Pro-Dex, Inc. Announces Fiscal 2023 Third Quarter and Nine-Month Results
Pro-Dex, Inc. Announces Fiscal 2023 Third Quarter and Nine-Month Results
IRVINE, CA / ACCESSWIRE / May 4, 2023 / PRO-DEX, INC. (NASDAQ:PDEX) today announced financial results for its fiscal 2023 third quarter ended March 31, 2023. The Company also filed its Quarterly Report on Form 10-Q for the third quarter of fiscal year 2023 with the Securities and Exchange Commission today.
加利福尼亚州欧文/ACCESSWIRE/2023年5月4日/Pro-DEX，Inc.纳斯达克股票代码：PDEX)今天公布了截至2023年3月31日的2023财年第三季度财务业绩。该公司今天还向美国证券交易委员会提交了2023财年第三季度的Form 10-Q季度报告。
Quarter Ended March 31, 2023
截至2023年3月31日的季度
Net sales for the three months ended March 31, 2023, increased $3.8 million, or 41%, to $13.1 million from $9.3 million for the three months ended March 31, 2022, due primarily to increased repair revenue of $3.2 million related to an enhanced repair program launched this fiscal year to upgrade the handpiece we sell our largest customer to its most current generation.
截至2023年3月31日的三个月，净销售额增加了380万美元，增幅为41%，从截至2022年3月31日的三个月的930万美元增加到1310万美元，这主要是由于本财年推出的增强维修计划增加了320万美元的维修收入，该计划旨在将我们向最大客户销售的手机升级到其最新一代。
Gross profit for the three months ended March 31, 2023, increased $953,000, or 33%, to $3.8 million from $2.9 million for the same period in fiscal 2022. The gross profit increase is consistent with our increase in net sales and is benefited by our resolution and agreement with our largest customer related to previously upgraded repairs. Additionally, we have continued to experience higher costs across much of our supply chain.
截至2023年3月31日的三个月，毛利润从2022财年同期的290万美元增加到380万美元，增幅为953,000美元，增幅为33%。毛利润的增长与我们净销售额的增长一致，并受益于我们与最大客户就以前升级的维修达成的决心和协议。此外，我们的供应链大部分环节的成本都在继续上升。
Operating expenses (which include selling, general and administrative, and research and development expenses) for the quarter ended March 31, 2023, decreased slightly, by 5%, compared to the same period in fiscal 2022 mostly due to reduced general and administration expenses.
与2022财年同期相比，截至2023年3月31日的季度的运营费用(包括销售、一般和行政费用以及研发费用)略有下降，降幅为5%，主要是由于一般和行政费用的减少。
Net income for the quarter ended March 31, 2023, was $1.3 million, or $0.36 per diluted share, compared to $462,000, or $0.12 per diluted share, for the corresponding quarter in fiscal 2022.
截至2023年3月31日的季度，净收益为130万美元，或每股稀释后收益0.36美元，而2022财年同期为46.2万美元，或每股稀释后收益0.12美元。
Nine Months Ended March 31, 2023
截至2023年3月31日的9个月
Net sales for the nine months ended March 31, 2023, increased $6.0 million, or 20%, to $35.4 million from $29.4 million for the nine months ended March 31, 2022, due to increased repair revenue of $4.3 million related to the enhanced repair program described above, as well as an increase of $1.5 million in billable non-recurring engineering projects.
截至2023年3月31日的9个月，净销售额从截至2022年3月31日的9个月的2,940万美元增加到3,540万美元，增幅为20%，这是由于与上述增强维修计划相关的维修收入增加了430万美元，以及可收费的非经常性工程项目增加了150万美元。
Gross profit for the nine months ended March 31, 2023, decreased $299,000, or 3%, compared to the same period in fiscal 2022. The gross profit decline for the nine months ended March 31, 2023, is due in part to the enhanced repair program described above, which includes the advance replacement of many costly components of the handpiece, as well as higher costs across much of our supply chain.
