HAWTHORNE, CA – OSI Systems reported fiscal second quarter revenues of $276 million, down 9.6% year-over-year.

Net income for the quarter ended Dec. 31 was $20 million, a decrease of 4.8% compared to the fiscal second quarter of 2020.

“We are pleased with our second quarter performance, as we delivered record adjusted earnings despite the continued impact of the Covid-19 pandemic,” said Deepak Chopra, chairman and CEO. “With a healthy backlog and robust pipeline of opportunities, we believe we are well positioned as we enter the second half of fiscal 2021.”

For the six months ended Dec. 31, revenues were $530.9 million, down 11% year-over-year. Net income was $29.4 million, a decrease of 29.5%.

During the fiscal second quarter, the company’s book-to-bill ratio was 1.1. As of Dec. 31, backlog was $1.031 billion, compared to $861 million as of June 30. Operating cash flow during the quarter was $35.6 million, and capital expenditures were $4.7 million.

“Our optoelectronics and manufacturing division again delivered outstanding results with record second quarter sales and operating income. We continue to see strong global demand, and with record Opto backlog, we expect the division to deliver strong results for the remainder of fiscal 2021.”

For fiscal year 2021, OSI is raising its revenue guidance to a range of $1.11 billion to $1.145 billion.

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