HAWTHORNE, CA -- OSI Systems today announced fiscal fourth quarter revenues for the period ended Jun. 30 of $480.9 million, a 17% increase over the prior year quarter.

Net income was $44.7 million, up from $42.4 million, and non-GAAP net income was $49.7 million, versus $45.8 million.

Backlogs at quarter's end were approximately $1.7 billion.

For the year, revenues were $1.54 billion, a 20% increase over the prior fiscal year. Net income was $128.2 million, versus $91.8 million last year. Non-GAAP net income was $141.2 million, versus $106.7 million.

“We are pleased to report strong fourth quarter financial results as outstanding performance in the Security division led to record revenues and record adjusted earnings per share," said Deepak Chopra, chairman and chief executive, OSI Systems. "Fiscal 2024 was a great success for the company. With a backlog near all-time highs and visibility into a robust pipeline of opportunities, we believe we are well positioned for a strong fiscal 2025.

“As expected and consistent with our guidance from last quarter, our Optoelectronics and Manufacturing division bounced back to report record fourth quarter revenues. I am proud of the Optoelectronics and Manufacturing team’s focus on continuous improvement. This division is poised for solid performance in fiscal 2025 with revenue growth expectations weighted to the second half.”

For fiscal year 2025, the company anticipates revenues in the range of $1.62 billion to $1.65 billion.

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