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.
加利福尼亞州爾文/ACCESSWIRE/2023年5月4日/Pro-DEX,Inc.納斯達克股票代碼:PDEX)今天公佈了截至2023年3月31日的2023財年第三季度財務業績。該公司今天還向美國證券交易委員會提交了2023財年第三季度的Form 10-Q季度報告。
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日的三個月,淨銷售額增加了380萬美元,增幅為41%,從截至2022年3月31日的三個月的930萬美元增加到1310萬美元,這主要是由於本財年推出的增強維修計劃增加了320萬美元的維修收入,該計劃旨在將我們向最大客戶銷售的手機升級到其最新一代。
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日的三個月,毛利潤從2022財年同期的290萬美元增加到380萬美元,增幅為953,000美元,增幅為33%。毛利潤的增長與我們淨銷售額的增長一致,並受益於我們與最大客戶就以前升級的維修達成的決心和協議。此外,我們的供應鏈大部分環節的成本都在繼續上升。
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.
與2022財年同期相比,截至2023年3月31日的季度的運營費用(包括銷售、一般和行政費用以及研發費用)略有下降,降幅為5%,主要是由於一般和行政費用的減少。
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,淨收益為130萬美元,或每股稀釋後收益0.36美元,而2022財年同期為46.2萬美元,或每股稀釋後收益0.12美元。
Nine Months Ended March 31, 2023
截至2023年3月31日的9個月
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個月,淨銷售額從截至2022年3月31日的9個月的2,940萬美元增加到3,540萬美元,增幅為20%,這是由於與上述增強維修計劃相關的維修收入增加了430萬美元,以及可收費的非經常性工程專案增加了150萬美元。
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個月,毛利潤與2022財年同期相比下降了29.9萬美元,降幅為3%。截至2023年3月31日的9個月,毛利潤下降的部分原因是上述增強維修計劃,其中包括預先更換手機的許多昂貴部件,以及我們供應鏈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個月,營業費用(包括銷售、一般和行政以及研發費用)從上一財年同期的570萬美元下降到520萬美元,降幅為9%,主要是由於一般和行政費用中記錄的非現金股票薪酬費用減少。
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個月的淨收益為330萬美元,或每股稀釋後收益0.89美元,而2022財年同期為250萬美元,或每股稀釋後收益0.65美元。
CEO Comments
CEO評論
"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."
該公司的總裁兼首席執行官理查德·L·範·柯克說:“我們對第三季度的業績感到滿意,因為我們繼續證明我們有能力在控制運營費用的同時增加收入。”從收入的角度來看,我們正朝著另一個創紀錄的財政年度前進,我們預計將在第四季度完成將我們所有的組裝和維修業務轉移到富蘭克林工廠。“
About Pro-Dex, Inc.:
Pro-Dex公司簡介:
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.專門設計、開發和製造主要用於整形外科、胸部和頜面部市場的高壓滅菌、電池供電和電動多功能外科驅動和剃鬚刀。我們擁有專利採用的扭矩限制軟體和專有的密封解決方案,吸引了我們的客戶,主要是醫療器械分銷商。Pro-Dex還向各行各業製造和銷售旋轉空氣馬達。Pro-Dex的產品遍佈世界各地的醫院和醫學工程實驗室。欲瞭解更多資訊,請訪問公司網站:。
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.
本文中有關公司計劃、增長和戰略的陳述可能包括符合聯盟證券法的“前瞻性陳述”。有關公司未來事件、發展和未來業績的陳述(包括但不限於富蘭克林工廠的預期開始運營和預期的財政年度收入),以及管理層對未來的預期、信念、計劃、估計或預測,均屬前瞻性陳述,符合這些法律的定義。由於各種因素,該公司的實際結果可能與建議的結果大不相同。感興趣的各方應參考公司提交給證券交易委員會的檔案中關於公司運營和業務問題的披露。
(tables follow)
(各表如下)
PRO-DEX, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
(Unaudited)
(In thousands, except share amounts)
Pro-DEX,Inc.及附屬公司
簡明合併資產負債表
(未經審計)
(單位為千,不包括份額)
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
|
|||||||
資產 |
||||||||
流動資產: |
||||||||
現金和現金equivalents............................................... |
$ | 2088 | $ | 849 | ||||
Investments.................................................................... |
1149 | 七百五十五 | ||||||
2023年3月31日和2022年6月30日的應收賬款,扣除壞賬準備2美元和0美元,respectively................................................. |
10,565 | 15,384 | ||||||
延遲costs............................................................... |
二百七十九 | 七百一十 | ||||||
Inventory....................................................................... |
15,145 | 12,678 | ||||||
預付開支及其他流動資產...... |
1,919 | 七百九十 | ||||||
總當前assets..................................................... |
31,145 | 31,166 | ||||||
土地和建築,net........................................................ |
6,273 | 6,343 | ||||||
設備和租賃改進,淨額. |
5162 | 4833 | ||||||
使用權資產,net......................................................... |
1968年 | 2248 | ||||||
無形資產,net.................................................................. |
八十七 | 一百一十八 | ||||||
遞延所得稅,net................................................. |
七百六十四 | 797 | ||||||
Investments....................................................................... |
1,534 | 1779 | ||||||
其他assets....................................................................... |
42 | 42 | ||||||
總assets.................................................................... |
$ | 46,975 | $ | 47326 | ||||
負債和股東權益 |
||||||||
流動負債: |
||||||||
