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Company Overview
Pro-Dex Inc (PDEX) is a technologically advanced firm specializing in the design, development, and manufacture of autoclavable surgical drivers, shavers, and multi-axis motion control systems. With over 40 years of collaboration with some of the world’s largest medical and dental device providers, the company has honed a reputation for precision engineering and high-quality manufacturing. Its products are engineered to serve the stringent requirements of the orthopedic, thoracic, and craniomaxillofacial surgical markets, as well as industrial and research applications, thereby establishing a strong foothold in multiple specialized sectors.
Core Business Areas
Pro-Dex Inc operates primarily within two interrelated divisions:
- Medical Device Manufacturing: The company excels in creating battery-powered and electric surgical drivers and shavers. These devices are built with cutting-edge features, including patented adoptive torque-limiting software and proprietary sealing solutions, ensuring performance and safety in critical surgical settings.
- Engineering and Automation Services: Beyond product manufacturing, Pro-Dex offers comprehensive engineering support, including precision machining, fabrication, and electro-mechanical assembly. The company also develops multi-axis motion control systems that are central to industrial automation and scientific research.
Technical Expertise and Innovation
Leveraging advanced engineering design principles, Pro-Dex Inc delivers robust and reliable solutions tailored to both complete products and collaborative projects. Its engineering services extend from consulting and product development to staffing and manufacturing support, ensuring that clients receive thorough, end-to-end solutions. This technical expertise, combined with innovative manufacturing techniques, positions the company as a trusted partner in meeting the rigorous demands of modern medical device production and industrial automation.
Market Position and Strategic Impact
Pro-Dex Inc has cultivated a distinct market position by focusing on quality, innovation, and technical precision. The company partners with major medical and dental device distributors worldwide, fostering long-term relationships built on engineering excellence and reliability. Within competitive niches, its integration of advanced features—such as autoclavable system designs and adaptive control mechanisms—enables it to meet strict regulatory standards while delivering high-performance solutions. This strategic positioning reinforces its authority in a market that values technical innovation and operational resilience.
Operational Excellence and Quality Assurance
Key to Pro-Dex Inc's success is a commitment to operational excellence and rigorous quality control. The company’s internal processes are designed to adhere to the highest industry standards, ensuring that every device produced meets critical safety and performance benchmarks. From initial design through to precision machining and final assembly, each step is meticulously executed, which not only boosts product reliability but also reinforces the trust placed in the brand by its partners and customers.
Industry Integration and Global Reach
Operating at the intersection of medical device manufacturing and industrial automation, Pro-Dex Inc bridges the gap between clinical precision and technical innovation. Its products are widely used in hospitals, medical laboratories, and industrial settings around the globe. This global reach, coupled with its ability to serve diverse market segments, underscores the company's versatility and robust technical capabilities in an evolving industry landscape.
Conclusion
Pro-Dex Inc stands as an exemplar of technical expertise and precision in both the medical device and automation industries. Through its integrated approach to product design, engineering services, and manufacturing excellence, the company consistently delivers innovations that meet specialized market needs. Its long-standing history, combined with a commitment to quality and advanced engineering solutions, makes Pro-Dex Inc an enduring, trusted partner within its field.
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.
Pro-Dex reported Q4 2021 net sales of $9.4 million, a 15% decrease from $11.1 million in Q4 2020, primarily due to lower medical device sales following two previous product launches. Gross profit fell by 27% to $3.1 million, driven by decreased sales and price concessions. Operating expenses increased by 21% to $2.5 million. Yearly results showed a 9% sales increase to $38 million, with a slight gross profit rise to $13.6 million. However, net income for the year decreased to $4.5 million from $6.1 million, attributed to higher operating expenses and R&D investments.
Pro-Dex reported a 38% increase in net sales for Q3 FY2021, reaching $11.7 million, driven by strong performance in thoracic drivers. Gross profit also rose 37% to $4.4 million. Net income increased to $2.0 million ($0.50 per diluted share) from $1.2 million ($0.30 per diluted share) year-over-year. However, operating expenses surged by 67% due to heightened investment in product development. For the nine months ended March 31, 2021, sales rose 21% to $28.6 million, with net income stable at $3.6 million. The CEO expressed pride in team performance amid challenges during the pandemic.
Pro-Dex, Inc. (NASDAQ:PDEX) reported a 4% increase in net sales for the second quarter of fiscal 2021, totaling $8.3 million, driven by new product sales. However, gross profit declined 9% to $2.6 million due to under-absorbed fixed manufacturing costs. Operating expenses surged 74% to $2.1 million as the company invested in R&D and administrative functions. Net income fell to $337,000 or $0.08 per diluted share, down from $1.2 million or $0.31 per diluted share a year earlier. Year-to-date net sales grew 11% to $16.9 million.
Pro-Dex reported a 19% increase in net sales for Q1 fiscal 2021, totaling $8.6 million, up from $7.2 million in Q1 fiscal 2020. The gross profit rose 25% to $3.5 million, with a gross margin of 40%. Operating expenses increased by $637,000, reflecting investments in R&D for new product launches. Net income for the quarter was $1.3 million, or $0.32 per diluted share, compared to $1.1 million or $0.27 in the prior year. CEO Richard Van Kirk expressed optimism about future product releases, including a new ENT shaver and CMF driver.
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