PRO-DEX, Inc. Issues 8-K Filing Detailing Fiscal 2025 First Quarter Financial Performance

Pro-Dex, Inc. (NASDAQ: PDEX) recently disclosed its financial results for the first fiscal quarter and three months ending September 30, 2024, through an 8-K form filed with the Securities and Exchange Commission. The company provided information regarding its operations and financial condition in the document, which included the accompanying press release attached to it.

According to the report, for the quarter ending September 30, 2024, Pro-Dex saw a notable increase in net sales, which reached $14.9 million, marking a 25% rise from the prior comparable period. This upsurge was primarily influenced by increased repairs of surgical handpieces sold to its largest customer, along with the shipment of the customer’s next-generation handpiece for a limited market release.

Gross profit for the same quarter in 2024 also demonstrated a significant increase of $1.5 million, a rise of 41% compared to the previous year. Additionally, the operating income for the quarter soared to $3.0 million, showcasing a 64% increase from the corresponding period in the prior fiscal year.

Pro-Dex, Inc. reported a net income of $2.5 million for the quarter ending September 30, 2024, translating to earnings of $0.75 per diluted share. This marked a stark improvement compared to a net loss of $615,000, or $0.17 per diluted share, reported for the same quarter in 2023. The company highlighted that the net income for the quarter included unrealized gains on its marketable equity investments, while the prior-year loss included unrealized losses on investments, indicating a positive trend.

Commenting on the results, Pro-Dex’s CEO, Richard L. Van Kirk, expressed satisfaction with the first quarter performance and highlighted the successful shipment of the next-generation handpiece to their largest customer. Van Kirk further noted the company’s expectations to increase production volumes of the new handpiece in the latter part of the fiscal year.

Pro-Dex, Inc. specializes in designing, developing, and manufacturing surgical drivers and shavers primarily used in orthopedic, thoracic, and maxocranial facial markets. The company’s products are known for their innovative features such as autoclavable, battery-powered and electric, multi-function functionalities and have applications in medical engineering labs and hospitals worldwide.

Investors and interested parties are encouraged to refer to the full 8-K filing for additional details on Pro-Dex, Inc.’s financial performance alongside its forward-looking statements and operational strategies.

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The above article is a factual representation of the 8-K SEC filing submitted by Pro-Dex and should not be considered an endorsement or investment advice.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Pro-Dex’s 8K filing here.

Pro-Dex Company Profile

Pro-Dex, Inc designs, develops, manufactures, and sells powered surgical instruments for medical device original equipment manufacturers worldwide. The company offers autoclavable, battery-powered and electric, and multi-function surgical drivers and shavers that are primarily used in the orthopedic, thoracic, and craniomaxillofacial markets.