According to "Bizjournals.com", Costs from expensing stock options caused a large drop in profits for OSI Systems Inc.in the second quarter.
The company earned $85,000, or zero cents a share, compared with $2.5 million, or 15 cents a share, in the second quarter a year ago. Analyst estimates had predicted earnings of 1 cent a share.
Quarterly revenues were $117.1 million, up 14 percent from $102.5 million a year ago.
In the six-month period, the company lost $4.1 million, or 26 cents a share, on revenues of $219 million. In the same period a year ago, the company earned $3.8 million, or 23 cents a share, on revenues of $190.2 million.
Hawthorne’s OSI (NASDAQ: OSIS) makes X-ray equipment for airports.