截至2023年3月31日的9个月，毛利润与2022财年同期相比下降了29.9万美元，降幅为3%。截至2023年3月31日的9个月，毛利润下降的部分原因是上述增强维修计划，其中包括预先更换手机的许多昂贵部件，以及我们供应链中大部分成本的上升。
Operating expenses (which include selling, general and administrative, and research and development expenses) for the nine months ended March 31, 2023, decreased 9% to $5.2 million from $5.7 million in the prior fiscal year's corresponding period, mostly due to reduced non-cash stock based compensation expense recorded in general and administrative expenses.
截至2023年3月31日的9个月，营业费用(包括销售、一般和行政以及研发费用)从上一财年同期的570万美元下降到520万美元，降幅为9%，主要是由于一般和行政费用中记录的非现金股票薪酬费用减少。
Net income for the nine months ended March 31, 2023 was $3.3 million, or $0.89, per diluted share, compared to $2.5 million, or $0.65 per diluted share, for the corresponding period in fiscal 2022.
截至2023年3月31日的9个月的净收益为330万美元，或每股稀释后收益0.89美元，而2022财年同期为250万美元，或每股稀释后收益0.65美元。
CEO Comments
CEO评论
"We are pleased with our third quarter results, as we continue to demonstrate our ability to grow revenue while controlling operating expenses," said the Company's President and Chief Executive Officer, Richard L. ("Rick") Van Kirk. "We are tracking toward another record fiscal year from a revenue perspective, and we expect to have completed the transfer of all of our assembly and repairs operations to the Franklin facility in the fourth quarter."
该公司的总裁兼首席执行官理查德·L·范·柯克说：“我们对第三季度的业绩感到满意，因为我们继续证明我们有能力在控制运营费用的同时增加收入。”从收入的角度来看，我们正朝着另一个创纪录的财政年度前进，我们预计将在第四季度完成将我们所有的组装和维修业务转移到富兰克林工厂。“
About Pro-Dex, Inc.:
Pro-Dex公司简介：
Pro-Dex, Inc. specializes in the design, development, and manufacture of autoclavable, battery-powered and electric, multi-function surgical drivers and shavers used primarily in the orthopedic, thoracic, and maxocranial facial markets. We have patented adoptive torque-limiting software and proprietary sealing solutions which appeal to our customers, primarily medical device distributors. Pro-Dex also manufactures and sells rotary air motors to a wide range of industries. Pro-Dex's products are found in hospitals and medical engineering labs around the world. For more information, visit the Company's website at .
Pro-Dex，Inc.专门设计、开发和制造主要用于整形外科、胸部和颌面部市场的高压灭菌、电池供电和电动多功能外科驱动和剃须刀。我们拥有专利采用的扭矩限制软件和专有的密封解决方案，吸引了我们的客户，主要是医疗器械分销商。Pro-Dex还向各行各业制造和销售旋转空气马达。Pro-Dex的产品遍布世界各地的医院和医学工程实验室。欲了解更多信息，请访问公司网站：。
Statements herein concerning the Company's plans, growth, and strategies may include 'forward-looking statements' within the context of the federal securities laws. Statements regarding the Company's future events, developments, and future performance, (including, but not limited to, the anticipated commencement of operations at the Franklin facility and expected fiscal year revenue), as well as management's expectations, beliefs, plans, estimates, or projections relating to the future, are forward-looking statements within the meaning of these laws. The Company's actual results may differ materially from those suggested as a result of various factors. Interested parties should refer to the disclosure concerning the operational and business concerns of the Company set forth in the Company's filings with the Securities and Exchange Commission.
