By Sabela Ojea
Shares of OSI Systems were on track for a record high close after the company raised its outlook for fiscal 2025.
The stock was up 15% to $194.84 on Thursday. Shares have surged 46% over the past 12 months.
The designer and manufacturer of specialized electronic systems said it now expects fiscal 2025 adjusted earnings, those that strip out one-time items, of $9.10 to $9.40 a share, up from a prior outlook in the range of $9 to $9.39. The company also guided for revenue of $1.69 billion to $1.71 billion, up from a prior guidance of $1.67 billion to $1.70 billion.
"Given our robust backlog and high visibility into our opportunity pipeline, we anticipate a strong second half of fiscal 2025," Chief Executive Ajay Mehra said.
OSI Systems' outlook comes as it reports a rise in profit and revenue for its fiscal second quarter ended Dec. 31.
The company posted a net profit of $37.8 million, or $2.22 a share, compared with $36.6 million, or $2.11 a share, for the same period a year earlier. Adjusted earnings came in at $2.42 a share, beating the $2.33 expected by Wall Street.
Quarterly revenue climbed 12% to $419.8 million, ahead of the $406.6 million forecast by analysts. Mehra said that its performance was driven by its security division and a solid performance in the optoelectronics and manufacturing segment.
Write to Sabela Ojea at sabela.ojea@wsj.com
(END) Dow Jones Newswires
January 23, 2025 13:08 ET (18:08 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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