Pro-Dex, Inc. Announces Fiscal 2024 Second Quarter and Six-Month Results
Pro-Dex, Inc. Announces Fiscal 2024 Second Quarter and Six-Month Results
IRVINE, CA / ACCESSWIRE / February 8, 2024 / PRO-DEX, INC. (NasdaqCM:PDEX) today announced financial results for its fiscal 2024 second quarter ended December 31, 2023. The Company also filed its Quarterly Report on Form 10-Q for the second quarter of fiscal year 2024 with the Securities and Exchange Commission today.
加利福尼亚州尔湾/ACCESSWIRE /2024 年 2 月 8 日/PRO-DEX, INC.纳斯达克股票代码：PDEX）今天公布了截至2023年12月31日的2024财年第二季度的财务业绩。该公司还于今天向美国证券交易委员会提交了2024财年第二季度的10-Q表季度报告。
Quarter Ended December 31, 2023
截至2023年12月31日的季度
Net sales for the three months ended December 31, 2023, increased $1.3 million, or 12%, to $12.6 million from $11.3 million for the three months ended December 31, 2022, due primarily to an increase in repair revenue related to the orthopedic surgical handpiece that we sell to our largest customer. As previously disclosed, we began an enhanced repair program in the prior fiscal year to upgrade our customer's handpieces to the most current revision.
截至2023年12月31日的三个月，净销售额从截至2022年12月31日的三个月的1,130万美元增长了130万美元，增长了12％，至1,260万美元，增长了12％，这主要是由于与我们出售给最大客户的骨科手术手机相关的维修收入增加。正如先前披露的那样，我们在上一财年启动了一项强化维修计划，将客户的手机升级到最新的版本。
Gross profit for the three months ended December 31, 2023, increased $179,000, or 7%, to $2.8 million from $2.6 million for the same period in fiscal 2023. The improvement in gross margin is primarily because we have seen a reduction in the requirement for us to supply components to our suppliers for our printed circuit board assemblies.
截至2023年12月31日的三个月，毛利从2023财年同期的260万美元增长了17.9万美元，增长了7％，至280万美元。毛利率的提高主要是因为我们看到向供应商提供印刷电路板组件组件的要求减少了。
Operating expenses (which include selling, general and administrative, and research and development expenses) for the quarter ended December 31, 2023 increased $539,000, or 36%, to $2.0 million compared to $1.5 million in the prior fiscal year's corresponding quarter, reflecting in part the reduced number of billable engineering projects in the current fiscal quarter compared to the same period in the prior fiscal year and increased general and administrative expenses mostly due to higher professional fees related to audit and valuation services.
截至2023年12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）增加了53.9万美元，至200万美元，增幅36％，而上一财年同期为150万美元，这在一定程度上反映了本财季可计费的工程项目数量与上一财年同期相比减少以及一般和管理费用增加，这主要是由于与审计和估值相关的专业费用增加服务。
Our operating income for the quarter ended December 31, 2023, decreased $360,000, or 32%, to $777,000 compared to $1.1 million for the prior fiscal year's corresponding quarter. Although sales and gross profit have increased, as described above, our operating expenses have increased at a higher rate.
截至2023年12月31日的季度，我们的营业收入下降了36万美元，至77.7万美元，下降了32％，而上一财年同期的营业收入为110万美元。尽管如上所述，销售额和毛利润有所增加，但我们的运营费用却以更高的速度增长。
Net income for the quarter ended December 31, 2023, was $500,000 or $0.14 per diluted share, compared to $2.8 million, or $0.75 per diluted share, for the corresponding quarter in fiscal 2023. Our net income for the three months ended December 31, 2023, contains unrealized losses on our marketable equity investments of $40,000 while our net income for the three months ended December 31, 2022 contains unrealized gains on our marketable equity investments of $2.7 million. All of our investments are recorded at estimated fair value, and the valuation can be highly volatile.
截至2023年12月31日的季度净收益为50万美元，摊薄每股收益为0.14美元，而2023财年同期的净收益为280万美元，摊薄每股收益为0.75美元。截至2023年12月31日的三个月，我们的净收入包含40,000美元的有价股权投资的未实现亏损，而截至2022年12月31日的三个月的净收入包含270万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。
Six Months Ended December 31, 2023
截至2023年12月31日的六个月
Net sales for the six months ended December 31, 2023, increased $2.2 million, or 10%, to $24.5 million from $22.4 million for the six months ended December 31, 2022, due primarily to increased repair revenue from the orthopedic surgical handpiece that we sell to our largest customer as well as the launch of our second thoracic driver, offset by decreased non-recurring engineering and proto-type revenue.
