OSI Systems Inc (OSIS) Q3 2020 Earnings Call Transcript

OSI Systems Inc (OSIS) Q3 2020 Earnings Call Transcript

OSI Systems Inc ( NASDAQ:OSIS ) Q3 2020 Earnings Call Apr 30, 2020 , 4:30 p.m. ET. I'm Alan Edrick, Executive Vice President and CFO of OSI Systems.. Earlier today, we issued a press release announcing our third quarter fiscal year 2020 financial results.. During today's call, we refer to both GAAP and non-GAAP financial measures when describing the company's results.. I will then turn the call over to Deepak to discuss the company's business before returning to discuss the third quarter results in more detail and also to provide our updated guidance.. Gross margin expansion, coupled with lower borrowing costs, led to record GAAP diluted earnings per share of $1.06 and record non-GAAP diluted earnings per share of $1.20.. Our balance sheet is strong, and we ended the quarter with net leverage as measured under our credit facility of approximately 1.4.. Before diving more deeply into our financial results and discussing our updated fiscal 2020 guidance, let me turn the call over to Deepak.. Let's review each business, starting with Security, where revenues were $187 million or about 3% lower than the prior year Q3.. In late March, we saw increased demand for patient monitoring platforms.. In summary, we