Pro-Dex, Inc. reports developments tied to its design, development, and manufacture of powered surgical instruments, including autoclavable, battery-powered and electric multi-function surgical drivers and shavers used primarily in orthopedic, thoracic, and maxocranial facial markets. Company updates frequently address shipments of orthopedic handpieces, repair revenue, CMF drivers and batteries, engineering and regulatory services, and customer concentration around its largest medical-device customer.
Recurring news also includes quarterly operating results, contract amendments, product mix, manufacturing capacity, and corporate actions. The completed acquisition of Advanced Precision Machining LLC added a wholly owned machining subsidiary that produces machined components and sub-assemblies for medical device, aerospace, and defense-related customers.
Pro-Dex, Inc. (NASDAQ:PDEX) reported a significant increase in net sales for Q4 2020, rising 59% to $11.1 million, attributed to new product launches and a $1.7 million increase in revenue from its largest customer. Gross profit surged 69%, reaching $4.3 million, while net income rose to $2.5 million, or $0.64 per diluted share. For the fiscal year, net sales were up 28% at $34.8 million, with net income increasing to $6.1 million. Operating expenses also grew by 27%, reflecting higher personnel costs. The company maintains a cautious outlook amid the ongoing COVID-19 pandemic.