HAWTHORNE, CA – OSI Systems reported fiscal fourth quarter revenues of $308.4 million, an increase of 7% year-over-year.

Net income for the quarter ended June 30 was $16.7 million, up 227.5% compared to the same period in 2018.

During the fiscal fourth quarter, OSI’s book-to-bill ratio for equipment and related services (non-turnkey) was approximately one. As of June 30, the company's backlog was $911 million. Operating cash flow during the quarter was $31.4 million, compared to $17.3 million for the comparable prior year period.

“Our Security division had another strong quarter,” said Deepak Chopra, chairman and CEO. “Driven by growth in cargo and RTT sales, fourth quarter revenues in the division reached a record $195 million. We look forward to launching two new turnkey programs in the first half of fiscal 2020 and continuing the strong momentum.

“We are pleased to announce a strong finish to an excellent year. Each division contributed to solid growth in fourth quarter revenues and earnings. With a healthy backlog and pipeline of opportunities, we believe the company is well positioned as we enter fiscal 2020.

“Our Optoelectronics and Manufacturing division continued its steady performance. Sales growth was solid with another quarter of year-over-year operating margin expansion.”

For fiscal 2019, revenues increased 9% year-over-year to $1.18 billion. Net income was $64.8 million, compared to a net loss of $29.1 million in the prior fiscal year.

For fiscal 2020, OSI anticipates revenues in the range of $1.235 billion to $1.27 billion.

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