Pro-Dex, Inc. Announces Fiscal 2024 First Quarter Results
Pro-Dex, Inc. Announces Fiscal 2024 First Quarter Results
IRVINE, CA / ACCESSWIRE / November 2, 2023 / PRO-DEX, INC. (NASDAQ:PDEX) today announced financial results for its fiscal 2024 first quarter ended September 30, 2023. The Company also filed its Quarterly Report on Form 10-Q for the first quarter of fiscal year 2024 with the Securities and Exchange Commission today.
加利福尼亚州尔湾/ACCESSWIRE /2023 年 11 月 2 日/ PRO-DEX, INC.纳斯达克股票代码：PDEX）今天公布了截至2023年9月30日的2024财年第一季度的财务业绩。该公司还于今天向美国证券交易委员会提交了2024财年第一季度的10-Q表季度报告。
Net sales for the three months ended September 30, 2023, increased $851,000, or 8%, to $11.9 million from $11.1 million for the three months ended September 30, 2022. The increase is driven primarily by $1.8 million in increased repairs of the surgical handpiece we sell to our largest customer offset primarily by a decrease of $0.7 million in sales of our NRE & proto-type offerings.
截至2023年9月30日的三个月，净销售额从截至2022年9月30日的三个月的1110万美元增长了85.1万美元，增幅8％，至1190万美元。增长的主要原因是我们向最大客户销售的手术手柄的维修费用增加了180万美元，这主要被我们的NRE和原型机销售额下降70万美元所抵消。
Gross profit for the three months ended September 30, 2023, increased $702,000, or 24%, compared to the year-ago period. Gross margin increased by 4 percentage points to 31% during the three months ended September 30, 2023, compared to 27% during the corresponding year-ago period, due primarily to the prior year cost of sales including approximately $450,000 in repair costs to upgrade the handpiece we sell our largest customer at no additional costs. We had no similar expenses in the current fiscal year.
截至2023年9月30日的三个月，毛利与去年同期相比增长了70.2万美元，增长了24％。在截至2023年9月30日的三个月中，毛利率增长了4个百分点，达到31％，而去年同期为27％，这主要是由于上一年度的销售成本包括大约45万美元的维修成本，用于升级我们向最大客户出售的手机，而无需支付额外费用。在本财年，我们没有类似的支出。
Operating expenses (which include selling, general and administrative, and research and development expenses) for the quarter ended September 30, 2023, decreased $181,000 from the corresponding year-ago period. The decrease resulted from decreased research and development expenses as we have fewer expenses related to internal development projects in the first quarter of fiscal 2024 compared to the corresponding period of the prior fiscal year.
截至2023年9月30日的季度，运营支出（包括销售、一般和管理以及研发费用）比去年同期减少了18.1万美元。减少的原因是研发费用减少，因为与上一财年同期相比，我们在2024财年第一季度与内部开发项目相关的支出减少了。
Net loss for the quarter ended September 30, 2023, was $615,000, or $0.17 per diluted share, compared to net income of $1.2 million, or $0.33 per diluted share, for the quarter ended September 30, 2022. Our net loss includes non-operating expense of $2.7 million for the quarter ended September 30, 2023, consisting primarily of unrealized losses on investments of $2.6 million. Most of the unrealized loss on investments relates to our Warrant to purchase common stock of Monogram Orthopaedics Inc. (NasdaqCM: MGRM), which had a $2.5 million reduction in estimated fair value for the first quarter ended September 30, 2023, but still has an estimated fair value of $3.7 million as of September 30, 2023. Our investments are recorded at estimated fair value, and the valuation can be highly volatile.
截至2023年9月30日的季度净亏损为61.5万美元，摊薄每股亏损0.17美元，而截至2022年9月30日的季度净收益为120万美元，摊薄每股亏损0.33美元。我们的净亏损包括截至2023年9月30日的季度中270万美元的非运营支出，主要包括260万美元的未实现投资亏损。大部分未实现的投资亏损与我们购买Monogram Orthopaedics Inc.（纳斯达克股票代码：MGRM）普通股的认股权证有关，该公司截至2023年9月30日的第一季度的估计公允价值减少了250万美元，但截至2023年9月30日，其估计公允价值仍为370万美元。我们的投资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
Richard L. ("Rick") Van Kirk, the Company's President and Chief Executive Officer, commented, "We are pleased with our first quarter results and excited to share that sales for the first quarter ended September 30, 2023, includes approximately $1.1 million related to the launch of a new product in our Thoracic driver product line." Mr. Van Kirk concluded, "We are confident that with our assembly and repairs operations fully transitioned to the Franklin facility we are poised for continued long-term growth."
