HAWTHORNE, CA -- OSI Systems today reported net income rose 24.7% over last year on a 9% increase in revenues for the quarter ended Dec. 31.

The EMS/ODM reported revenues of $258 million for its fiscal second quarter, with net income totaling $18.2 million. The net income included restructuring and other charges of $1.5 million. As of Dec. 31, backlogs were approximately $700,000 million. During the second fiscal quarter, the company generated free cash flow of $26 million.

 "We are pleased to announce strong second quarter financial results," said Deepak Chopra, chairman and CEO. "Led by our Security Division, we achieved record sales and record earnings per share." Sales in the unit were up 29% from last year, while Healthcare revenue rose 10% boosted by growth in emerging markets and a fiscal first-quarter acquisition.

The increases elsewhere were offset in part by Optoelectronics and Manufacturing sales, which decreased year-over-year. "Operational improvements coupled with a more favorable product mix resulted in strong operating margin expansion,” Chopra said.

OSI raised its sales guidance for fiscal 2015 to $975 million to $998 million. 

"With a solid pipeline of opportunities and strong balance sheet, we believe we are well positioned for future growth," Chopra said.

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