截至2023年12月31日的六个月净销售额从截至2022年12月31日的六个月的2240万美元增长了220万美元，增长了10％，增幅为10％，这主要是由于我们出售给最大客户的整形外科手术手机的维修收入增加以及我们的第二款胸腔驱动器的推出，但被非经常性工程和原型收入的减少所抵消。
Gross profit for the six months ended December 31, 2023, increased $882,000, or 16%, compared to the same period in fiscal 2023 due to a decline in the requirement for us to source components at elevated prices on behalf of our suppliers in order to meet delivery requirements of our customers, which we believe was a temporary COVID related disruption that impacted our business.
截至2023年12月31日的六个月中，毛利与2023财年同期相比增长了88.2万美元，增长了16％，这是由于要求我们代表供应商以更高的价格采购组件以满足客户交付要求的要求有所下降，我们认为这是与COVID相关的暂时中断，影响了我们的业务。
Operating expenses (which include selling, general and administrative, and research and development expenses) for the six months ended December 31, 2023, increased $359,000, or 10%, to $3.9 million compared to $3.5 million in the prior fiscal year's corresponding period. The increase is related to increased research and development costs due to fewer billable projects in the current fiscal year than the prior fiscal year as well as higher general and administrative expenses mostly due to higher professional fees mostly related to audit and valuation services.
截至2023年12月31日的六个月中，运营费用（包括销售、一般和管理以及研发费用）与上一财年同期的350万美元相比增加了35.9万美元，增幅为390万美元，增长了10％。这一增长与研发成本增加有关，这是由于本财年的计费项目少于上一财年，以及一般和管理费用增加，这主要是由于主要与审计和估值服务相关的专业费用增加。
Our operating income for six months ended December 31, 2023, increased $523,000, or 25%, to $2.6 million compared to $2.1 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2023年12月31日的六个月中，我们的营业收入增长了52.3万美元，至260万美元，增长了25％，而上一财年同期为210万美元。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 loss for the six months ended December 31, 2023, was $115,000 or $0.03 per diluted share, compared to net income of $4.0 million, or $1.08 per diluted share for the six months ended December 31, 2022. Our net income for the six months ended December 31, 2023, contains unrealized losses on our marketable equity investments of $2.6 million and our net income for the six months ended December 31, 2022, contains unrealized gains on our marketable equity investments of $3.2 million. All of our investments are recorded at estimated fair value, and the valuation can be highly volatile.
截至2023年12月31日的六个月净亏损为11.5万美元，摊薄每股亏损0.03美元，而截至2022年12月31日的六个月净收益为400万美元，摊薄每股亏损1.08美元。截至2023年12月31日的六个月中，我们的净收入包含260万美元的有价股权投资的未实现亏损和截至2022年12月31日的六个月的净收入包含有价股权投资的320万美元未实现收益。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 second quarter and year-to-date results." said Richard L. ("Rick") Van Kirk, the Company's President and Chief Executive Officer. "We would also like to share that we have implemented a new stock buy-back program and have begun to decrease our inventory levels." Mr. Van Kirk continued, "We are excited about our continued sales growth as well as our prospects for continued future growth, as we are increasing our investment in our sales channels."
该公司总裁兼首席执行官理查德·L.（“里克”）范柯克说：“我们对第二季度和今年迄今为止的业绩感到满意。”“我们还想分享的是，我们已经实施了一项新的股票回购计划，并已开始降低库存水平。”范柯克继续说：“随着我们增加对销售渠道的投资，我们对销售额的持续增长以及未来的持续增长前景感到兴奋。”
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, Inc. also 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、电池供电的电动多功能外科手术驱动器和剃须刀，主要用于骨科、胸部和颌骨面部市场。我们拥有专利的采用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, Inc. 还向各行各业销售旋转气动马达。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，请访问该公司的网站。
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, 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、发展和未来业绩的陈述，以及管理层对未来的预期、信念、计划、估计或预测，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）
|
December 31, 2023 |
June 30,
2023
|
|||||||
ASSETS |
||||||||
Current assets: |
||||||||
Cash and cash equivalents.......................................... |
$ | 1,289 | $ | 2,936 | ||||
Investments............................................................... |
5,803 | 1,134 | ||||||
Accounts receivable, net of allowance for expected credit |
13,169 | 9,952 | ||||||
Deferred costs........................................................... |
412 | 494 | ||||||
Inventory................................................................... |
15,026 | 16,167 | ||||||
Prepaid expenses and other current assets.................... |
901 | 296 | ||||||
Total current assets................................................. |
36,600 | 30,979 | ||||||
Land and building, net................................................... |
6,202 | 6,249 | ||||||
Equipment and leasehold improvements, net................... |
5,331 | 5,079 | ||||||
Right-of-use asset, net.................................................... |
1,675 | 1,872 | ||||||
Intangibles, net.............................................................. |
68 | 81 | ||||||
Investments................................................................... |
1,509 | 7,521 | ||||||
Other assets................................................................... |
42 | 42 | ||||||
Total assets................................................................ |
$ | 51,427 | $ | 51,823 | ||||
LIABILITIES AND SHAREHOLDERS' EQUITY |
||||||||
Current liabilities: |
||||||||
Accounts payable....................................................... |
$ | 2,909 | $ | 2,261 | ||||
Accrued liabilities...................................................... |
2,846 | 3,135 | ||||||
Income taxes payable................................................. |
389 | 453 | ||||||
Notes payable............................................................ |
3,846 | 3,827 | ||||||
Total current liabilities............................................ |
9,990 | 9,676 | ||||||
Lease liability, net of current portion............................. |
1,415 | 1,638 | ||||||
Deferred income taxes, net........................................... |
8 | 8 | ||||||
Notes payable, net of current portion............................. |
8,228 | 8,911 | ||||||
Total non-current liabilities..................................... |
9,651 | 10,557 | ||||||
Total liabilities........................................................... |
19,641 | 20,233 | ||||||
Shareholders' equity: |
||||||||
|
Common stock; no par value; 50,000,000 shares authorized;
3,541,045 and 3,545,309 shares issued and outstanding at
December 31, 2023 and June 30, 2023, respectively..................................................
