Pro-Dex Inc Colo Stock Price, News & Analysis

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.

Pro-Dex, Inc. (NasdaqCM:PDEX) reported a 16% increase in net sales for Q1 fiscal 2022, totaling $10.0 million compared to $8.6 million in Q1 2021. The growth stemmed from higher sales of surgical handpieces and CMF drivers, though sales of a thoracic driver decreased. Gross profit fell by $47,000, with a margin of 34% down from 40%. Operating expenses rose $184,000, while net income decreased to $1.1 million, or $0.28 per share. The company is advancing internal projects and preparing to relocate employees to a new facility.