The Growth Story At OSI Systems Won't Be A Straight Line
OSI Systems: Scanning For Steam... In Its Engine
Jan. 25, 2015, 5:30 PM
Oct. 23, 2014, 10:39 AM
- OSI Systems (OSIS +3.6%) fiscal Q1 results ($M): Revenues: 218.4 (+5.9%); Gross Profit: 74.2 (+9.3%); Operating Expenses: 57.6 (+0.2%); Operating Income: 16.7 (+59.0%); Net Income: 11.2 (+75.0%); Quick Assets: 38.8 (+4.0%).
- Fiscal 2015 Guidance: Revenues: $970M - 995M; EPS: $3.53 - 3.76.
Oct. 23, 2014, 8:33 AM
- OSI Systems (NASDAQ:OSIS): FQ1 EPS of $0.57 beats by $0.01.
- Revenue of $218.39M (+5.9% Y/Y) beats by $1.42M.
Aug. 25, 2014, 8:33 AM
- OSI Systems (NASDAQ:OSIS): FQ4 EPS of $1.19 beats by $0.02.
- Revenue of $260M (+14.1% Y/Y) beats by $14.01M.
Aug. 24, 2014, 5:30 PM
Jun. 23, 2014, 10:37 AM
Apr. 30, 2014, 8:33 AM
- OSI Systems (OSIS): FQ3 EPS of $0.70 misses by $0.08.
- Revenue of $203.96M (+2.8% Y/Y) misses by $12.84M.
Jan. 28, 2014, 8:33 AM
- OSI Systems, Inc. (OSIS): Q2 EPS of $0.78 in-line.
- Revenue of $236M (+21.6% Y/Y) beats by $24.22M.
Jan. 28, 2014, 12:05 AM
Jan. 27, 2014, 5:30 PM
Dec. 27, 2013, 10:44 AM
- OSI Systems (OSIS +1.6%) shares spike as high as 5.2% and pare gains after news breaks of a General Services Administration document dated Dec. 26 showing the company's Rapiscan subsidiary has potentially received new funding.
- Investors may view the news as a sign for ease. Earlier this month, shares plunged 34% on news that Rapiscan could face potential debarment following a TSA contract fiasco (an event to which OSI is no stranger).
Dec. 10, 2013, 9:35 AM
- Shares of OSI Systems (OSIS +3%) fell as much as 39.8% yesterday before clawing back gains on news that the TSA wants to debar the company's Rapiscan subsidiary from future government contracts after it substituted a Chinese part into scanners that were part of a subsequently cancelled $60M contract. Benchmark and CRT Capital defended the stock yesterday, calling the move overblown.
- Roth Capital and Stephens are out defending the company in the morning. Roth thinks a worst-case scenario is priced in, views the congressmen's recommendation to debar as extreme, and thinks shares could rally to $66-$84 on a positive resolution.
- Stephens reiterated an Overweight rating but reduced its PT to $60 from $86. Analyst Tim Quillin writes, "While OSIS' missteps in its Security business are deeply troubling and suggest systemic management issues, we believe the stock's 33% nosedive over the past 2 trading days largely reflects those issues. With the stock trading at ~6x FY14E EBITDA, we believe investors should consider the stock here, but caution that negative headline risk remains high."
Dec. 9, 2013, 12:45 PM
Dec. 9, 2013, 12:02 PM
- OSI Systems' (OSIS -33.6%) shares plummet after news breaks that the company may face a ban on contracts with the DHS after its Rapiscan Systems subsidiary lost a contract from the TSA for carry-on baggage screeners.
- The fiasco began on Friday, with OSI using a Chinese part without receiving consent from the TSA, which led to the department pulling the rug out from a $60M contract OSI won weeks ago.
- The company is no stranger to government contract trouble, with Rapiscan averting debarment by the DHS last year over accusations that it had misled the TSA about testing of its body-scanning machines.
- There is market chatter that Benchmark is out defending the company, calling the meltdown an overreaction.
Dec. 9, 2013, 9:59 AM
- OSI Systems (OSIS +0.8%) releases a public announcement on the TSA's $60M order cancellation: it believes the termination "results from Rapidscan's use of an upgraded component in the AT-2 detection systems. ... it did not meet the contractual approval requirement of obtaining TSA's approval in advance ... When Rapsican leadership discovered the error, they proactively informed the TSA of the configuration change."
- The X-ray generators are produced by Shanghai Advanced Non-Destructive Testing, which "According to the TSA's own preliminary test results ... shows comparable detection capability and false alarm rates."
- Shares tumbled 9.4% last Friday when the disclosure of the contract cancellation first hit. The TSA intends to issue a revised solicitation for the contract.
Dec. 6, 2013, 10:50 AM
- OSI Systems (OSIS -7.7%) shares fall after the contractor loses a $60M order for passenger screening machines from the TSA. The order, secured by subsidiary Rapiscan Systems on Sept. 26, was "terminated for default ... TSA further stated it will issue a revised solicitation for the systems in the future."
- The company has struggled in the past year, with hundreds of its imaging machines being pulled from airports after the TSA concluded that OSI could not meet a congressional deadline to make images from its so-called "naked scanners" more generic.
- Oppenheimer noted, "The failure sounds rather pedestrian but in the context of the recent dispute with the TSA raises serious questions about the day-to-day management of OSI's most important segment."
OSI Systems, Inc. is an integrated designer and manufacturer of specialized electronic systems and components for critical applications. The company sells its products and provides services in diversified markets, including homeland security, healthcare, defense and aerospace. It operates... More
Industry: Semiconductor Equipment & Materials
Country: United States
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