NASDAQ$OSIS

Osi Systems Inc · Q3 2021 earnings

Q3 2021 earnings · · Investor relations

Briefing

OSI Systems reported third quarter results with record adjusted earnings and raised fiscal 2021 revenue and non-GAAP EPS guidance.

OSI Systems reported Q3 revenues of $283.8 million and GAAP EPS of $1.03. The company's Q3 backlog increased to $1.1 billion, and they raised fiscal 2021 revenue and non-GAAP EPS guidance.

  • Q3 revenues were $283.8 million.
  • GAAP EPS was $1.03.
  • Record non-GAAP EPS was $1.38.
  • Q3 backlog increased to $1.1 billion, a 23% increase from June 30, 2020.

Headline financials

Total Revenue

$284M

Previous: $293M-3.1%
EPS (adj)

$1.38

Previous: $1.20+15.0%
Operating Cash Flow

$41.6M

Previous: $45.9M-9.4%
Backlog

$1.06B

Previous: $863M+23.2%
Capital Expenditures

$2.6M

No prior period
Free Cash Flow

$37M

Previous: $45.2M-18.2%
Net Income

$48.2M

Previous: $61.3M-21.4%
Operating Income

$32.5M

Previous: $23.6M+37.4%
Gross Profit

$104M

Previous: $109M-4.7%
Cash & Equivalents

$92.5M

Previous: $101M-8.5%
Total Assets

$1.33B

Previous: $1.29B+3.1%
Stock-Based Comp

$7.57M

Previous: $5.84M+29.6%

Revenue & EPS history

Osi Systems · Revenue · Quarterly

$284M

Q3 2021-3.1%vs Q3 2020
Beat estimate in 14 of 16 quarters(88%)
ActualEstimate

Revenue by segment

Osi Systems · $296M total across 3 segments · Q3 2021

  • Security Division
    $151M-19.1%
  • Optoelectronics & Manufacturing
    $90.3M+28.5%
  • Healthcare Division
    $54M+18.3%

Forward guidance

The Company is raising its revenue guidance to a range of $1.123 billion to $1.148 billion and is raising its non-GAAP diluted earnings per share guidance to $5.15 to $5.40 for fiscal year 2021.

Tailwinds

  • Raising revenue guidance to $1.123B - $1.148B
  • Raising non-GAAP diluted EPS guidance to $5.15 - $5.40
  • Expects sales growth during the fourth fiscal 2021 quarter
  • Optoelectronics division is positioned for a strong finish to fiscal 2021
  • Healthcare division reported an 18% increase in revenue

Headwinds

  • Actual revenues and non-GAAP diluted earnings per share for fiscal 2021 could vary from this guidance due to factors discussed under “Forward-Looking Statements” or other factors, including uncertainties as to the duration and scope of the COVID-19 pandemic.
  • Delays related to the award of domestic and international contracts
  • Failure to secure the renewal of key customer contracts
  • Delays in customer programs
  • Unanticipated impacts of sequestration and other U.S. Government budget control provisions

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2021

Historical avgQ3 2021

+0.9%

Avg return

Earnings day

+1.5%

Avg return

5 days after

+3.6%

Avg return

30 days after

58%

37 / 64 earnings

Positive

+16.7%

Q2 2019

Best reaction

-35.0%

Q2 2016

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q3 2026-0.3%-18.3%-24.5%
Q2 2026-7.2%-6.2%+5.7%
Q1 2026-2.3%+11.3%+8.6%
Q3 2025+9.6%+7.8%+7.0%
Q2 2025+14.2%+16.2%+19.7%
Q1 2025-5.5%-6.0%+16.0%
Q4 2024+3.7%+1.5%+0.6%
Q3 2024-3.5%-5.9%+2.2%
Q2 2024+3.0%+1.6%+2.4%
Q1 2024-5.4%-7.3%+7.1%
Q4 2023+11.5%+12.5%-5.5%
Q3 2023+10.2%+14.6%+17.4%
Q2 2023+5.5%+6.0%+5.3%
Q1 2023+4.4%+6.2%+14.0%
Q4 2022-6.1%-11.7%-23.2%
Q3 2022+2.2%+1.6%+9.2%
Q2 2022-2.1%-0.6%-3.9%
Q1 2022-1.8%-2.1%-3.8%
Q4 2021+0.3%-0.6%-5.8%
Q3 2021-4.3%-6.2%-4.5%
Q2 2021-3.8%-2.3%+1.1%
Q1 2021-0.2%+5.6%+15.0%
Q4 2020-1.3%-0.6%+5.6%
Q3 2020-3.1%-6.5%-1.3%
Q2 2020-0.9%-8.6%-13.3%
Q1 2020+4.5%+3.0%+1.3%
Q4 2019+3.6%+4.1%+4.9%
Q3 2019+14.9%+16.8%+16.3%
Q2 2019+16.7%+20.0%+21.5%
Q1 2019+4.9%+2.0%+7.9%
Q4 2018-0.1%+0.4%+2.1%
Q3 2018-6.0%-2.5%+0.4%
Q2 2018-17.4%-11.9%-4.2%
Q1 2018-0.0%-3.1%-2.7%
Q4 2017+6.4%+6.2%+10.3%
Q3 2017+8.7%+9.4%+10.7%
Q2 2017+3.4%-0.3%+3.1%
Q1 2017+8.5%+2.8%+17.1%
Q4 2016+9.4%+9.8%+1.6%
Q3 2016-17.5%
Q2 2016-35.0%
Q1 2016+0.9%
Q4 2015+0.2%
Q3 2015-9.2%
Q2 2015+1.8%
Q1 2015+6.0%
Q4 2014+2.1%
Q3 2014-0.1%
Q2 2014+1.6%
Q1 2014-2.9%
Q4 2013-3.1%
Q3 2013+6.0%
Q1 2013+6.0%
Q2 2013-16.1%
Q1 2012+2.9%
Q4 2010+0.8%
Q4 2012+11.0%
Q3 2011+5.6%
Q3 2012+2.1%
Q2 2011-3.6%
Q2 2012+5.9%
Q1 2011+8.3%
Q4 2011+8.3%
Q3 2010+0.4%

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