HAWTHORNE, CA – OSI Systems reported fiscal fourth quarter revenues of $277 million, a decrease of 10% year-over-year.

For the quarter ended June 30, net income was $14 million, down 16.2% compared to the same period last year.

During the quarter, the company's book-to-bill ratio was approximately 1.0. As of June 30, the company's backlog was $861 million. Operating cash flow during the fiscal fourth quarter was $23.6 million, and capital expenditures were $4.3 million.

“We were pleased to deliver solid fourth quarter earnings and overall financial performance as we closed out the fiscal year in the midst of the Covid-19 pandemic,” said chairman and CEO Deepak Chopra. “We continue to prioritize the safety of our workforce as we navigate challenges arising from the Covid-19 pandemic. I am confident in our ability to execute our strategic goals during these uncertain times.”

For the fiscal year ended June 30, revenues decreased 1% to nearly $1.2 billion. Net income was $75.3 million, up 16.2% year-over-year.

“Our optoelectronics and manufacturing division ended the fiscal year with solid fourth quarter bookings and a record year-end backlog as we enter fiscal 2021. The team successfully managed operational challenges associated with Covid-19 to deliver a comparable year-over-year adjusted operating margin.”

For fiscal year 2021, OSI anticipates revenues in the range of $1.09 billion to $1.14 billion.

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