basis | |
| 100,860 | | |
| 13,650 | | |
| 13.5 | % | |
| | | |
| | | |
| 110,998 | | |
| 14,613 | | |
| 13.2 | % | |
| | | |
| | |
| Impairment, restructuring and
other charges, net | |
| | | |
| 72 | | |
| 0.1 | % | |
| | | |
| | | |
| | | |
| - | | |
| 0.0 | % | |
| | | |
| | |
| Amortization
of acquired intangible assets | |
| | | |
| 365 | | |
| 0.4 | % | |
| | | |
| | | |
| | | |
| 351 | | |
| 0.3 | % | |
| | | |
| | |
| Non-GAAP
basis | |
| | | |
| 14,087 | | |
| 14.0 | % | |
| | | |
| | | |
| | | |
| 14,964 | | |
| 13.5 | % | |
| | | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Healthcare | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| GAAP basis | |
| 43,722 | | |
| 1,308 | | |
| 3.0 | % | |
| | | |
| | | |
| 40,701 | | |
| (2,366 | ) | |
| -5.8 | % | |
| | | |
| | |
| Impairment, restructuring and
other charges, net | |
| | | |
| 627 | | |
| 1.4 | % | |
| | | |
| | | |
| | | |
| 2,636 | | |
| 6.5 | % | |
| | | |
| | |
| Amortization
of acquired intangible assets | |
| | | |
| 296 | | |
| 0.7 | % | |
| | | |
| | | |
| | | |
| 271 | | |
| 0.6 | % | |
| | | |
| | |
| Non-GAAP
basis | |
| | | |
| 2,231 | | |
| 5.1 | % | |
| | | |
| | | |
| | | |
| 541 | | |
| 1.3 | % | |
| | | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Corporate/Elimination | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| GAAP basis | |
| (15,136 | ) | |
| (10,246 | ) | |
| | | |
| | | |
| | | |
| (17,716 | ) | |
| (13,004 | ) | |
| | | |
| | | |
| | |
| Impairment,
restructuring and other charges, net | |
| | | |
| 153 | | |
| | | |
| | | |
| | | |
| | | |
| 2,099 | | |
| | | |
| | | |
| | |
| Non-GAAP
basis | |
| | | |
| (10,093 | ) | |
| | | |
| | | |
| | | |
| | | |
| (10,905 | ) | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| OSI
Consolidated | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| GAAP basis | |
$ | 444,354 | | |
| 56,217 | | |
| 12.7 | % | |
| | | |
| | | |
$ | 453,246 | | |
| 53,214 | | |
| 11.7 | % | |
| | | |
| | |
| Impairment, restructuring and
other charges, net | |
| | | |
| 2,255 | | |
| 0.5 | % | |
| | | |
| | | |
| | | |
| 6,168 | | |
| 1.4 | % | |
| | | |
| | |
| Amortization
of acquired intangible assets | |
| | | |
| 4,661 | | |
| 1.0 | % | |
| | | |
| | | |
| | | |
| 3,505 | | |
| 0.8 | % | |
| | | |
| | |
| Non-GAAP
basis | |
| | | |
$ | 63,133 | | |
| 14.2 | % | |
| | | |
| | | |
| | | |
$ | 62,887 | | |
| 13.9 | % | |
| | | |
| | |
NON-GAAP FINANCIAL MEASURES AND SEGMENT INFORMATION
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
| | |
Nine
Months Ended March 31, | |
| | |
2025 | | |
2026 | |
| (Dollars in thousands, except per-share amounts) | |
| | |
Operating | | |
% of | | |
Net | | |
| | |
| | |
Operating | | |
% of | | |
Net | | |
| |
| | |
Revenues | | |
Income | | |
Revenues | | |
Income | | |
EPS | | |
Revenues | | |
Income | | |
Revenues | | |
Income | | |
EPS | |
| OSI Consolidated | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| GAAP
basis | |
$ | 1,208,181 | | |
$ | 144,502 | | |
| 12.0 | % | |
$ | 96,889 | | |
$ | 5.67 | | |
$ | 1,301,926 | | |
$ | 145,082 | | |
| 11.1 | % | |
$ | 99,471 | | |
$ | 5.71 | |
| Impairment, restructuring and
other charges, net | |
| | | |
| 3,648 | | |
| 0.3 | % | |
| 3,648 | | |
| 0.22 | | |
| | | |
| 11,772 | | |
| 0.9 | % | |
| 11,772 | | |
| 0.68 | |
| Amortization of acquired intangible
assets | |
| | | |
| 13,226 | | |
| 1.1 | % | |
| 13,226 | | |
| 0.77 | | |
| | | |
| 10,958 | | |
| 0.9 | % | |
| 10,958 | | |
| 0.63 | |
| Non-recurring retirement expense
for former CEO | |
| | | |
| | | |
| | | |
| - | | |
| - | | |
| | | |
| | | |
| | | |
| 4,359 | | |
| 0.25 | |
| Tax effect of non-GAAP adjustments | |
| | | |
| | | |
| | | |
| (4,033 | ) | |
| (0.24 | ) | |
| | | |
| | | |
| | | |
| (6,350 | ) | |
| (0.36 | ) |
| Discrete
tax benefit | |
| | | |
| | | |
| | | |
| (5,344 | ) | |
| (0.31 | ) | |
