An improved U.S. market helped bone densitometry provider OSI Systems grow revenues in its Healthcare Group in the company's second quarter of fiscal year 2012 (end-December 31).
OSI reported a gain of 11% in total revenues to $188 million for the second quarter, compared with $169.3 million in last fiscal year's second quarter. Net income advanced to $12.3 million, compared with net income of $9.2 million in the second quarter of fiscal 2011.
OSI's Healthcare Group achieved revenues of $59.2 million in the second quarter, compared with $55.8 million in the second quarter of fiscal 2011. Operating income climbed to $8.3 million, compared with $5.7 million in the last fiscal year's second quarter.
For the six-month period, the company reported revenues of $349.3 million, up 17% from $297.7 million in the same period a year ago. Net income rose to $17.1 million, compared with $12.6 million in the same period last year.
The Healthcare Group posted revenues of $105.7 million over six months, a gain of 6% from $101.7 million in the same period last year. Operating income increased 47% to $10.7 million, compared with $8.3 million in the same period of fiscal 2011.
New long-term contracts with major healthcare group purchasing organizations are expected to contribute to continued growth in the U.S. market, OSI added.
