OSI Systems Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>OSI Systems Inc. filed its quarterly 10-Q report for the period ending March 31, 2024, detailing financial performance and corporate structure.</b>

AI Summary

OSI SYSTEMS INC (OSIS) filed a Quarterly Report (10-Q) with the SEC on April 30, 2024. OSI Systems Inc. reported financial results for the period ending March 31, 2024. The filing is a 10-Q, indicating a quarterly report. The company's fiscal year ends on June 30. The filing includes data related to common stock, retained earnings, and accumulated other comprehensive income as of various dates. Information on share-based compensation plans, including restricted stock units and performance-based awards, is also present.

Why It Matters

For investors and stakeholders tracking OSI SYSTEMS INC, this filing contains several important signals. This 10-Q filing provides investors with an updated view of OSI Systems' financial health and operational status for the most recent quarter. Understanding the details within this report is crucial for assessing the company's performance trends, potential risks, and future outlook.

Risk Assessment

Risk Level: low — OSI SYSTEMS INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not appear to contain immediate red flags or significant negative disclosures based on the provided header information.

Analyst Insight

Review the detailed financial statements and management discussion within the full 10-Q filing to identify specific revenue drivers, cost structures, and any forward-looking statements.

Key Numbers

• 2024-03-31 — Period of Report (Quarterly report end date)
• 2024-04-30 — Filed As Of Date (Date the report was filed)
• 0630 — Fiscal Year End (Company's fiscal year end month and day)

Key Players & Entities

• OSI SYSTEMS INC (company) — Filer name
• 2024-03-31 (date) — Period of report
• 2024-04-30 (date) — Filed as of date
• 0001039065 (company) — Central Index Key
• 3109780516 (phone) — Business phone

FAQ

Industry Context

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

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the consolidated balance sheets for changes in assets and liabilities.
2. Examine the consolidated statements of operations for revenue and net income trends.
3. Review disclosures related to share-based compensation and any significant accounting policies.

Year-Over-Year Comparison

This is a 10-Q filing for the quarter ended March 31, 2024. Specific comparative data from the previous filing (e.g., 10-Q for Dec 31, 2023) is not detailed in the header.

Key Financial Figures

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

Filing Documents

• osis-20240331x10q.htm (10-Q) — 2006KB
• osis-20240331xex10d1.htm (EX-10.1) — 124KB
• osis-20240331xex10d2.htm (EX-10.2) — 125KB
• osis-20240331xex10d3.htm (EX-10.3) — 124KB
• osis-20240331xex31d1.htm (EX-31.1) — 13KB
• osis-20240331xex31d2.htm (EX-31.2) — 13KB
• osis-20240331xex32d1.htm (EX-32.1) — 8KB
• osis-20240331xex32d2.htm (EX-32.2) — 8KB
• osis-20240331x10q004.jpg (GRAPHIC) — 9KB
• 0001410578-24-000570.txt (&nbsp;) — 10040KB
• osis-20240331.xsd (EX-101.SCH) — 49KB
• osis-20240331_cal.xml (EX-101.CAL) — 66KB
• osis-20240331_def.xml (EX-101.DEF) — 233KB
• osis-20240331_lab.xml (EX-101.LAB) — 549KB
• osis-20240331_pre.xml (EX-101.PRE) — 360KB
• osis-20240331x10q_htm.xml (XML) — 2134KB

— 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 March 31, 2024 3 Condensed Consolidated Statements of Operations for the three and nine months ended March 31, 2023 and 2024 4 Condensed Consolidated Statements of Comprehensive Income for the three and nine months ended March 31, 2023 and 2024 5 Condensed Consolidated Statements of Stockholders' Equity for the three and nine months ended March 31, 2023 and 2024 6 Condensed Consolidated Statements of Cash Flows for the nine months ended March 31, 2023 and 2024 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 24 Item 3 —

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 31 Item 4 —

Controls and Procedures

Controls and Procedures 31

— OTHER INFORMATION

PART II — OTHER INFORMATION 32 Item 1 —

Legal Proceedings

Legal Proceedings 32 Item 1A —

Risk Factors

Risk Factors 32 Item 2 — Unregistered Sales of Equity Securities and Use of Proceeds 32 Item 3 — Defaults Upon Senior Securities 32 Item 4 — Mine Safety Disclosures 32 Item 5 — Other Information 32 Item 6 — Exhibits 35

Signatures

Signatures 36 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, March 31, 2023 2024 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 76,750 $ 101,443 Accounts receivable, net 380,845 503,828 Inventories 338,008 442,797 Prepaid expenses and other current assets 44,300 71,182 Total current assets 839,903 1,119,250 Property and equipment, net 108,933 110,399 Goodwill 349,505 352,119 Intangible assets, net 140,857 142,056 Other assets 116,488 107,251 Total assets $ 1,555,686 $ 1,831,075 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES: Bank lines of credit $ 215,000 $ 349,000 Current portion of long-term debt 8,076 8,212 Accounts payable 139,011 172,115 Accrued payroll and related expenses 51,243 43,554 Advances from customers 21,250 65,888 Other accrued expenses and current liabilities 137,114 122,913 Total current liabilities 571,694 761,682 Long-term debt 136,491 131,214 Deferred income taxes 6,571 7,293 Other long-term liabilities 114,765 117,473 Total liabilities 829,521 1,017,662 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 17,048,704 shares at March 31, 2024 9,835 16,667 Retained earnings 735,957 816,551 Accumulated other comprehensive loss ( 19,627 ) ( 19,805 ) Total stockholders' equity 726,165 813,413 Total liabilities and stockholders' equity $ 1,555,686 $ 1,831,075 See accompanying notes to condensed consolidated financial statements. 3 Table of Contents OSI SYSTEMS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS

View Full Filing

View this 10-Q filing on SEC EDGAR