Item 5. Market for Registrant’s Common Equity
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Stock Market and Other Information
Our Common Stock is traded on The Nasdaq Global Select Market under the symbol “OSIS.”
As of August 17, 2020, there were approximately 101 holders of record of our Common Stock. This number does not include beneficial owners holding shares through nominees or in “street” name.
Issuer Purchases of Equity Securities
Excluding shares tendered to satisfy minimum statutory withholding obligations related to the vesting of RSUs, we did not repurchase any shares during the quarter ended June 30, 2020.
The following table provides information concerning our equity compensation plans as of June 30, 2020.
Number of securities
remaining available for
Number of securities to
Weighted ‑ average
future issuance under
be issued upon exercise
exercise price of
equity compensation
of outstanding options,
outstanding options,
plans (excluding securities
Plan category
warrants and rights
warrants and rights
reflected in column (a))
(a)
(b)
(c)
Equity compensation plans approved by security holders (1)
326,304
$
44.41
1,038,962 (2)(3)(4)
Equity compensation plans not approved by security holders
—
N/A
—
Total
326,304
$
44.41
1,038,962
(1) Includes shares of our Common Stock issuable upon exercise of options under our 2006 Equity Participation Plan and our Amended and Restated 2012 Incentive Award Plan.
(2) These shares are available for future issuance under our Amended and Restated 2012 Incentive Award Plan, which was approved by our shareholders on December 11, 2017.
(3) Awards of restricted stock units or other awards that convey the full value of the shares subject to the award are counted as 1.87 shares for every one award granted.
(4) Shares subject to awards outstanding under the 2006 Equity Participation Plan that terminate, expire or lapse for any reason also become available for future issuance under our Amended and Restated 2012 Incentive Award Plan.
Performance Graph
The graph below compares the cumulative total stockholder return for the period beginning on the market close on the last trading day before the beginning of our fifth preceding fiscal year through and including the end of our last completed fiscal year with (a) The Nasdaq Composite Index and (b) a peer group of publicly-traded issuer(s) with which we have generally competed.
The peer group includes the following companies: Conmed Corp, Flir Systems Inc, Leidos Holdings Inc., Smiths Group Plc.
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The graph assumes that $100.00 was invested on June 30, 2015 in (a) our Common Stock, (b) The Nasdaq Composite Index, and (c) the companies comprising the peer group described above (weighted according to the issuer’s stock market capitalization at the beginning of each period for which a return is indicated). The graph assumes that all dividends were reinvested. Historical stock price performance is not necessarily indicative of future stock price performance.
This performance graph shall not be deemed “filed” for purposes of Section 18 of the Exchange Act, or incorporated by reference into any Company filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
The following table provides the same information in tabular form as of June 30:
2015
2016
2017
2018
2019
2020
OSI Systems, Inc.
100.00
82.12
106.16
109.24
159.10
105.44
The Nasdaq Composite Index
100.00
98.32
126.14
155.91
168.04
213.32
Peer Group
100.00
98.91
130.22
161.43
181.96
177.22
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ITEM 6. SELECTED FINANCIAL DATA
The following tables set forth our selected consolidated financial data as of and for each of the five fiscal years ended June 30, 2020, and is derived from our consolidated financial statements. The consolidated financial statements as of June 30, 2019 and 2020, and for each of the years in the three-year period ended June 30, 2020, are included in Item 8 of this report. The following data should be read in conjunction with “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and the consolidated financial statements and notes thereto included elsewhere in this report.
Year Ended June 30,
2016
2017
2018
2019
2020
(in thousands, except earnings per share data)
Consolidated Statements of Operations Data:
Revenues
$
829,660
$
960,951
$
1,089,286
$
1,182,115
$
1,166,044
Cost of goods sold
552,801
637,450
697,634
751,521
745,405
Gross profit
276,859
323,501
391,652
430,594
420,639
Operating expenses:
Selling, general and administrative
166,655
192,560
239,592
262,484
251,961
Research and development
49,816
50,951
61,189
56,509
57,308
Impairment, restructuring and other charges
22,014
46,698
34,963
3,827
6,483
Total operating expenses
238,485
290,209
335,744
322,820
315,752
Income from operations
38,374
33,292
55,908
107,774
104,887
Interest and other expense, net
(2,879)
(7,541)
(19,054)
(21,610)
(18,765)
Income before income taxes
35,495
25,751
36,854
86,164
86,122
Provision for income taxes
(9,338)
(4,675)
(65,981)
(21,368)
(10,870)
Net income (loss)
$
26,157
$
21,076
$
(29,127)
$
64,796
$
75,252
Basic earnings (loss) per common share
$
1.35
$
1.12
$
(1.57)
$
3.58
$
4.14
Diluted earnings (loss) per common share
$
1.30
$
1.07
$
(1.57)
$
3.46
$
4.05
Weighted average shares outstanding—diluted
20,076
19,689
18,592
18,720
18,600
June 30,
2016
2017
2018
2019
2020
(in thousands)
Consolidated Balance Sheet Data:
Cash and cash equivalents
$
104,370
$
169,650
$
84,814
$
96,316
$
76,102
Working capital
187,483
306,866
207,375
258,891
287,608
Total assets
991,723
1,230,087
1,255,691
1,264,864
1,268,541
Long‑term debt
6,054
241,750
248,980
257,752
267,072
Total debt
133,813
347,146
364,242
346,556
326,998
Total stockholders’ equity
540,846
569,213
489,436
551,727
572,152
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