Pro-Dex, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended March 31, 2024
May 02, 2024 at 04:01 pm EDT
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Pro-Dex, Inc. reported earnings results for the third quarter and nine months ended March 31, 2024. For the third quarter, the company reported sales was USD 14.29 million compared to USD 13.08 million a year ago. Net income was USD 0.655 million compared to USD 1.62 million a year ago. Basic earnings per share from continuing operations was USD 0.19 compared to USD 0.46 a year ago. Diluted earnings per share from continuing operations was USD 0.19 compared to USD 0.45 a year ago.
For the nine months, sales was USD 38.82 million compared to USD 35.45 million a year ago. Net income was USD 0.54 million compared to USD 5.57 million a year ago. Basic earnings per share from continuing operations was USD 0.15 compared to USD 1.56 a year ago. Diluted earnings per share from continuing operations was USD 0.15 compared to USD 1.52 a year ago.
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 craniomaxillofacial (CMF) markets. The Company has patented adaptive torque-limiting technology and sealing solutions, which appeal to its customers, primarily medical device distributors. It also manufactures and sells rotary air motors to a range of industries. The Companyâs medical device products utilize designs developed by it primarily under development and supply agreements and are machined in its Irvine, California facility, and assembled in its Tustin, California facility, as are its rotary air motors. Its medical device products are sold primarily to original equipment manufacturers and its air motors are sold primarily to a range of distributors and end users. It has an approximately 25,000 square foot industrial building in Tustin, California (the Franklin Property).