Pro-Dex, Inc. Announces Fiscal 2024 Third Quarter And Nine-Month Results
Pro-Dex, Inc. Announces Fiscal 2024 Third Quarter And Nine-Month Results
IRVINE, CA / ACCESSWIRE / May 2, 2024 / PRO-DEX, INC. (NASDAQ:PDEX) today announced financial results for its fiscal 2024 third quarter ended March 31, 2024. The Company also filed its Quarterly Report on Form 10-Q for the third quarter of fiscal year 2024 with the Securities and Exchange Commission today.
加利福尼亚州尔湾/ACCESSWIRE /2024 年 5 月 2 日/PRO-DEX, INC.纳斯达克股票代码：PDEX）今天公布了截至2024年3月31日的2024财年第三季度的财务业绩。该公司还于今天向美国证券交易委员会提交了2024财年第三季度的10-Q表季度报告。
Quarter Ended March 31, 2024
截至2024年3月31日的季度
Net sales for the three months ended March 31, 2024, increased $1.2 million, or 9%, to $14.3 million from $13.1 million for the three months ended March 31, 2023, due primarily to an increase in medical device product revenue of $2.8 million offset by a decrease in non-recurring engineering and repair revenue of $736,000 and $635,000 respectively.
截至2024年3月31日的三个月，净销售额从截至2023年3月31日的三个月的1,310万美元增长了120万美元，增长了9％，增幅为9％，这主要是由于医疗器械产品收入增长了280万美元，被非经常性工程和维修收入分别减少73.6万美元和63.5万美元所抵消。
Gross profit for the three months ended March 31, 2024, increased $191,000, or 5%, to $4.0 million from $3.8 million for the same period in fiscal 2023. While the gross profit increase is consistent with our increase in net sales, its percentage increase is comparatively lower than the percentage increase in net sales in part due to the mix of revenue generated in the quarter ended March 31, 2024, compared to the same period in fiscal 2023.
截至2024年3月31日的三个月，毛利从2023财年同期的380万美元增长了19.1万美元，增长了5％，至400万美元。尽管毛利增长与我们的净销售额增长一致，但其增长百分比相对低于净销售额的增长百分比，部分原因是截至2024年3月31日的季度与2023财年同期相比产生的收入组合。
Operating expenses (which include selling, general and administrative, and research and development expenses) for the quarter ended March 31, 2024, increased slightly, by 2%, compared to the same period in fiscal 2023 mostly due to increased research and development costs.
截至2024年3月31日的季度的运营支出（包括销售、一般和管理以及研发费用）与2023财年同期相比略有增长2％，这主要是由于研发成本的增加。
Our operating income for the quarter ended March 31, 2024, increased $148,000, or 7%, to $2.2 million compared to $2.1 million for the prior fiscal year's corresponding quarter. The increase reflects our increased sales and gross profit, as described above.
截至2024年3月31日的季度，我们的营业收入增长了14.8万美元，达到220万美元，增长了7％，而上一财年同期的营业收入为210万美元。如上所述，这一增长反映了我们的销售额和毛利润的增长。
Net income for the quarter ended March 31, 2024, was $655,000, or $0.19 per diluted share, compared to $1.6 million, or $0.45 per diluted share, for the corresponding quarter in fiscal 2023. Our net income for the three months ended March 31, 2024, contains unrealized losses on our marketable equity investments of $1.2 million while our net income for the three months ended March 31, 2023, contains unrealized gains on our marketable equity investments of $242,000. All of our investments are recorded at estimated fair value, and the valuation can be highly volatile.
