Pro-Dex, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended December 31, 2023
February 08, 2024 at 04:02 pm EST
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Pro-Dex, Inc. reported earnings results for the second quarter and six months ended December 31, 2023. For the second quarter, the company reported sales was USD 12.59 million compared to USD 11.28 million a year ago. Net income was USD 0.5 million compared to USD 2.75 million a year ago. Basic earnings per share from continuing operations was USD 0.14 compared to USD 0.77 a year ago. Diluted earnings per share from continuing operations was USD 0.14 compared to USD 0.75 a year ago.
For the six months, sales was USD 24.53 million compared to USD 22.37 million a year ago. Net loss was USD 0.115 million compared to net income of USD 3.96 million a year ago. Basic loss per share from continuing operations was USD 0.03 compared to basic earnings per share from continuing operations of USD 1.1 a year ago. Diluted loss per share from continuing operations was USD 0.03 compared to diluted earnings per share from continuing operations of USD 1.08 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).
PRO-DEX, INC. 
