OSI Systems Inc. on Tuesday reported better-than-expected fiscal second quarter profit on higher sales of its airport security screening system, and it raised its outlook for the coming year.
The Hawthorne company makes the controversial airport screeners that are more revealing and also makes medical diagnostic scanners.
It reported $9.2 million (47 cents a share), compared with $7 million (39 cents) a year earlier. Revenue rose 12 percent to more than $169 million. Sales in its security unit, which accounted for roughly 42 percent of revenue, more than doubled but its healthcare division sales were down 2 percent.
Excluding restructuring charges, the company said it earned 51 cents a share. Analysts surveyed by Thomson Reuters on average expected adjusted per-share earnings of 47 cents on revenue of more than $164 million.
OSI’s order backlog was up 22 percent to $293 million at the end of the quarter. Based on this, the company now expects per-share profit of $1.75 to $1.85 on revenue of $650 to $662 million. It previously expected $1.70 to $1.82 a share on revenue of $645 to $660 million.
“The backlog, combined with a robust pipeline, provides confidence in sustaining exceptional growth in our security division,” Chief Executive Deepak Chopra said in a statement.
Shares were up 84 cents, or 2.4 percent, to $36.79 in midday trading on the Nasdaq.
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