公司总裁兼首席执行官理查德·L.（“Rick”）Van Kirk评论说：“我们对第一季度的业绩感到满意，并很高兴与大家分享截至2023年9月30日的第一季度的销售额，包括与胸腔驱动器产品线推出新产品相关的约110万美元。”范柯克先生总结道：“我们相信，随着我们的装配和维修业务完全过渡到富兰克林工厂，我们有望实现持续的长期增长。”
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 that appeal to our customers, primarily medical device distributors. Pro-Dex also sells compact pneumatic air motors for a variety of industrial applications. 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、电池供电和电动的多功能手术刀和剃须刀，主要用于整形、胸腔和上颅面部市场。我们拥有采用扭矩限制软件和专有密封解决方案的专利，这些解决方案吸引了我们的客户，主要是医疗设备分销商。Pro-Dex 还销售适用于各种工业应用的紧凑型气动气动马达。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，网址为。
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 risk factors and other disclosures 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”。根据这些法律的规定，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期望、信念、计划、估计或预测，均为前瞻性陈述。由于各种因素，公司的实际业绩可能与建议的业绩存在重大差异。利益相关方应参考公司向证券交易委员会提交的文件中列出的与公司运营和业务问题有关的风险因素和其他披露。
(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）
| September 30, 2023 |
June 30,
2023
|
|||||||
ASSETS |
||||||||
Current Assets: |
||||||||
Cash and cash equivalents |
$ | 1,904 | $ | 2,936 | ||||
Investments |
1,010 | 1,134 | ||||||
Accounts receivable, net of allowance for credit losses of $0 at September 30, 2023 and at June 30, 2023, respectively |
11,034 | 9,952 | ||||||
Deferred costs |
591 | 494 | ||||||
Income taxes receivable |
420 | - | ||||||
Inventory |
16,264 | 16,167 | ||||||
Prepaid expenses and other current assets |
201 | 296 | ||||||
Total current assets |
31,424 | 30,979 | ||||||
Land and building, net |
6,226 | 6,249 | ||||||
Equipment and leasehold improvements, net |
4,952 | 5,079 | ||||||
Right-of-use asset, net |
1,774 | 1,872 | ||||||
Intangibles, net |
75 | 81 | ||||||
Investments |
5,092 | 7,521 | ||||||
Other assets |
42 | 42 | ||||||
Total assets |
$ | 49,585 | $ | 51,823 | ||||
LIABILITIES AND SHAREHOLDERS' EQUITY |
||||||||
Current Liabilities: |
||||||||
Accounts payable |
$ | 2,740 | $ | 2,261 | ||||
Accrued liabilities |
2,701 | 3,135 | ||||||
Income taxes payable |
- | 453 | ||||||
Notes payable |
2,840 | 3,827 | ||||||
Total current liabilities |
8,281 | 9,676 | ||||||
Lease liability, net of current portion |
1,529 | 1,638 | ||||||
Deferred income taxes, net |
8 | 8 | ||||||
Notes payable, net of current portion |
8,572 | 8,911 | ||||||
Total non-current liabilities |
10,109 | 10,557 | ||||||
Total liabilities |
18,390 | 20,233 | ||||||
Shareholders' Equity: |
||||||||
Common stock; no par value; 50,000,000 shares authorized; 3,547,330 and 3,545,309 shares issued and outstanding at September 30, 2023 and June 30, 2023, respectively |
6,987 | 6,767 | ||||||
Retained earnings |
24,208 | 24,823 | ||||||
Total shareholders' equity |
31,195 | 31,590 | ||||||
Total liabilities and shareholders' equity |
$ | 49,585 | $ | 51,823 | ||||
| 9月30日 2023 |
6月30日
2023
|
|||||||
资产 |
||||||||
流动资产： |
||||||||
现金和现金等价物 |
$ | 1,904 | $ | 2,936 | ||||
投资 |
1,010 | 1,134 | ||||||