本文中有关公司计划、增长和战略的陈述可能包括符合联邦证券法的“前瞻性陈述”。有关公司未来事件、发展和未来业绩的陈述(包括但不限于富兰克林工厂的预期开始运营和预期的财政年度收入)，以及管理层对未来的预期、信念、计划、估计或预测，均属前瞻性陈述，符合这些法律的定义。由于各种因素，该公司的实际结果可能与建议的结果大不相同。感兴趣的各方应参考公司提交给证券交易委员会的文件中关于公司运营和业务问题的披露。
(tables follow)
(各表如下)
PRO-DEX, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(In thousands, except share amounts)
Pro-DEX，Inc.及附属公司
简明合并资产负债表
(未经审计)
(单位为千，不包括份额)
|
March 31, 2023 |
June 30,
2022
|
|||||||
ASSETS |
||||||||
Current Assets: |
||||||||
Cash and cash equivalents............................................... |
$ | 2,088 | $ | 849 | ||||
Investments.................................................................... |
1,149 | 755 | ||||||
Accounts receivable, net of allowance for doubtful accounts of $2 and $0 at March 31, 2023 and at June 30, 2022, respectively................................................. |
10,565 | 15,384 | ||||||
Deferred costs............................................................... |
279 | 710 | ||||||
Inventory....................................................................... |
15,145 | 12,678 | ||||||
Prepaid expenses and other current assets........................ |
1,919 | 790 | ||||||
Total current assets..................................................... |
31,145 | 31,166 | ||||||
Land and building, net........................................................ |
6,273 | 6,343 | ||||||
Equipment and leasehold improvements, net........................ |
5,162 | 4,833 | ||||||
Right of use asset, net......................................................... |
1,968 | 2,248 | ||||||
Intangibles, net.................................................................. |
87 | 118 | ||||||
Deferred income taxes, net................................................. |
764 | 797 | ||||||
Investments....................................................................... |
1,534 | 1,779 | ||||||
Other assets....................................................................... |
42 | 42 | ||||||
Total assets.................................................................... |
$ | 46,975 | $ | 47,326 | ||||
LIABILITIES AND SHAREHOLDERS' EQUITY |
||||||||
Current Liabilities: |
||||||||
Accounts payable........................................................... |
$ | 3,068 | $ | 3,761 | ||||
Accrued expenses........................................................... |
2,425 | 2,751 | ||||||
Deferred revenue............................................................ |
57 | 1,013 | ||||||
Income taxes payable...................................................... |
1,480 | 544 | ||||||
Note payable.................................................................. |
3,114 | 3,285 | ||||||
Total current liabilities................................................ |
10,144 | 11,354 | ||||||
Lease liability, net of current portion.................................. |
1,745 | 2,054 | ||||||
Notes payable, net of current portion.................................. |
9,247 | 10,250 | ||||||
Total non-current liabilities......................................... |
10,992 | 12,304 | ||||||
Total liabilities............................................................... |
21,136 | 23,658 | ||||||
Shareholders' equity: |
||||||||
Common shares; no par value; 50,000,000 shares authorized; 3,545,309 and 3,596,131 shares issued and outstanding at March 31, 2023 and June 30, 2022, respectively................................................................ |
6,585 | 7,682 | ||||||
Retained earnings .......................................................... |
19,254 | 15,986 | ||||||
Total shareholders' equity........................................... |
