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.
加利福尼亞州爾灣/ACCESSWIRE /2024 年 5 月 2 日/PRO-DEX, INC.納斯達克股票代碼：PDEX）今天公佈了截至2024年3月31日的2024財年第三季度的財務業績。該公司還於今天向美國證券交易委員會提交了2024財年第三季度的10-Q表季度報告。
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日的三個月，淨銷售額從截至2023年3月31日的三個月的1,310萬美元增長了120萬美元，增長了9％，增幅爲9％，這主要是由於醫療器械產品收入增長了280萬美元，被非經常性工程和維修收入分別減少73.6萬美元和63.5萬美元所抵消。
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日的三個月，毛利從2023財年同期的380萬美元增長了19.1萬美元，增長了5％，至400萬美元。儘管毛利增長與我們的淨銷售額增長一致，但其增長百分比相對低於淨銷售額的增長百分比，部分原因是截至2024年3月31日的季度與2023財年同期相比產生的收入組合。
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日的季度的運營支出（包括銷售、一般和管理以及研發費用）與2023財年同期相比略有增長2％，這主要是由於研發成本的增加。
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，我們的營業收入增長了14.8萬美元，達到220萬美元，增長了7％，而上一財年同期的營業收入爲210萬美元。如上所述，這一增長反映了我們的銷售額和毛利潤的增長。
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日的季度淨收益爲65.5萬美元，攤薄每股收益爲0.19美元，而2023財年同期的淨收益爲160萬美元，攤薄每股收益爲0.45美元。截至2024年3月31日的三個月，我們的淨收入包含120萬美元的有價股權投資的未實現虧損，而截至2023年3月31日的三個月的淨收入包含24.2萬美元的有價股權投資的未實現收益。我們所有的投資均按估計的公允價值入賬，估值可能波動很大。
Nine Months Ended March 31, 2024
截至2024年3月31日的九個月
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日的九個月淨銷售額從截至2023年3月31日的九個月的3540萬美元增長了340萬美元，增長了10％，至3,880萬美元。銷售額的增長與我們在上財年啓動的強化維修計劃相關的230萬美元維修收入增長了230萬美元，該計劃旨在翻新我們出售給最大客戶的整形外科手機，以及新設備的銷售額增加了190萬美元致同一客戶，胸腔驅動器銷售額的增長160萬美元被非經常性銷售額減少的160萬美元所抵消工程收入，CMF司機銷售額減少了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日的九個月中，毛利與2023財年同期相比增長了110萬美元，增長了11％。毛利潤的增長與同期收入的增長一致。
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日的九個月的運營費用（包括銷售、一般和管理以及研發費用）從上一財年同期的520萬美元增長了8％，至560萬美元，這是由於截至2024年3月31日的九個月中一般和管理費用以及研發成本與上一財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日的九個月中，我們的營業收入增長了67萬美元，達到480萬美元，增長了16％，而上一財年同期爲420萬美元。營業收入的增加歸因於銷售額的增加和毛利潤的增加被上述較高的運營費用所抵消。
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日的九個月淨收益爲54萬美元，攤薄每股收益爲0.15美元，而2023財年同期爲560萬美元，攤薄每股收益爲1.52美元。截至2024年3月31日的九個月中，我們的淨收入包含380萬美元的有價股權投資的未實現虧損，截至2023年3月31日的九個月的淨收入包含有價股權投資的340萬美元未實現收益。我們所有的投資均按估計的公允價值入賬，估值可能波動很大。
CEO Comments
首席執行官評論
"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."
該公司總裁兼首席執行官理查德·L.（“裏克”）範柯克表示：“我們對持續執行推動的第三季度經營業績感到滿意。”“從收入的角度來看，我們正朝着又一個創紀錄的財年邁進，我們有能力將這一勢頭延續到2025財年及以後。”
About Pro-Dex, Inc.:
關於 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. 專門設計、開發和製造可高壓滅菌、電池供電和電動的多功能手術驅動器和剃鬚刀，主要用於整形外科、胸腔和上頜面部市場。我們擁有獲得專利的採用性扭矩限制軟件和專有的密封解決方案，這些解決方案吸引了我們的客戶，主要是醫療器械分銷商。Pro-Dex還爲各行各業製造和銷售旋轉氣動馬達。Pro-Dex的產品在世界各地的醫院和醫學工程實驗室中都可以找到。欲了解更多信息，請訪問公司網站，網址爲。
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.
