OSI Systems, Inc. (NASDAQ:OSIS) Q1 2024 Earnings Conference Call October 26, 2023 12:00 PM ET
Company Participants
Alan Edrick - EVP & CFO
Deepak Chopra - Chairman, CEO & President
Conference Call Participants
Michael Nichols - B. Riley Securities, Inc.
Jeffrey Martin - ROTH MKM Partners
Lawrence Solow - CJS Securities
Christopher Glynn - Oppenheimer
Operator
Thank you for standing by, and welcome to the OSI Systems First Quarter 2024 Conference Call. [Operator Instructions]. As a reminder, today's program is being recorded. And now I'd like to introduce your host for today's program, Alan Edrick, Chief Financial Officer. Please go ahead, sir.
Alan Edrick
Good morning, and thank you for joining us. I'm Alan Edrick, Executive Vice President and CFO of OSI Systems, and I'm here today with Deepak Chopra, OSI's President and CEO. Welcome to the OSI Systems Fiscal 2024 First Quarter Conference Call. We are pleased that you can join us as we review our financial and operational results. Earlier today, we issued a press release announcing our 2024 fiscal year first quarter financial results. And before we discuss our results, however, I'd like to remind everyone that today's discussion will include forward-looking statements, and the company wishes to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 with respect to such forward-looking statements. All forward-looking statements made on this call are based on currently available information, and the company undertakes no obligation to update any forward-looking statement based on subsequent events or new information or otherwise.
During today's call, we will refer both to GAAP and non-GAAP financial measures when describing the company's results. For further information regarding non-GAAP measures and comparable GAAP measures of the company's results and a quantitative reconciliation of those figures, please refer to today's earnings release.
I will begin with a high-level summary of our financial performance for the first quarter of fiscal '24 and then turn the call over to Deepak for a discussion of our business and operational performance. We will then finish with more detail regarding our financial results and a discussion of our outlook for fiscal year '24. Our first quarter financial results were generally solid with the Security Division again generating double-digit revenue growth and significant year-over-year operating margin expansion, and the Opto division performing very well, while the Healthcare division experienced a challenging quarter. We are enthusiastic about the overall significant revenue and earnings growth anticipated for the balance of fiscal '24.