|
7,078 | 6,767 | ||||||
Retained earnings ...................................................... |
24,708 | 24,823 | ||||||
Total shareholders' equity....................................... |
31,786 | 31,590 | ||||||
Total liabilities and shareholders' equity............... |
$ | 51,427 | $ | 51,823 | ||||
| 十二月三十一日 2023 |
6月30日
2023
|
|||||||
资产 |
||||||||
流动资产： |
||||||||
现金和现金等价物... |
$ | 1,289 | $ | 2,936 | ||||
投资... |
5,803 | 1,134 | ||||||
应收账款，扣除预期信贷备抵后的净额 |
13,169 | 9,952 | ||||||
递延成本... |
412 | 494 | ||||||
库存... |
15,026 | 16,167 | ||||||
预付费用和其他流动资产... |
901 | 296 | ||||||
流动资产总额... |
36,600 | 30,979 | ||||||
土地和建筑物，网络... |
6,202 | 6,249 | ||||||
设备和租赁权益改进，净值... |
5,331 | 5,079 | ||||||
使用权资产，净额... |
1,675 | 1,872 | ||||||
无形资产，净资产... |
68 | 81 | ||||||
投资... |
1,509 | 7,521 | ||||||
其他资产... |
42 | 42 | ||||||
总资产... |
$ | 51,427 | $ | 51,823 | ||||
负债和股东权益 |
||||||||
流动负债： |
||||||||
应付账款... |
$ | 2,909 | $ | 2,261 | ||||
应计负债... |
2,846 | 3,135 | ||||||
应付所得税... |
389 | 453 | ||||||
应付票据... |
3,846 | 3,827 | ||||||
流动负债总额... |
9,990 | 9,676 | ||||||
减去当期部分的租赁负债... |
1,415 | 1,638 | ||||||
递延所得税，净额... |
8 | 8 | ||||||
应付票据，扣除当期部分... |
8,228 | 8,911 | ||||||
非流动负债总额... |
9,651 | 10,557 | ||||||
负债总额... |
19,641 | 20,233 | ||||||
股东权益： |
||||||||
|
普通股；无面值；授权5000万股；
已发行和流通的股票为3,541,045和3,545,309股
分别是 2023 年 12 月 31 日和 2023 年 6 月 30 日...
|
7,078 | 6,767 | ||||||
留存收益... |
24,708 | 24,823 | ||||||
股东权益总额... |
31,786 | 31,590 | ||||||
负债总额和股东权益... |
$ | 51,427 | $ | 51,823 | ||||
PRO-DEX, INC. AND SUBSIDIARY
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(In thousands, except per share amounts)
PRO-DEX, INC.和子公司
简明合并运营报表
（未经审计）
（以千计，每股金额除外）
|
Three Months Ended December 31, |
Six Months Ended December 31, |
|||||||||||||||
| 2023 | 2022 | 2023 | 2022 | |||||||||||||
| (restated) | (restated) | |||||||||||||||
Net sales................................................................. |
$ | 12,588 | $ | 11,282 | $ | 24,526 | $ | 22,369 | ||||||||
Cost of sales .......................................................... |
9,786 | 8,659 | 18,066 | 16,791 | ||||||||||||
Gross profit............................................................. |
2,802 | 2,623 | 6,460 | 5,578 | ||||||||||||
|
Operating expenses:
Selling expenses.....................................................
