OSI Systems, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended December 31, 2012. For the quarter, the company reported revenues of $194,049,000, an increase of 3% as compared to $187,993,000 for the same period a year ago. Income from operations was $18,678,000 against $18,299,000 a year ago. Income before income taxes was $17,293,000 against $17,578,000 a year ago. Net income was $12,421,000 or $0.60 per diluted share compared to net income of $12,301,000 or $0.61 per diluted share for the second quarter of fiscal 2012. Excluding the impact of impairment, restructuring and other charges, non-GAAP net income for the second quarter of fiscal 2013 would have been $14,377,000 or $0.70 per diluted share compared to $13,301,000 or $0.61 per diluted share a year ago. During the three months ended December 31, 2012, the company generated cash flow from operations of $20,000,000. Capital expenditures during that period totaled $55,000,000 as the company continued to invest in building infrastructure and capital equipment in Mexico.

For the six months ended December 31, 2012, the company reported revenues of $375,743,000, an increase of 8% as compared to $349,310,000 for the same period a year ago. Income from operations was $28,792,000 against $25,909,000 a year ago. Income before income taxes was $26,310,000 against $24,389,000 a year ago. Net income for the six months ended December 31, 2012 was $18,760,000 or $0.91 per diluted share compared to net income of $17,062,000 or $0.85 per diluted share for the six months ended December 31, 2011. Excluding the impact of impairment, restructuring and other charges, non-GAAP net income for the second quarter of fiscal 2013 would have been $20,716,000 or $1.01 per diluted share compared to $17,062,000 or $0.85 per diluted share a year ago.

The company reiterated earnings guidance for fiscal 2013. Subject to the risk factors, the company is reiterating its fiscal 2013 earnings guidance and expects earnings per diluted share to increase at a rate of 21% to 31% to between $2.77 to $3.00, excluding the impact of impairment, restructuring and other non-recurring charges. The company currently expects revenues to between $850 million to $875 million, representing a 7% to 10% increase over fiscal 2012 revenues.