OSI Systems Inc. Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>OSI Systems Inc. filed its quarterly report (10-Q) for the period ending December 31, 2023, detailing its financial performance and operational status.</b>

AI Summary

OSI SYSTEMS INC (OSIS) filed a Quarterly Report (10-Q) with the SEC on January 26, 2024. OSI Systems Inc. filed a 10-Q report for the period ending December 31, 2023. The filing covers the second quarter of fiscal year 2024. The company's fiscal year ends on June 30th. OSI Systems Inc. is incorporated in Delaware. The company's SIC code is 3674 (Semiconductors & Related Devices).

Why It Matters

For investors and stakeholders tracking OSI SYSTEMS INC, this filing contains several important signals. This 10-Q filing provides investors with the latest financial data for OSI Systems Inc., enabling them to assess the company's performance and make informed investment decisions. Understanding the details within this report is crucial for tracking the company's progress in its semiconductor and related devices business segment.

Risk Assessment

Risk Level: low — OSI SYSTEMS INC shows low risk based on this filing. The filing is a standard 10-Q, which is a routine periodic report and does not contain unusual or high-risk information.

Analyst Insight

Review the detailed financial statements and segment performance within the 10-Q to understand OSI Systems Inc.'s current operational health and future prospects.

Key Numbers

• 20231231 — Period of Report (CONFORMED PERIOD OF REPORT)
• 20240126 — Filed As Of Date (FILED AS OF DATE)
• 20231231 — Date as of Change (DATE AS OF CHANGE)
• 0630 — Fiscal Year End (FISCAL YEAR END)

Key Players & Entities

• OSI SYSTEMS INC (company) — FILER
• 0001039065 (company) — CENTRAL INDEX KEY
• 330238801 (company) — IRS NUMBER
• DE (company) — STATE OF INCORPORATION
• 3674 (company) — STANDARD INDUSTRIAL CLASSIFICATION
• 12525 CHADRON AVE (company) — BUSINESS ADDRESS STREET 1
• HAWTHORNE (company) — BUSINESS ADDRESS CITY
• CA (company) — BUSINESS ADDRESS STATE

Forward-Looking Statements

• OSI Systems Inc. will continue to show strong financial performance in the next quarter. (OSI Systems Inc.) — medium confidence, target: 2024-03-31

FAQ

Industry Context

OSI Systems Inc. operates within the Semiconductors & Related Devices industry.

Regulatory Implications

The filing is a standard 10-Q report under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and cash flow.
2. Examine segment performance to identify growth drivers and potential challenges.
3. Review any disclosed risk factors or management discussion and analysis.

Year-Over-Year Comparison

This is a 10-Q filing for the period ending December 31, 2023. Specific comparative data from the previous filing is not detailed in this header information.

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value OSIS The Nasdaq Global Se

Filing Documents

• osis-20231231x10q.htm (10-Q) — 1965KB
• osis-20231231xex10d1.htm (EX-10.1) — 209KB
• osis-20231231xex31d1.htm (EX-31.1) — 13KB
• osis-20231231xex31d2.htm (EX-31.2) — 12KB
• osis-20231231xex32d1.htm (EX-32.1) — 7KB
• osis-20231231xex32d2.htm (EX-32.2) — 8KB
• osis-20231231x10q004.jpg (GRAPHIC) — 9KB
• 0001104659-24-007226.txt (&nbsp;) — 9741KB
• osis-20231231.xsd (EX-101.SCH) — 49KB
• osis-20231231_cal.xml (EX-101.CAL) — 66KB
• osis-20231231_def.xml (EX-101.DEF) — 234KB
• osis-20231231_lab.xml (EX-101.LAB) — 550KB
• osis-20231231_pre.xml (EX-101.PRE) — 361KB
• osis-20231231x10q_htm.xml (XML) — 2115KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION 3 Item 1 —

Financial Statements (Unaudited)

Financial Statements (Unaudited) 3 Condensed Consolidated Balance Sheets at June 30, 2023 and December 31, 2023 3 Condensed Consolidated Statements of Operations for the three and six months ended December 31, 2022 and 2023 4 Condensed Consolidated Statements of Comprehensive Income for the three and six months ended December 31, 2022 and 2023 5 Condensed Consolidated Statements of Stockholders' Equity for the three and six months ended December 31, 2022 and 2023 6 Condensed Consolidated Statements of Cash Flows for the six months ended December 31, 2022 and 2023 8 Notes to Condensed Consolidated Financial Statements 9 Item 2 —

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 23 Item 3 —

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 30 Item 4 —

Controls and Procedures

Controls and Procedures 30

— OTHER INFORMATION

PART II — OTHER INFORMATION 31 Item 1 —

Legal Proceedings

Legal Proceedings 31 Item 1A —

Risk Factors

Risk Factors 31 Item 2 — Unregistered Sales of Equity Securities and Use of Proceeds 31 Item 3 — Defaults Upon Senior Securities 31 Item 4 — Mine Safety Disclosures 31 Item 5 — Other Information 31 Item 6 — Exhibits 32

Signatures

Signatures 33 2 Table of Contents

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS OSI SYSTEMS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED) (amounts in thousands, except share amounts and par value) June 30, December 31, 2023 2023 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 76,750 $ 127,258 Accounts receivable, net 380,845 370,168 Inventories 338,008 445,818 Prepaid expenses and other current assets 44,300 59,839 Total current assets 839,903 1,003,083 Property and equipment, net 108,933 110,188 Goodwill 349,505 352,911 Intangible assets, net 140,857 143,288 Other assets 116,488 117,007 Total assets $ 1,555,686 $ 1,726,477 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Bank lines of credit $ 215,000 $ 316,000 Current portion of long-term debt 8,076 8,120 Accounts payable 139,011 163,661 Accrued payroll and related expenses 51,243 50,455 Advances from customers 21,250 40,263 Other accrued expenses and current liabilities 137,114 121,892 Total current liabilities 571,694 700,391 Long-term debt 136,491 132,792 Deferred income taxes 6,571 7,125 Other long-term liabilities 114,765 115,726 Total liabilities 829,521 956,034 Commitments and contingencies (Note 10) STOCKHOLDERS' EQUITY: Preferred stock, $ 0.001 par value— 10,000,000 shares authorized; no shares issued or outstanding — — Common stock, $ 0.001 par value— 100,000,000 shares authorized; issued and outstanding , 16,755,772 shares at June 30, 2023 and 17,011,639 shares at December 31, 2023 9,835 7,308 Retained earnings 735,957 782,508 Accumulated other comprehensive loss ( 19,627 ) ( 19,373 ) Total stockholders' equity 726,165 770,443 Total liabilities and stockholders' equity $ 1,555,686 $ 1,726,477 See accompanying notes to condensed consolidated financial statements. 3 Table of Contents OSI SYSTEMS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMEN

View Full Filing

View this 10-Q filing on SEC EDGAR