25,839 | 23,668 | ||||||
Total liabilities and shareholders' equity................... |
$ | 46,975 | $ | 47,326 | ||||
|
3月31日， 2023年 |
6月30日，
2022年
|
|||||||
资产 |
||||||||
流动资产： |
||||||||
现金和现金equivalents............................................... |
$ | 2088 | $ | 849 | ||||
Investments.................................................................... |
1149 | 七百五十五 | ||||||
2023年3月31日和2022年6月30日的应收账款，扣除坏账准备2美元和0美元，respectively................................................. |
10,565 | 15,384 | ||||||
延迟costs............................................................... |
二百七十九 | 七百一十 | ||||||
Inventory....................................................................... |
15,145 | 12,678 | ||||||
预付开支及其他流动资产...... |
1,919 | 七百九十 | ||||||
总当前assets..................................................... |
31,145 | 31,166 | ||||||
土地和建筑，net........................................................ |
6,273 | 6,343 | ||||||
设备和租赁改进，净额. |
5162 | 4833 | ||||||
使用权资产，net......................................................... |
1968年 | 2248 | ||||||
无形资产，net.................................................................. |
八十七 | 一百一十八 | ||||||
递延所得税，net................................................. |
七百六十四 | 797 | ||||||
Investments....................................................................... |
1,534 | 1779 | ||||||
其他assets....................................................................... |
42 | 42 | ||||||
总assets.................................................................... |
$ | 46,975 | $ | 47326 | ||||
负债和股东权益 |
||||||||
流动负债： |
||||||||
Account payable........................................................... |
$ | 3,068 | $ | 3761 | ||||
应计expenses........................................................... |
2425 | 2751 | ||||||
延迟revenue............................................................ |
57 | 1,013 | ||||||
所得税payable...................................................... |
1480 | 544 | ||||||
注：payable.................................................................. |
3,114 | 3,285 | ||||||
总当前liabilities................................................ |
10,144 | 11,354 | ||||||
租赁负债，扣除当前部分后的净额...... |
1,745 | 2054 | ||||||
应付票据，扣除当期部分后的净额...... |
9247 | 10,250 | ||||||
非当前liabilities.........................................总数 |
10,992 | 12,304 | ||||||
总liabilities............................................................... |
21,136 | 23,658 | ||||||
股东权益： |
||||||||
普通股；无面值；授权发行5,000,000股；于2023年3月31日和2022年6月30日发行和发行的3,545,309股和3,596,131股，respectively................................................................ |
6585 | 7682 | ||||||
留存收益.......................................................... |
19,254 | 15,986 | ||||||
股东总equity........................................... |
25,839 | 23,668 | ||||||
总负债及股东权益总额. |
$ | 46,975 | $ | 47326 | ||||
PRO-DEX, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED INCOME STATEMENTS
(Unaudited)
(In thousands, except per share amounts)
Pro-DEX，Inc.及附属公司
简明合并损益表
(未经审计)
(以千为单位，每股除外)
|
Three Months Ended March 31, |
Nine Months Ended March 31, |
|||||||||||||||
| 2023 | 2022 | 2023 | 2022 | |||||||||||||
Net sales................................................................. |
$ | 13,079 | $ | 9,265 | $ | 35,448 | $ | 29,426 | ||||||||
Cost of sales .......................................................... |
9,268 | 6,407 | 26,058 | 19,737 | ||||||||||||
Gross profit............................................................. |
3,811 | 2,858 | 9,390 | 9,689 | ||||||||||||
|
Operating expenses:
Selling expenses.....................................................