|
37 | 68 | 63 | 122 | ||||||||||||
General and administrative expenses................... |
1,200 | 951 | 2,195 | 1,975 | ||||||||||||
Research and development costs.......................... |
788 | 467 | 1,593 | 1,395 | ||||||||||||
Total operating expenses....................................... |
2,025 | 1,486 | 3,851 | 3,492 | ||||||||||||
Operating income................................................... |
777 | 1,137 | 2,609 | 2,086 | ||||||||||||
Interest expense...................................................... |
(139) | (128) | (271) | (258) | ||||||||||||
|
Unrealized gain (loss) on marketable equity
investments........................................................
|
(40) | 2,740 | (2,593) | 3,165 | ||||||||||||
Interest and other income...................................... |
22 | 7 | 46 | 225 | ||||||||||||
Gain on sale of investments.................................. |
- | - | - | 7 | ||||||||||||
Income (loss) before income taxes....................... |
620 | 3,756 | (209) | 5,225 | ||||||||||||
Income tax benefit (expense)................................ |
(120) | (1,004) | 94 | (1,270) | ||||||||||||
Net income (loss)................................................... |
$ | 500 | $ | 2,752 | $ | (115) | $ | 3,955 | ||||||||
Basic net income (loss) per share: |
||||||||||||||||
Net income (loss).............................................. |
$ | 0.14 | $ | 0.77 | $ | (0.03) | $ | 1.10 | ||||||||
Diluted net income (loss) per share: |
||||||||||||||||
Net income (loss).............................................. |
$ | 0.14 | $ | 0.75 | $ | (0.03) | $ | 1.08 | ||||||||
Weighted-average common shares outstanding: |
||||||||||||||||
Basic................................................................... |
3,547 | 3,574 | 3,547 | 3,595 | ||||||||||||
Diluted................................................................ |
3,612 | 3,652 | 3,547 | 3,672 | ||||||||||||
Common shares outstanding................................. |
3,541 | 3,554 | 3,541 | 3,554 | ||||||||||||
| 三个月已结束 十二月三十一日 |
六个月已结束 十二月三十一日 |
|||||||||||||||
| 2023 | 2022 | 2023 | 2022 | |||||||||||||
| （重述） | （重述） | |||||||||||||||
净销售额... |
$ | 12,588 | $ | 11,282 | $ | 24,526 | $ | 22,369 | ||||||||
销售成本... |
9,786 | 8,659 | 18,066 | 16,791 | ||||||||||||
毛利... |
2,802 | 2,623 | 6,460 | 5,578 | ||||||||||||
|
运营费用：
销售费用...
|
37 | 68 | 63 | 122 | ||||||||||||
一般和管理费用... |
1,200 | 951 | 2,195 | 1,975 | ||||||||||||
研发成本... |
788 | 467 | 1,593 | 1,395 | ||||||||||||
总运营费用... |
2,025 | 1,486 | 3,851 | 3,492 | ||||||||||||
营业收入... |
777 | 1,137 | 2,609 | 2,086 | ||||||||||||
利息支出... |
(139) | (128) | (271) | (258) | ||||||||||||
|
有价股票的未实现收益（亏损）
投资...
|
(40) | 2,740 | (2,593) | 3,165 | ||||||||||||
利息和其他收入... |
22 | 7 | 46 | 225 | ||||||||||||
出售投资的收益... |
- | - | - | 7 | ||||||||||||
所得税前收入（亏损）... |
620 | 3,756 | (209) | 5,225 | ||||||||||||
所得税优惠（费用）... |
(120) | (1,004) | 94 | (1,270) | ||||||||||||
净收益（亏损）... |
$ | 500 | $ | 2752 | $ | (115) | $ | 3,955 | ||||||||
每股基本净收益（亏损）： |
||||||||||||||||
净收益（亏损）... |
$ | 0.14 | $ | 0.77 | $ | (0.03) | $ | 1.10 | ||||||||
摊薄后的每股净收益（亏损）： |
||||||||||||||||
净收益（亏损）... |
$ | 0.14 | $ | 0.75 | $ | (0.03) | $ | 1.08 | ||||||||
已发行普通股的加权平均值： |
||||||||||||||||
基本... |
3,547 | 3,574 | 3,547 | 3595 | ||||||||||||
稀释... |
3,612 | 3,652 | 3,547 | 3,672 | ||||||||||||
已发行普通股... |
3,541 | 3,554 | 3,541 | 3,554 | ||||||||||||
CONTACT:
Richard L. Van Kirk,
Chief Executive Officer
(949) 769-3200
联系人：
理查德·L·范·柯克，
首席执行官
(949) 769-3200
SOURCE: Pro-Dex, Inc.
资料来源：Pro-Dex, Inc.