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Pro-Dex Inc (PDEX) delivers precision-engineered medical devices and motion control systems for surgical and industrial applications. This news hub provides investors and industry professionals with authoritative updates on the company’s latest developments.
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Pro-Dex (PDEX) reported strong financial results for Q2 FY2025. Net sales increased 33% to $16.8 million, driven by $3.1 million in shipments of next-generation orthopedic handpieces and $1.6 million increase in repair revenue from their largest customer.
Gross profit rose 81% to $5.1 million, with gross margin improving by 8 percentage points to 30%. Operating income surged 247% to $2.7 million, while net income reached $2.0 million ($0.61 per diluted share), up from $500,000 ($0.14 per diluted share) in Q2 FY2024.
For the six-month period, net sales grew 29% to $31.7 million, with net income of $4.5 million ($1.33 per diluted share), compared to a net loss of $115,000 in the prior year period. The company expects continued revenue growth in Q3 and Q4 due to ongoing production shipments of the next-generation handpiece.
Pro-Dex (NASDAQ:PDEX) reported strong financial results for Q1 FY2025. Net sales increased 25% to $14.9 million, driven by increased repairs and shipment of next-generation handpiece. Gross profit rose 41% with margin expanding to 35%. Operating income grew 64% to $3.0 million. Net income improved to $2.5 million ($0.75 per diluted share) from a net loss of $615,000 in the prior year. The company expects to ship production volumes of the new handpiece during second half of fiscal year.
Pro-Dex (NASDAQ:PDEX) reported strong financial results for Q4 and FY 2024. Q4 net sales increased 41% to $15.0 million, driven by a $3.4 million revenue boost from their largest customer. Q4 operating income rose 46% to $2.4 million. FY 2024 net sales grew 17% to $53.8 million, with operating income up 25% to $7.2 million. However, net income for FY 2024 decreased to $2.1 million ($0.60 per diluted share) from $7.1 million in FY 2023, primarily due to unrealized losses on marketable equity investments. The company highlighted successful growth despite transitioning to a multiple-facility operation and announced the hiring of a new Director of Operations to support future expansion.
Pro-Dex, Inc. reported strong fiscal 2024 third quarter and nine-month results with increases in net sales and operating income. However, net income declined due to unrealized losses on marketable equity investments. The company remains optimistic about future growth.
