OSI Posts Loss, Shares Still Climb

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OSI Systems Inc. shares gained 4 percent despite reporting second quarter loss due to some one-time charges.


OSI on Wednesday reported a loss of $20.6 million (-$1.23 per share), compared with an $85,000 profit from the same period a year earlier, slightly ahead of analysts’ expectations of a $1.35 loss, according to a poll by Thompson Financial. This marks the third time in the past six quarters the company has posted a loss.


The Hawthorn-based provider of specialized electronics for health care and government uses said revenues were up 17 percent to $137.5 million, which were in line with forecasts. Results included a charge of approximately $21.5 million related to certain fixed and intangible assets and costs related to inventory reserves that totaled $10.3 million.


The company did show some bright spots, revenue from the company’s security division rose 46 percent while revenue from its health care division advanced 3 percent.


Shares closed up 92 cents Wednesday to $24.94.

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