Welcome to our dedicated page for Pro-Dex Colo news (Ticker: PDEX), a resource for investors and traders seeking the latest updates and insights on Pro-Dex Colo stock.
Pro-Dex, Inc. (NASDAQ: PDEX) is a surgical and medical instrument manufacturer that focuses on autoclavable, battery-powered, and electric multi-function surgical drivers and shavers used mainly in the orthopedic, thoracic, and maxocranial facial markets. The Pro-Dex news stream on this page aggregates company-issued press releases and other coverage so readers can follow how its powered surgical instrument business develops over time.
Company news frequently centers on financial results and operating performance. Pro-Dex regularly announces quarterly and annual results, often highlighting changes in net sales, gross profit, operating income, and the impact of product mix and costs such as tariffs. These updates commonly explain how shipments of next generation orthopedic handpieces, repair revenue for legacy handpieces, and sales of thoracic drivers contribute to revenue trends, especially in relation to the company’s largest customer.
Another recurring theme in Pro-Dex news is customer and contract activity. The company has reported contract amendments and extensions with its largest customer, including multi-year extensions with minimum purchase volumes. Releases also discuss enhanced repair programs for orthopedic handpieces and the ramp-up of production shipments for new generations of devices.
Pro-Dex news items may also cover corporate governance and capital matters, such as proxy statements, annual shareholder meetings, equity incentive plan amendments, and executive or director compensation decisions disclosed via Form 8-K. In addition, the company has issued communications clarifying that its Nasdaq-listed common stock under the symbol PDEX is not affiliated with Polkadex, which uses the same symbol on certain crypto exchanges.
Investors and followers of PDEX can use this page to review a chronological record of Pro-Dex announcements, including earnings releases, contract updates, and governance disclosures, all in one place.
Pro-Dex, Inc. (NasdaqCM:PDEX) reported its fiscal 2023 second-quarter financial results for the period ended December 31, 2022. Net sales rose by $1.1 million (11%) to $11.3 million, driven by increased sales and repair revenue from orthopedic surgical handpieces. However, gross profit decreased by $781,000 (23%) to $2.6 million due to rising component costs and higher repair expenses. Operating expenses decreased by $316,000 (18%) to $1.5 million. Net income for the quarter was $879,000 ($0.24 per diluted share), a slight drop from $925,000 ($0.25 per diluted share) in the previous year. The company anticipates growth as operations commence at its new facility.
Pro-Dex, Inc. (NASDAQ:PDEX) reported a Q1 fiscal 2023 net sales increase to $11.1 million, up 11% from $10.0 million in Q1 fiscal 2022. This growth was attributed to a $0.8 million rise in surgical handpiece repairs and a $0.7 million boost in NRE and prototype sales. However, medical device sales dipped by $397,000. The gross profit fell by 14% to $2.99 million, yielding a gross margin decrease to 27%. Net income remained stable at $1.1 million, with earnings per diluted share rising to $0.29. The FDA has authorized manufacturing at the Franklin facility, and negotiations with the largest customer are expected to yield further revenue.
Pro-Dex, Inc. (NasdaqCM:PDEX) reported its fiscal 2022 fourth quarter and full-year results on August 25, 2022, showing a 34% increase in quarterly net sales to $12.6 million. Annual net sales rose 11% to $42.0 million, driven mainly by orthopedic device sales. However, gross profit decreased 3% year-over-year to $13.1 million, while net income for the year was $3.9 million, down from $5.8 million. Operating expenses decreased 12% due to reduced R&D costs. Supply chain disruptions were noted, but the company remains optimistic about future growth.
Pro-Dex reported Q3 fiscal 2022 results, revealing a 21% decline in net sales, totaling $9.3 million, primarily due to decreased thoracic driver sales. Gross profit fell 35% to $2.9 million, attributed to increased component costs amid supply chain challenges. Operating expenses decreased 27% to $1.9 million. Net income dropped 78% to $462,000 or $0.12 per diluted share. However, year-to-date sales increased 3% to $29.4 million. CEO Van Kirk expressed optimism for Q4, citing a healthy backlog and secured components.
Pro-Dex, Inc. (NASDAQ:PDEX) reported a robust fiscal 2022 second quarter with net sales up 23% to $10.2 million, driven by orthopedic surgical handpiece sales. Gross profit rose 31% to $3.4 million, and operating expenses declined by 13% to $1.8 million. However, net income fell to $925,000 ($0.25 per diluted share) compared to $1.8 million ($0.44) from the same quarter last year. Looking ahead, Pro-Dex warns of supply chain challenges that could reduce net sales in the upcoming quarters but remains optimistic about long-term prospects.
FAQ
What is the current stock price of Pro-Dex Colo (PDEX)?
What is the market cap of Pro-Dex Colo (PDEX)?
