Today before the opening bell, OSI Systems reported a successful second quarter and six months ended December 31, 2008. For the second quarter of fiscal 2009, the company announced revenues of $159.0 million and net income of 4.2 million; this compares to $164.2 million in revenues and $3.5 million in net income reported for the same period of the previous year.

Deepak Chopra, OSI Systems’ Chairman and CEO, stated, “Despite being the most challenging economic environment in decades, our financial results for the second quarter of fiscal 2009 continue to demonstrate the earnings-generating potential of our businesses. We significantly improved earnings, generated record free cash flow of $15.5 million and ended the quarter with a record backlog. These achievements are the direct result of our initiatives over the past two years to implement organizational changes that have reduced our cost structure and improve our overall operating efficiencies.”

For the second