OSI Systems Announces New 1,000,000 Share Repurchase Program
March 06 2018 - 7:30AM
Business Wire
- Company completes share authorization
under the prior repurchase program
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. News Filter:
OSIS-G
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995, Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements relate to OSI Systems’ current
expectations, beliefs, projections and similar expressions
concerning matters that are not historical facts and are not
guarantees of future performance. Forward-looking statements
involve uncertainties, risks, assumptions and contingencies, many
of which are outside OSI Systems’ control that may cause actual
results to differ materially from those described in or implied by
any forward-looking statements. All forward-looking statements are
based on currently available information and speak only as of the
date on which they are made. OSI Systems assumes no obligation to
update any forward-looking statement made in this press release
that becomes untrue because of subsequent events, new information
or otherwise, except to the extent it is required to do so in
connection with its ongoing requirements under Federal securities
laws. For a further discussion of factors that could cause OSI
Systems’ future results to differ materially from any
forward-looking statements, see the section entitled "Risk Factors"
in OSI Systems’ most recently filed Annual Report on Form 10-K and
other risks described therein and in documents subsequently filed
by OSI Systems from time to time with the Securities and Exchange
Commission.
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version on businesswire.com: http://www.businesswire.com/news/home/20180306005744/en/
OSI Systems, Inc.Ajay VashishatVice President, Business
Development310-349-2237avashishat@osi-systems.com
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