HAWTHORNE, Calif. - OSI Systems , Inc. (NASDAQ:OSIS), a provider of specialized electronic systems for security applications, announced today that its Security division has received an order worth around $11 million. The contract involves supplying multiple units of its Eagle® M60 mobile high-energy cargo and vehicle inspection systems, as well as subsequent maintenance and support.
The Eagle® M60 systems are designed to be relocated easily and are expected to be deployed for international border and security operations. OSI Systems' Chairman and CEO, Deepak Chopra, expressed enthusiasm for the order, stating it underscores the confidence in their advanced inspection technologies.
OSI Systems, with over 40 years of experience in electronics engineering and manufacturing, operates in the homeland security, healthcare, defense, and aerospace sectors. The company has a global presence, with offices and production facilities across numerous countries.
The announcement includes forward-looking statements, which are based on current expectations and projections about future events. These statements are subject to various risks, uncertainties, and assumptions that could cause actual results to differ from those anticipated.
This recent development is part of OSI Systems' ongoing efforts to expand its reach in the security market. The information disclosed is based on a press release statement from OSI Systems, Inc.
In other recent news, OSI Systems, a designer and manufacturer of specialized electronic systems, has secured a series of significant contracts. The company announced a $42 million contract to enhance security measures at an international airport, including the provision and maintenance of advanced screening technologies.
Moreover, OSI Systems secured a $7 million order from a prominent aerospace and defense original equipment manufacturer (OEM) to supply navigation sensors, emphasizing the importance of their sensors in critical aerospace and defense applications.
The company also revealed a $9 million order from an international client for its Eagle® M60 high-energy mobile cargo and vehicle inspection systems, marking the beginning of a multi-year agreement.
Furthermore, a $6 million order was received for electronic assemblies from an original equipment manufacturer. In the healthcare sector, OSI Systems secured a $7 million order to supply portable health monitoring devices to a leading provider of diagnostic solutions.
In yet another development, OSI Systems announced an $11 million contract to supply radiation monitoring portals to an undisclosed international customer, along with related services and support.
These recent developments highlight the company's ongoing business momentum across multiple sectors. The financial details of these transactions were not disclosed, but the orders add to OSI Systems' portfolio of contracts in the defense, aerospace, healthcare, and security sectors.
InvestingPro Insights
OSI Systems, Inc. (NASDAQ:OSIS) has demonstrated a strong financial performance over the past year, with notable highlights in its revenue and profitability metrics. According to InvestingPro data, OSI Systems has achieved a revenue growth of 22.13% in the last twelve months as of Q3 2024, signaling a robust expansion in its business operations. The company's gross profit margin stands at an impressive 35.32%, reflecting efficient cost management and a healthy profit generation capability.
Investors looking at the valuation of OSI Systems in comparison to its earnings growth will find an attractive opportunity, as the company is trading at a low P/E ratio of 18.26 relative to near-term earnings growth. This suggests that the stock may be undervalued considering its earnings potential.
Moreover, OSI Systems is trading near its 52-week high, with the price at 93.76% of this peak, indicating strong market confidence in the stock. These insights are further supported by analysts who predict the company will be profitable this year, a sentiment that is corroborated by the company's profitability over the last twelve months.
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