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OSI tops 3Q profit forecasts

HAWTHORNE, Calif. (AP) _ OSI Systems Inc. (OSIS) on Wednesday reported fiscal third-quarter earnings of $14 million.

On a per-share basis, the Hawthorne, California-based company said it had net income of 72 cents. Earnings, adjusted for one-time gains and costs, were 85 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 80 cents per share.

The airport security and full-body scanner manufacturer posted revenue of $245.1 million in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $246.3 million.

OSI expects full-year earnings in the range of $2.85 to $3.05 per share, with revenue in the range of $950 million to $970 million.

OSI shares have declined nearly 7 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $70.90, a climb of 16 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OSIS at https://www.zacks.com/ap/OSIS

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Keywords: OSI Systems, Earnings Report