截至2024年3月31日的季度净收益为65.5万美元，摊薄每股收益为0.19美元，而2023财年同期的净收益为160万美元，摊薄每股收益为0.45美元。截至2024年3月31日的三个月，我们的净收入包含120万美元的有价股权投资的未实现亏损，而截至2023年3月31日的三个月的净收入包含24.2万美元的有价股权投资的未实现收益。我们所有的投资均按估计的公允价值入账，估值可能波动很大。
Nine Months Ended March 31, 2024
截至2024年3月31日的九个月
Net sales for the nine months ended March 31, 2024, increased $3.4 million, or 10%, to $38.8 million from $35.4 million for the nine months ended March 31, 2023.The increase in sales relates to a $2.3 million increase in repair revenue related to the enhanced repair program we began last fiscal year to refurbish the orthopedic handpiece we sell to our largest customer, as well as an increase of $1.9 million in sales of new units to that same customer, and an increase in thoracic driver sales of $1.6 million offset by a decrease of $1.6 million in non-recurring engineering revenue and a decrease of $567,000 in CMF driver sales.
截至2024年3月31日的九个月净销售额从截至2023年3月31日的九个月的3540万美元增长了340万美元，增长了10％，至3,880万美元。销售额的增长与我们在上财年启动的强化维修计划相关的230万美元维修收入增长了230万美元，该计划旨在翻新我们出售给最大客户的整形外科手机，以及新设备的销售额增加了190万美元致同一客户，胸腔驱动器销售额的增长160万美元被非经常性销售额减少的160万美元所抵消工程收入，CMF司机销售额减少了567,000美元。
Gross profit for the nine months ended March 31, 2024, increased $1.1 million, or 11%, compared to the same period in fiscal 2023. The gross profit increase is consistent with the increase in revenue for the same period.
截至2024年3月31日的九个月中，毛利与2023财年同期相比增长了110万美元，增长了11％。毛利润的增长与同期收入的增长一致。
Operating expenses (which include selling, general and administrative, and research and development expenses) for the nine months ended March 31, 2024, increased 8% to $5.6 million from $5.2 million in the prior fiscal year's corresponding period, due to an increase in general and administrative expenses and research and development costs during the nine months ended March 31, 2024, compared to the corresponding period of the prior fiscal year.
截至2024年3月31日的九个月的运营费用（包括销售、一般和管理以及研发费用）从上一财年同期的520万美元增长了8％，至560万美元，这是由于截至2024年3月31日的九个月中一般和管理费用以及研发成本与上一财年同期相比有所增加。
Our operating income for the nine months ended March 31, 2024, increased $670,000, or 16%, to $4.8 million compared to $4.2 million for the corresponding period of the prior fiscal year. The increase in operating income is attributable to higher sales and gross profit offset by the higher operating expenses described above.
截至2024年3月31日的九个月中，我们的营业收入增长了67万美元，达到480万美元，增长了16％，而上一财年同期为420万美元。营业收入的增加归因于销售额的增加和毛利润的增加被上述较高的运营费用所抵消。
Net income for the nine months ended March 31, 2024, was $540,000, or $0.15 per diluted share, compared to $5.6 million, or $1.52 per diluted share, for the corresponding period in fiscal 2023. Our net income for the nine months ended March 31, 2024, contains unrealized losses on our marketable equity investments of $3.8 million and our net income for the nine months ended March 31, 2023, contains unrealized gains on our marketable equity investments of $3.4 million. All of our investments are recorded at estimated fair value, and the valuation can be highly volatile.
截至2024年3月31日的九个月净收益为54万美元，摊薄每股收益为0.15美元，而2023财年同期为560万美元，摊薄每股收益为1.52美元。截至2024年3月31日的九个月中，我们的净收入包含380万美元的有价股权投资的未实现亏损，截至2023年3月31日的九个月的净收入包含有价股权投资的340万美元未实现收益。我们所有的投资均按估计的公允价值入账，估值可能波动很大。
CEO Comments
首席执行官评论
"We are pleased with our third quarter operating results driven by consistent execution," 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 am confident in our ability to carry this momentum into fiscal 2025 and beyond."
