OSI Systems(OSIS) - 2024 Q4 - Annual Results

Financial Performance - Record Q4 revenues of $481 million, representing a 17% year-over-year growth[1] - Record fiscal year revenues of$ 1.54 billion, a 20% increase compared to the previous fiscal year[3] - Q4 GAAP diluted EPS of $2.55 and record non-GAAP diluted EPS of$ 2.84, up from $2.66 in the same quarter last year[2] - Fiscal year GAAP diluted EPS of$ 7.38 and record non-GAAP diluted EPS of $8.13, reflecting a 31% growth year-over-year[3] - Total revenues for the three months ended June 30, 2024, were$ 480,907, a 16.7% increase from $411,870 for the same period in 2023[14] - The Security division reported revenues of$ 342,509 for the three months ended June 30, 2024, up from $269,103, representing a 27.2% increase[14] - Operating income for the total company for the three months ended June 30, 2024, was$ 62,818, compared to $57,151 for the same period in 2023, reflecting an increase of 9.3%[14] - The company reported a GAAP net income of$ 44,679 for the three months ended June 30, 2024, compared to $42,381 for the same period in 2023, an increase of 5.4%[17] - Non-GAAP net income for the three months ended June 30, 2024, was$ 49,680, up from $45,823 for the same period in 2023, reflecting a 4.0% increase[17] Future Outlook - Anticipated fiscal year 2025 revenues in the range of$ 1.620 billion to $1.650 billion, with non-GAAP adjusted EPS guidance of$ 8.80 to $9.15[6] - Strong Q4 backlog of approximately$ 1.7 billion, indicating robust demand and future revenue visibility[3] - Focus on new product development in the Healthcare division, particularly in patient monitoring, to drive future growth[5] Assets and Liabilities - Cash and cash equivalents increased to $95,353 as of June 30, 2024, from$ 76,750 as of June 30, 2023, marking a 24.2% increase[16] - Accounts receivable rose significantly to $648,155 as of June 30, 2024, compared to$ 380,845 as of June 30, 2023, an increase of 70.4%[16] - Total assets increased to $1,936,008 as of June 30, 2024, from$ 1,555,686 as of June 30, 2023, representing a growth of 24.4%[16] - The total liabilities increased to $1,072,525 as of June 30, 2024, from$ 829,521 as of June 30, 2023, an increase of 29.3%[16] Operating Income and Expenses - Total GAAP operating income for the company was $189.06 million, which is 12.3% of total sales[21] - Total operating income (loss) on a Non-GAAP basis was$ 212.22 million, representing 13.8% of total sales[21] - GAAP operating income for the Security Division was $183.27 million, representing 17.6% of sales[21] - Non-GAAP operating income for the Optoelectronics Manufacturing Division was$ 50.36 million, accounting for 13.1% of sales[21] - The Healthcare Division reported an operating income of $8.03 million, which is 4.7% of its sales[21] - Restructuring and other charges amounted to$ 6.39 million, representing 0.4% of total sales[21] - The Security Division's restructuring charges were $675,000, equating to 0.1% of its sales[21] - The Optoelectronics Manufacturing Division incurred restructuring charges of$ 3.55 million, or 1.0% of its sales[21] - Corporate/Elimination segment reported a loss of $41.68 million[21] Capital Management - Successful issuance of$ 350 million convertible senior notes at an interest rate of 2.25%, aimed at reducing borrowing costs[5] - Capital expenditures of $8.5 million and depreciation and amortization of$ 11.7 million reported for Q4 FY24[3]