此處有關公司計劃、增長和戰略的陳述可能包括聯邦證券法背景下的 “前瞻性陳述”。根據這些法律的定義，有關公司未來事件、發展和未來業績（包括但不限於預期的財年收入）以及管理層對未來的預期、信念、計劃、估計或預測的陳述，均爲前瞻性陳述。由於各種因素，該公司的實際業績可能與建議的業績存在重大差異。有關各方應參閱公司向美國證券交易委員會提交的文件中列出的有關公司運營和業務問題的披露。
(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
簡明的合併資產負債表
（未經審計）
（以千計，股票金額除外）
|
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
|
|||||||
資產 |
||||||||
流動資產： |
||||||||
現金和現金等價物... |
$ | 3,219 | $ | 2,936 | ||||
投資... |
4,577 | 1,134 | ||||||
應收賬款，扣除截至2024年3月31日和2023年6月30日的預期信貸損失準備金分別爲1美元和0美元... |
12,516 | 9,952 | ||||||
遞延成本... |
331 | 494 | ||||||
庫存... |
14,242 | 16,167 | ||||||
預付費用和其他流動資產... |
1,072 | 296 | ||||||
流動資產總額... |
35,957 | 30,979 | ||||||
土地和建築物，網絡... |
6,179 | 6,249 | ||||||
設備和租賃權益改進，淨值... |
5,191 | 5,079 | ||||||
使用權資產，淨額... |
1,575 | 1,872 | ||||||
無形資產，淨資產... |
61 | 81 | ||||||
投資... |
1,543 | 7,521 | ||||||
其他資產... |
42 | 42 | ||||||
總資產... |
$ | 50,548 | $ | 51,823 | ||||
負債和股東權益 |
||||||||
流動負債： |
||||||||
應付賬款... |
$ | 3,435 | $ | 2,261 | ||||
應計費用... |
2,701 | 3,135 | ||||||
遞延收入... |
35 | - | ||||||
應付所得稅... |
390 | 453 | ||||||
應付票據... |
3,858 | 3,827 | ||||||
流動負債總額... |
10,419 | 9,676 | ||||||
減去當期部分的租賃負債... |
1,299 | 1,638 | ||||||
遞延所得稅，淨額... |
8 | 8 | ||||||
應付票據，扣除當期部分... |
7,884 | 8,911 | ||||||
非流動負債總額... |
9,191 | 10,557 | ||||||
負債總額... |
19,610 | 20,233 | ||||||
股東權益： |
||||||||
普通股；無面值；授權5000萬股；截至2024年3月31日和2023年6月30日分別已發行和流通的3,451,423股和3,545,309股... |
5,575 | 6,767 | ||||||
留存收益... |
25,363 | 24,823 | ||||||
股東權益總額... |
30,938 | 31,590 | ||||||
負債總額和股東權益... |
$ | 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
簡明合併損益表
（未經審計）
（以千計，每股金額除外）
|
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 | ||||||||||||
| 三個月已結束 3月31日 |
九個月已結束 3月31日 |
|||||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||||
| （重述） | （重述） | |||||||||||||||
淨銷售額... |
$ | 14,293 | $ | 13,079 | $ | 38,819 | $ | 35,448 | ||||||||
銷售成本... |
10,291 | 9,268 | 28,357 | 26,058 | ||||||||||||
毛利... |
4,002 | 3,811 | 10,462 | 9,390 | ||||||||||||
|
運營費用：
銷售費用...
|
17 | 24 | 79 | 146 | ||||||||||||
一般和管理費用... |
1,012 | 1,009 | 3,208 | 2,983 | ||||||||||||
研發成本... |
760 | 713 | 2,353 | 2,109 | ||||||||||||
總運營費用... |
1,789 | 1,746 | 5,640 | 5,238 | ||||||||||||
營業收入... |
2,213 | 2,065 | 4,822 | 4,152 | ||||||||||||
利息支出... |
138 | 131 | 409 | 389 | ||||||||||||
有價股票投資的未實現收益（虧損）... |
(1,192) | 242 | (3,785) | 3,407 | ||||||||||||
利息和其他收入... |
30 | 11 | 76 | 235 | ||||||||||||
出售投資的收益... |
- | - | - | 7 | ||||||||||||
所得稅前收入... |
913 | 2,187 | 704 | 7,412 | ||||||||||||
所得稅支出... |
258 | 570 | 164 | 1,840 | ||||||||||||
淨收入... |
$ | 655 | $ | 1,617 | $ | 540 | $ | 5,572 | ||||||||
每股基本淨收益： |
||||||||||||||||
淨收入... |
$ | 0.19 | $ | 0.46 | $ | 0.15 | $ | 1.56 | ||||||||
攤薄後的每股淨收益： |
||||||||||||||||
淨收入... |
$ | 0.19 | $ | 0.45 | $ | 0.15 | $ | 1.52 | ||||||||
已發行普通股的加權平均值： |
||||||||||||||||
基本... |
3,451 | 3,548 | 3,531 | 3,580 | ||||||||||||
稀釋... |
3,524 | 3,623 | 3,604 | 3,656 | ||||||||||||
已發行普通股... |
3,451 | 3,545 | 3,451 | 3,545 | ||||||||||||
CONTACT:
Richard L. Van Kirk, Chief Executive Officer
(949) 769-3200
聯繫人：
理查德·範·柯克，首席執行官
(949) 769-3200
SOURCE: Pro-Dex, Inc.
資料來源：Pro-Dex, Inc.