OSI Systems, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended December 31, 2013. For the quarter, the company reported revenues of $236 million, an increase of 22% as compared to $194 million for the same period a year ago. Income from operations was $22,029,000 against $18,678,000 a year ago. Income before income taxes was $20,526,000 against $17,293,000 a year ago. Net income was $14,573,000 or $0.71 per diluted share against $12,421,000 or $0.60 per diluted share a year ago. Non-GAAP net income was $16,120,000 or $0.78 per share against $14,377,000 or $0.70 per share a year ago.

For the six months, the company reported revenues of $442,682,000 compared to $375,743,000 for the same period a year ago. Income from operations was $32,502,000 against $28,792,000 a year ago. Income before income taxes was $29,529,000 against $26,310,000 a year ago. Net income was $20,967,000 or $1.02 per diluted share against $18,760,000 or $0.91 per diluted share a year ago. Non-GAAP net income was $25,524,000 or $1.24 per share against $20,716,000 or $1.01 per share a year ago.

The company is raising its sales guidance for fiscal 2014 to $890 million - $920 million, representing an 11% to 15% increase over fiscal 2013. In addition, the company is updating its fiscal 2014 earnings guidance and expects earnings per diluted share to increase at a rate of 12% - 23% to between $3.10 to $3.39, excluding the impact of impairment, restructuring and other charges, and the impact of certain tax elections. However, actual sales and non-GAAP diluted EPS could vary from this guidance due to the risks and uncertainties applicable to business and industry including the timing of certain awards and the outcome of the issues with the Transportation Security Administration.