该公司总裁兼首席执行官理查德·L.（“里克”）范柯克表示：“我们对持续执行推动的第三季度经营业绩感到满意。”“从收入的角度来看，我们正朝着又一个创纪录的财年迈进，我们有能力将这一势头延续到2025财年及以后。”
About Pro-Dex, Inc.:
关于 Pro-Dex, Inc.：
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、开发和制造可高压灭菌、电池供电和电动的多功能手术驱动器和剃须刀，主要用于整形外科、胸腔和上颌面部市场。我们拥有获得专利的采用性扭矩限制软件和专有的密封解决方案，这些解决方案吸引了我们的客户，主要是医疗器械分销商。Pro-Dex还为各行各业制造和销售旋转气动马达。Pro-Dex的产品在世界各地的医院和医学工程实验室中都可以找到。欲了解更多信息，请访问公司网站，网址为。
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, 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.
此处有关公司计划、增长和战略的陈述可能包括联邦证券法背景下的 “前瞻性陈述”。根据这些法律的定义，有关公司未来事件、发展和未来业绩（包括但不限于预期的财年收入）以及管理层对未来的预期、信念、计划、估计或预测的陈述，均为前瞻性陈述。由于各种因素，该公司的实际业绩可能与建议的业绩存在重大差异。有关各方应参阅公司向美国证券交易委员会提交的文件中列出的有关公司运营和业务问题的披露。
(tables follow)
（表格如下）
PRO-DEX, INC. AND SUBSIDIARY
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(In thousands, except share amounts)
PRO-DEX, INC.和子公司
简明的合并资产负债表
（未经审计）
（以千计，股票金额除外）
|
March 31, 2024 |
June 30,
2023
|
|||||||
ASSETS |
||||||||
Current Assets: |
||||||||
Cash and cash equivalents.......................................... |
$ | 3,219 | $ | 2,936 | ||||
Investments............................................................... |
4,577 | 1,134 | ||||||
Accounts receivable, net of allowance for expected credit losses of $1 and $0 at March 31, 2024 and at June 30, 2023, respectively..................................... |
12,516 | 9,952 | ||||||
Deferred costs........................................................... |
331 | 494 | ||||||
Inventory................................................................... |
14,242 | 16,167 | ||||||
Prepaid expenses and other current assets................... |
1,072 | 296 | ||||||
Total current assets................................................. |
35,957 | 30,979 | ||||||
Land and building, net................................................... |
6,179 | 6,249 | ||||||
Equipment and leasehold improvements, net................... |
5,191 | 5,079 | ||||||
Right of use asset, net.................................................... |
1,575 | 1,872 | ||||||
Intangibles, net.............................................................. |
61 | 81 | ||||||
Investments................................................................... |
1,543 | 7,521 | ||||||
Other assets................................................................... |
42 | 42 | ||||||
Total assets................................................................ |
$ | 50,548 | $ | 51,823 | ||||
LIABILITIES AND SHAREHOLDERS' EQUITY |
||||||||
Current Liabilities: |
||||||||
Accounts payable....................................................... |
$ | 3,435 | $ | 2,261 | ||||
Accrued expenses...................................................... |
2,701 | 3,135 | ||||||
Deferred revenue....................................................... |
35 | - | ||||||
Income taxes payable................................................. |
390 | 453 | ||||||
Note payable.............................................................. |
3,858 | 3,827 | ||||||
Total current liabilities............................................ |
10,419 | 9,676 | ||||||
