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Pro-Dex Inc. (NASDAQ: PDEX) is a prominent player in the medical and dental device sector, with over 40 years of expertise. The company specializes in the design, development, and manufacture of autoclavable, battery-powered, and electric multi-function surgical drivers and shavers, which are primarily used in orthopedic, thoracic, and maxocranial facial markets. Pro-Dex's innovative products also include rotary air motors and multi-axis motion control systems that cater to factory automation and scientific research markets.
Pro-Dex is renowned for its precision engineering, electro-mechanical assembly, components, sub-assemblies, and finished products, serving some of the world's largest providers of medical and dental devices. The company's significant achievements include the development of patented adoptive torque-limiting software and proprietary sealing solutions, which are highly appreciated by medical device distributors globally.
In addition to its robust product line, Pro-Dex offers comprehensive consulting and engineering services. These services range from mechanical, electrical, and manufacturing engineering support to quality and regulatory consulting. This diversification has allowed Pro-Dex to expand its engineering services division significantly, providing powerful solutions and staffing support for various industries.
Financially, Pro-Dex has shown resilience and growth. The fiscal year ended June 30, 2023, saw a 10% increase in net sales to $46.0 million, up from $42.0 million the previous year. The company's net income also surged to $7.1 million, or $1.95 per diluted share, a significant rise from $4.6 million, or $1.21 per diluted share, in fiscal 2022. These gains were driven by an enhanced repair program and increased NRE and prototype services.
Pro-Dex's CEO, Richard L. Van Kirk, has expressed optimism about the company's growth prospects. The recent operationalization of their Franklin facility is expected to double their capacity, reflecting in a record backlog of $41.6 million as of June 30, 2023. The company’s strategic initiatives include executing distribution agreements and launching new product lines, such as the thoracic driver.
Pro-Dex continues to innovate and adapt, staying resilient against market challenges like pandemics and recessions. The company's commitment to delivering high-quality products and services on time has solidified its reputation in the medical device industry, making it a reliable partner for medical engineering labs and hospitals worldwide.
To stay updated on Pro-Dex's latest news and developments, visit their website at www.pro-dex.com.
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.
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