OSI Systems Announces New 1,000,000 Share Repurchase Program
- Company completes share authorization under the prior repurchase program
HAWTHORNE, Calif. March 6, 2018 - OSI Systems, Inc. (the “Company” or “OSI Systems”) (NASDAQ: OSIS) today announced that the Company's board of directors has authorized the purchase of up to 1,000,000 shares under a new stock repurchase program. The Company acquired 872,481 shares in February 2018 at an average price of $60.76, thereby completing the authorization under its prior repurchase program.
Purchases may be made from time to time in the open market or in privately negotiated transactions and block trades, in accordance with federal securities laws, including Rule 10b-18 promulgated under the Securities Exchange Act of 1934, as amended. This program does not have an expiration date. The share repurchase program may be modified, terminated or expanded by the Company at any time without prior notice. There is no guarantee as to the exact number of shares, if any, that will be purchased by the Company. The amount and timing of any purchases will depend on a number of factors, including price, trading volume, general market conditions, legal requirements, and other factors.
About OSI Systems
OSI Systems is a vertically integrated designer and manufacturer of specialized electronic systems and components for critical applications in the homeland security, healthcare, defense and aerospace industries. The Company combines more than 40 years of electronics engineering and manufacturing experience with offices and production facilities in more than a dozen countries to implement a strategy of expansion into selective end product markets. For more information on OSI Systems or any of its subsidiary companies, visit www.osi-systems.com.