|
24 | 20 | 146 | 79 | ||||||||||||
General and administrative expenses................... |
1,009 | 1,145 | 2,983 | 3,402 | ||||||||||||
Loss on disposal of equipment.............................. |
- | 14 | - | 14 | ||||||||||||
Research and development costs.......................... |
713 | 658 | 2,109 | 2,254 | ||||||||||||
Total operating expenses....................................... |
1,746 | 1,837 | 5,238 | 5,749 | ||||||||||||
Operating income................................................... |
2,065 | 1,021 | 4,152 | 3,940 | ||||||||||||
Interest expense...................................................... |
(131 | ) | (112 | ) | (389 | ) | (349 | ) | ||||||||
Unrealized gain (loss) on marketable equity investments........................................................ |
(177 | ) | (275 | ) | 231 | (427 | ) | |||||||||
Interest and other income...................................... |
11 | - | 235 | 50 | ||||||||||||
Gain on sale of investments.................................. |
- | - | 7 | - | ||||||||||||
Income before income taxes................................. |
1,768 | 634 | 4,236 | 3,214 | ||||||||||||
Income tax expense............................................... |
(455 | ) | (172 | ) | (968 | ) | (764 | ) | ||||||||
Net income............................................................. |
$ | 1,313 | $ | 462 | $ | 3,268 | $ | 2,450 | ||||||||
Basic net income per share: |
||||||||||||||||
Net income......................................................... |
$ | 0.37 | $ | 0.13 | $ | 0.91 | $ | 0.67 | ||||||||
Diluted net income per share: |
||||||||||||||||
Net income........................................................ |
$ | 0.36 | $ | 0.12 | $ | 0.89 | $ | 0.65 | ||||||||
Weighted average common shares outstanding: |
||||||||||||||||
Basic................................................................... |
3,548 | 3,626 | 3,580 | 3,645 | ||||||||||||
Diluted................................................................ |
3,623 | 3,749 | 3,656 | 3,774 | ||||||||||||
Common shares outstanding................................. |
3,545 | 3,618 | 3,545 | 3,618 | ||||||||||||
|
截至三个月 3月31日， |
九个月结束 3月31日， |
|||||||||||||||
| 2023年 | 2022年 | 2023年 | 2022年 | |||||||||||||
Net sales................................................................. |
$ | 13,079 | $ | 9265 | $ | 35,448 | $ | 29,426 | ||||||||
销售成本.......................................................... |
9268 | 6,407 | 26,058 | 19737 | ||||||||||||
总profit............................................................. |
3811 | 2858 | 9390 | 9689 | ||||||||||||
|
运营费用：
销售expenses.....................................................
|
24个 | 20个 | 146 | 79 | ||||||||||||
一般及行政开支......... |
1009 | 1145 | 2983 | 3,402 | ||||||||||||
处置设备损失. |
- | 14. | - | 14. | ||||||||||||
研究及发展费用.. |
七百一十三 | 658 | 2109 | 2,254 | ||||||||||||
总运营expenses....................................... |
1,746 | 1,837 | 5,238 | 5749 | ||||||||||||
操作income................................................... |
2065 | 1,021 | 4,152 | 3940 | ||||||||||||
利息expense...................................................... |
(131) | ) | (112) | ) | (389 | ) | (349 | ) | ||||||||
可流通权益investments........................................................的未实现收益(亏损) |
(177 | ) | (275 | ) | 二百三十一 | (427) | ) | |||||||||
利息及其他收入...... |
11. | - | 235 | 50 | ||||||||||||
出售投资的收益......... |
- | - | 7. | - | ||||||||||||
未计入息税前收入..................... |
1768 | 634 | 4236 | 3214 | ||||||||||||
所得税expense............................................... |
(455 | ) | (172 | ) | (968) | ) | (764) | ) | ||||||||
Net income............................................................. |
$ | 1,313 | $ | 四百六十二 | $ | 3268 | $ | 2450 | ||||||||
每股基本净收入： |
||||||||||||||||
Net income......................................................... |
$ | 0.37 | $ | 0.13 | $ | 0.91 | $ | 0.67 | ||||||||
稀释后每股净收益： |
||||||||||||||||
Net income........................................................ |
$ | 0.36 | $ | 0.12 | $ | 0.89 | $ | 0.65 | ||||||||
加权平均已发行普通股： |
||||||||||||||||
Basic................................................................... |
3548 | 3626 | 3580 | 3645 | ||||||||||||
Diluted................................................................ |
3623 | 3749 | 3656 | 3774 | ||||||||||||
已发行普通股..................... |
3545 | 3618 | 3545 | 3618 | ||||||||||||
CONTACT:
Richard L. Van Kirk, Chief Executive Officer
(949) 769-3200
联系方式：
首席执行官理查德·L·范·柯克
(949)769-3200
SOURCE: Pro-Dex, Inc.
资料来源：Pro-Dex，Inc.