OSIS - Why OSI Systems Stock Is Jumping Today
2023-08-24 10:44:45 ET
Shares of OSI Systems (NASDAQ: OSIS) are seeing strong pricing gains Thursday. The company's stock was up 16.1% as of 10:30 a.m. ET, according to data from S&P Global Market Intelligence .
Before the market opened today, OSI published its results for the fourth quarter of its fiscal year -- which ended June 30. The company recorded non-GAAP (adjusted) earnings per share of $2.66 on sales of $411.9 million in the period, while the average analyst estimate had called for per-share earnings of $2.54 on sales of $411.9 million.
OSI makes electronics hardware for security purposes, optoelectronics, and healthcare applications. Sales for the security segment rose 28.7% year over year in the fourth quarter to hit $269.1 million. Meanwhile, its healthcare segment saw revenue increase 17.9% to reach $59.5 million, and optoelectronics revenue grew 11.2% to reach $100.9 million.
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Why OSI Systems Stock Is Jumping Today