| | | |
| | | |
| | | |
| (5,321 | ) | |
| (0.31 | ) |
| Non-GAAP
basis | |
| | | |
$ | 161,376 | | |
| 13.4 | % | |
$ | 104,386 | | |
$ | 6.11 | | |
| | | |
$ | 167,812 | | |
| 12.9 | % | |
$ | 114,889 | | |
$ | 6.60 | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| | |
| | | |
| Operating | | |
| %
of | | |
| | | |
| | | |
| | | |
| Operating | | |
| %
of | | |
| | | |
| | |
| | |
| Revenues | | |
| Income | | |
| Revenues | | |
| | | |
| | | |
| Revenues | | |
| Income | | |
| Revenues | | |
| | | |
| | |
| Revenue and Operating Income
by Segment | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Security | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| GAAP basis | |
$ | 829,209 | | |
$ | 134,414 | | |
| 16.2 | % | |
| | | |
| | | |
$ | 908,216 | | |
$ | 138,041 | | |
| 15.2 | % | |
| | | |
| | |
| Impairment, restructuring and
other charges, net | |
| | | |
| 1,882 | | |
| 0.2 | % | |
| | | |
| | | |
| | | |
| 5,087 | | |
| 0.6 | % | |
| | | |
| | |
| Amortization
of acquired intangible assets | |
| | | |
| 10,708 | | |
| 1.3 | % | |
| | | |
| | | |
| | | |
| 9,142 | | |
| 1.0 | % | |
| | | |
| | |
| Non-GAAP
basis | |
| | | |
| 147,004 | | |
| 17.7 | % | |
| | | |
| | | |
| | | |
| 152,270 | | |
| 16.8 | % | |
| | | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Optoelectronics
& Manufacturing | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| GAAP basis | |
| 299,398 | | |
| 36,541 | | |
| 12.2 | % | |
| | | |
| | | |
| 333,011 | | |
| 41,272 | | |
| 12.4 | % | |
| | | |
| | |
| Impairment, restructuring and
other charges, net | |
| | | |
| 619 | | |
| 0.2 | % | |
| | | |
| | | |
| | | |
| 261 | | |
| 0.1 | % | |
| | | |
| | |
| Amortization
of acquired intangible assets | |
| | | |
| 1,535 | | |
| 0.5 | % | |
| | | |
| | | |
| | | |
| 1,004 | | |
| 0.3 | % | |
| | | |
| | |
| Non-GAAP
basis | |
| | | |
| 38,695 | | |
| 12.9 | % | |
| | | |
| | | |
| | | |
| 42,537 | | |
| 12.8 | % | |
| | | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Healthcare | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| GAAP basis | |
| 125,678 | | |
| 3,830 | | |
| 3.0 | % | |
| | | |
| | | |
| 117,978 | | |
| (1,617 | ) | |
| -1.4 | % | |
| | | |
| | |
| Impairment, restructuring and
other charges, net | |
| | | |
| 779 | | |
| 0.6 | % | |
| | | |
| | | |
| | | |
| 4,325 | | |
| 3.7 | % | |
| | | |
| | |
| Amortization
of acquired intangible assets | |
| | | |
| 983 | | |
| 0.8 | % | |
| | | |
| | | |
| | | |
| 812 | | |
| 0.7 | % | |
| | | |
| | |
| Non-GAAP
basis | |
| | | |
| 5,592 | | |
| 4.4 | % | |
| | | |
| | | |
| | | |
| 3,520 | | |
| 3.0 | % | |
| | | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| Corporate/Elimination | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| GAAP basis | |
| (46,104 | ) | |
| (30,283 | ) | |
| | | |
| | | |
| | | |
| (57,279 | ) | |
| (32,614 | ) | |
| | | |
| | | |
| | |
| Impairment,
restructuring and other charges, net | |
| | | |
| 368 | | |
| | | |
| | | |
| | | |
| | | |
| 2,099 | | |
| | | |
| | | |
| | |
| Non-GAAP
basis | |
| | | |
| (29,915 | ) | |
| | | |
| | | |
| | | |
| | | |
| (30,515 | ) | |
| | | |
| | | |
| | |
| | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| OSI
Consolidated | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
| GAAP basis | |
$ | 1,208,181 | | |
| 144,502 | | |
| 12.0 | % | |
| | | |
| | | |
$ | 1,301,926 | | |
| 145,082 | | |
| 11.1 | % | |
| | | |
| | |
| Impairment, restructuring and
other charges, net | |
| | | |
| 3,648 | | |
| 0.3 | % | |
| | | |
| | | |
| | | |
| 11,772 | | |
| 0.9 | % | |
| | | |
| | |
| Amortization
of acquired intangible assets | |
| | | |
| 13,226 | | |
| 1.1 | % | |
| | | |
| | | |
| | | |
| 10,958 | | |
| 0.9 | % | |
| | | |
| | |
| Non-GAAP
basis | |
| | | |
$ | 161,376 | | |
| 13.4 | % | |
| | | |
| | | |
| | | |
$ | 167,812 | | |
| 12.9 | % | |
| | | |
| | |
