OSI Systems’ Revenue, Net Income Rise

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Hawthorne’s OSI Systems reported net income of $22.1 million ($1.07 a share) for the fourth quarter ended June 30, compared to net income of $11.8 million (58 cents) in the same period a year earlier. Revenue for the maker of medical diagnostic equipment and security scanners rose 14 percent, to $260 million. The results analysts’ projections of earnings of $1.17 a share on revenue of $246 million.

The better-than-expected earnings report came on the heels of two fourth quarter contracts. The company’s Rapiscan security division won a $102 million contract from the Department of Defense to support to supply cargo and vehicle and inspection systems for use in operations in Iraq. The division also landed a contract to put an X-ray baggage inspection equipment in service at a “major Middle Eastern airport” in June.

Shares of OSI rose less than a point on Monday to close at $67.61.

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