Lease liability, net of current portion............................. |
1,299 | 1,638 | ||||||
Deferred income taxes, net........................................... |
8 | 8 | ||||||
Notes payable, net of current portion............................. |
7,884 | 8,911 | ||||||
Total non-current liabilities..................................... |
9,191 | 10,557 | ||||||
Total liabilities........................................................... |
19,610 | 20,233 | ||||||
Shareholders' equity: |
||||||||
Common shares; no par value; 50,000,000 shares authorized; 3,451,423 and 3,545,309 shares issued and outstanding at March 31, 2024 and June 30, 2023, respectively.................................................. |
5,575 | 6,767 | ||||||
Retained earnings ...................................................... |
25,363 | 24,823 | ||||||
Total shareholders' equity....................................... |
30,938 | 31,590 | ||||||
Total liabilities and shareholders' equity............... |
$ | 50,548 | $ | 51,823 | ||||
| 3月31日 2024 |
6月30日
2023
|
|||||||
资产 |
||||||||
流动资产： |
||||||||
现金和现金等价物... |
$ | 3,219 | $ | 2,936 | ||||
投资... |
4,577 | 1,134 | ||||||
应收账款，扣除截至2024年3月31日和2023年6月30日的预期信贷损失准备金分别为1美元和0美元... |
12,516 | 9,952 | ||||||
递延成本... |
331 | 494 | ||||||
库存... |
14,242 | 16,167 | ||||||
预付费用和其他流动资产... |
1,072 | 296 | ||||||
流动资产总额... |
35,957 | 30,979 | ||||||
土地和建筑物，网络... |
6,179 | 6,249 | ||||||
设备和租赁权益改进，净值... |
5,191 | 5,079 | ||||||
使用权资产，净额... |
1,575 | 1,872 | ||||||
无形资产，净资产... |
61 | 81 | ||||||
投资... |
1,543 | 7,521 | ||||||
其他资产... |
42 | 42 | ||||||
总资产... |
$ | 50,548 | $ | 51,823 | ||||
负债和股东权益 |
||||||||
流动负债： |
||||||||
应付账款... |
$ | 3,435 | $ | 2,261 | ||||
应计费用... |
2,701 | 3,135 | ||||||
递延收入... |
35 | - | ||||||
应付所得税... |
390 | 453 | ||||||
应付票据... |
3,858 | 3,827 | ||||||
流动负债总额... |
10,419 | 9,676 | ||||||
减去当期部分的租赁负债... |
1,299 | 1,638 | ||||||
递延所得税，净额... |
8 | 8 | ||||||
应付票据，扣除当期部分... |
7,884 | 8,911 | ||||||
非流动负债总额... |
9,191 | 10,557 | ||||||
负债总额... |
19,610 | 20,233 | ||||||
股东权益： |
||||||||
普通股；无面值；授权5000万股；截至2024年3月31日和2023年6月30日分别已发行和流通的3,451,423股和3,545,309股... |
5,575 | 6,767 | ||||||
留存收益... |
25,363 | 24,823 | ||||||
股东权益总额... |
30,938 | 31,590 | ||||||
负债总额和股东权益... |
$ | 50,548 | $ | 51,823 | ||||
PRO-DEX, INC. AND SUBSIDIARY
CONDENSED CONSOLIDATED INCOME STATEMENTS
(Unaudited)
(In thousands, except per share amounts)
PRO-DEX, INC.和子公司
简明合并损益表
（未经审计）
（以千计，每股金额除外）
|
Three Months Ended March 31, |
Nine Months Ended March 31, |
|||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| (restated) | (restated) | |||||||||||||||
Net sales................................................................. |
$ | 14,293 | $ | 13,079 | $ | 38,819 | $ | 35,448 | ||||||||
Cost of sales .......................................................... |
10,291 | 9,268 | 28,357 | 26,058 | ||||||||||||
Gross profit............................................................. |
4,002 | 3,811 | 10,462 | 9,390 | ||||||||||||
|
Operating expenses:
Selling expenses.....................................................