Account payable........................................................... |
$ | 3,068 | $ | 3761 | ||||
應計expenses........................................................... |
2425 | 2751 | ||||||
延遲revenue............................................................ |
57 | 1,013 | ||||||
所得稅payable...................................................... |
1480 | 544 | ||||||
注:payable.................................................................. |
3,114 | 3,285 | ||||||
總當前liabilities................................................ |
10,144 | 11,354 | ||||||
租賃負債,扣除當前部分後的淨額...... |
1,745 | 2054 | ||||||
應付票據,扣除當期部分後的淨額...... |
9247 | 10,250 | ||||||
非當前liabilities.........................................總數 |
10,992 | 12,304 | ||||||
總liabilities............................................................... |
21,136 | 23,658 | ||||||
股東權益: |
||||||||
普通股;無面值;授權發行5,000,000股;於2023年3月31日和2022年6月30日發行和發行的3,545,309股和3,596,131股,respectively................................................................ |
6585 | 7682 | ||||||
留存收益.......................................................... |
19,254 | 15,986 | ||||||
股東總equity........................................... |
25,839 | 23,668 | ||||||
總負債及股東權益總額. |
$ | 46,975 | $ | 47326 |
PRO-DEX, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED INCOME STATEMENTS
(Unaudited)
(In thousands, except per share amounts)
Pro-DEX,Inc.及附屬公司
簡明合併損益表
(未經審計)
(以千為單位,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 |
截至三個月 3月31日, |
九個月結束 3月31日, |
|||||||||||||||
2023年 | 2022年 | 2023年 | 2022年 | |||||||||||||
Net sales................................................................. |
$ | 13,079 | $ | 9265 | $ | 35,448 | $ | 29,426 | ||||||||
銷售成本.......................................................... |
9268 | 6,407 | 26,058 | 19737 | ||||||||||||
總profit............................................................. |
3811 | 2858 | 9390 | 9689 | ||||||||||||
運營費用:
銷售expenses.....................................................
|
24個 | 20個 | 146 | 79 | ||||||||||||
一般及行政開支......... |
1009 | 1145 | 2983 | 3,402 | ||||||||||||
處置設備損失. |
- | 14. | - | 14. | ||||||||||||
研究及發展費用.. |
七百一十三 | 658 | 2109 | 2,254 | ||||||||||||
總運營expenses....................................... |
1,746 | 1,837 | 5,238 | 5749 | ||||||||||||
操作income................................................... |
2065 | 1,021 | 4,152 | 3940 | ||||||||||||
利息expense...................................................... |
(131) | ) | (112) | ) | (389 | ) | (349 | ) | ||||||||
可流通權益investments........................................................的未實現收益(虧損) |
(177 | ) | (275 | ) | 二百三十一 | (427) | ) | |||||||||
利息及其他收入...... |
11. | - | 235 | 50 | ||||||||||||
出售投資的收益......... |
- | - | 7. | - | ||||||||||||
未計入息稅前收入..................... |
1768 | 634 | 4236 | 3214 | ||||||||||||
所得稅expense............................................... |
(455 | ) | (172 | ) | (968) | ) | (764) | ) | ||||||||
Net income............................................................. |
$ | 1,313 | $ | 四百六十二 | $ | 3268 | $ | 2450 | ||||||||
每股基本淨收入: |
||||||||||||||||
Net income......................................................... |
$ | 0.37 | $ | 0.13 | $ | 0.91 | $ | 0.67 | ||||||||
稀釋後每股淨收益: |
||||||||||||||||
Net income........................................................ |
$ | 0.36 | $ | 0.12 | $ | 0.89 | $ | 0.65 | ||||||||
加權平均已發行普通股: |
||||||||||||||||
Basic................................................................... |
3548 | 3626 | 3580 | 3645 | ||||||||||||
Diluted................................................................ |
3623 | 3749 | 3656 | 3774 | ||||||||||||
已發行普通股..................... |
3545 | 3618 | 3545 | 3618 |
CONTACT:
Richard L. Van Kirk, Chief Executive Officer
(949) 769-3200
聯繫方式:
首席執行官理查德·L·範·柯克
(949)769-3200
SOURCE: Pro-Dex, Inc.
資料來源:Pro-Dex,Inc.