|
17 | 24 | 79 | 146 | ||||||||||||
General and administrative expenses................... |
1,012 | 1,009 | 3,208 | 2,983 | ||||||||||||
Research and development costs.......................... |
760 | 713 | 2,353 | 2,109 | ||||||||||||
Total operating expenses....................................... |
1,789 | 1,746 | 5,640 | 5,238 | ||||||||||||
Operating income................................................... |
2,213 | 2,065 | 4,822 | 4,152 | ||||||||||||
Interest expense...................................................... |
138 | 131 | 409 | 389 | ||||||||||||
Unrealized gain (loss) on marketable equity investments........................................................ |
(1,192) | 242 | (3,785) | 3,407 | ||||||||||||
Interest and other income...................................... |
30 | 11 | 76 | 235 | ||||||||||||
Gain on sale of investments.................................. |
- | - | - | 7 | ||||||||||||
Income before income taxes................................. |
913 | 2,187 | 704 | 7,412 | ||||||||||||
Income tax expense............................................... |
258 | 570 | 164 | 1,840 | ||||||||||||
Net income............................................................. |
$ | 655 | $ | 1,617 | $ | 540 | $ | 5,572 | ||||||||
Basic net income per share: |
||||||||||||||||
Net income......................................................... |
$ | 0.19 | $ | 0.46 | $ | 0.15 | $ | 1.56 | ||||||||
Diluted net income per share: |
||||||||||||||||
Net income........................................................ |
$ | 0.19 | $ | 0.45 | $ | 0.15 | $ | 1.52 | ||||||||
Weighted average common shares outstanding: |
||||||||||||||||
Basic................................................................... |
3,451 | 3,548 | 3,531 | 3,580 | ||||||||||||
Diluted................................................................ |
3,524 | 3,623 | 3,604 | 3,656 | ||||||||||||
Common shares outstanding................................. |
3,451 | 3,545 | 3,451 | 3,545 | ||||||||||||
| 三个月已结束 3月31日 |
九个月已结束 3月31日 |
|||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| （重述） | （重述） | |||||||||||||||
净销售额... |
$ | 14,293 | $ | 13,079 | $ | 38,819 | $ | 35,448 | ||||||||
销售成本... |
10,291 | 9,268 | 28,357 | 26,058 | ||||||||||||
毛利... |
4,002 | 3,811 | 10,462 | 9,390 | ||||||||||||
|
运营费用：
销售费用...
|
17 | 24 | 79 | 146 | ||||||||||||
一般和管理费用... |
1,012 | 1,009 | 3,208 | 2,983 | ||||||||||||
研发成本... |
760 | 713 | 2,353 | 2,109 | ||||||||||||
总运营费用... |
1,789 | 1,746 | 5,640 | 5,238 | ||||||||||||
营业收入... |
2,213 | 2,065 | 4,822 | 4,152 | ||||||||||||
利息支出... |
138 | 131 | 409 | 389 | ||||||||||||
有价股票投资的未实现收益（亏损）... |
(1,192) | 242 | (3,785) | 3,407 | ||||||||||||
利息和其他收入... |
30 | 11 | 76 | 235 | ||||||||||||
出售投资的收益... |
- | - | - | 7 | ||||||||||||
所得税前收入... |
913 | 2,187 | 704 | 7,412 | ||||||||||||
所得税支出... |
258 | 570 | 164 | 1,840 | ||||||||||||
净收入... |
$ | 655 | $ | 1,617 | $ | 540 | $ | 5,572 | ||||||||
每股基本净收益： |
||||||||||||||||
净收入... |
$ | 0.19 | $ | 0.46 | $ | 0.15 | $ | 1.56 | ||||||||
摊薄后的每股净收益： |
||||||||||||||||
净收入... |
$ | 0.19 | $ | 0.45 | $ | 0.15 | $ | 1.52 | ||||||||
已发行普通股的加权平均值： |
||||||||||||||||
基本... |
3,451 | 3,548 | 3,531 | 3,580 | ||||||||||||
稀释... |
3,524 | 3,623 | 3,604 | 3,656 | ||||||||||||
已发行普通股... |
3,451 | 3,545 | 3,451 | 3,545 | ||||||||||||
CONTACT:
Richard L. Van Kirk, Chief Executive Officer
(949) 769-3200
联系人：
理查德·范·柯克，首席执行官
(949) 769-3200
SOURCE: Pro-Dex, Inc.
资料来源：Pro-Dex, Inc.