截至2023年9月30日和2023年6月30日分别扣除0美元的信贷损失备抵后的应收账款 |
11,034 | 9,952 | ||||||
递延费用 |
591 | 494 | ||||||
应收所得税 |
420 | - | ||||||
库存 |
16,264 | 16,167 | ||||||
预付费用和其他流动资产 |
201 | 296 | ||||||
流动资产总额 |
31,424 | 30,979 | ||||||
土地和建筑物，净额 |
6,226 | 6,249 | ||||||
设备和租赁权改进，净额 |
4,952 | 5,079 | ||||||
使用权资产，净额 |
1,774 | 1,872 | ||||||
无形资产，净值 |
75 | 81 | ||||||
投资 |
5,092 | 7,521 | ||||||
其他资产 |
42 | 42 | ||||||
总资产 |
$ | 49,585 | $ | 51,823 | ||||
负债和股东权益 |
||||||||
流动负债： |
||||||||
应付账款 |
$ | 2,740 | $ | 2,261 | ||||
应计负债 |
2,701 | 3,135 | ||||||
应缴所得税 |
- | 453 | ||||||
应付票据 |
2,840 | 3,827 | ||||||
流动负债总额 |
8,281 | 9,676 | ||||||
租赁负债，扣除流动部分 |
1,529 | 1,638 | ||||||
递延所得税，净额 |
8 | 8 | ||||||
应付票据，扣除流动部分 |
8,572 | 8,911 | ||||||
非流动负债总额 |
10,109 | 10,557 | ||||||
负债总额 |
18,390 | 20,233 | ||||||
股东权益： |
||||||||
普通股；无面值；已授权5000万股；截至2023年9月30日和2023年6月30日分别已发行和流通3,547,330股和3545,309股 |
6,987 | 6,767 | ||||||
留存收益 |
24,208 | 24,823 | ||||||
股东权益总额 |
31,195 | 31,590 | ||||||
负债和股东权益总额 |
$ | 49,585 | $ | 51,823 | ||||
PRO-DEX, INC. AND SUBSIDIARY
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(In thousands, except share and 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，股票和每股金额除外）
| Three Months Ended September 30, | ||||||||
| 2023 | 2022 | |||||||
| (as restated) | ||||||||
Net sales |
$ | 11,938 | $ | 11,087 | ||||
Cost of sales |
8,280 | 8,131 | ||||||
Gross profit |
3,658 | 2,956 | ||||||
Operating expenses: |
||||||||
Selling expenses |
25 | 53 | ||||||
General and administrative expenses |
995 | 1,024 | ||||||
Research and development costs |
805 | 929 | ||||||
Total operating expenses |
1,825 | 2,006 | ||||||
Operating income |
1,833 | 950 | ||||||
Other income (expense): |
||||||||
Interest and dividend income |
24 | 218 | ||||||
Realized gain on sale of marketable equity investments |
- | 6 | ||||||
Unrealized gain on marketable equity investments |
(2,553 | ) | 425 | |||||
Interest expense |
(133 | ) | (130 | ) | ||||
Total other income |
(2,662 | ) | 519 | |||||
Income before income taxes |
(829 | ) | 1,469 | |||||
Provision for income taxes |
(214 | ) | 266 | |||||
Net income |
$ | (615 | ) | $ | 1,203 | |||
Basic and diluted net income per share: |
||||||||
Basic net income per share |
$ | (0.17 | ) | $ | 0.33 | |||
Diluted net income per share |
$ | (0.17 | ) | $ | 0.33 | |||
Weighted average common shares outstanding: |
||||||||
Basic |
3,546,737 | 3,616,392 | ||||||
Diluted |
3,546,737 | 3,694,959 | ||||||
Common shares outstanding |
3,547,330 | 3,606,422 | ||||||
| 截至9月30日的三个月 | ||||||||
| 2023 | 2022 | |||||||
| （经重述） | ||||||||
净销售额 |
$ | 11,938 | $ | 11,087 | ||||
销售成本 |
8,280 | 8,131 | ||||||
毛利 |
3,658 | 2,956 | ||||||
运营费用： |
||||||||
销售费用 |
25 | 53 | ||||||
一般和管理费用 |
995 | 1,024 | ||||||
研究和开发成本 |
805 | 929 | ||||||
运营费用总额 |
1,825 | 2,006 | ||||||
营业收入 |
1,833 | 950 | ||||||
其他收入（支出）： |
||||||||
利息和股息收入 |
24 | 218 | ||||||
出售有价股票投资的已实现收益 |
- | 6 | ||||||
可出售股票投资的未实现收益 |
(2,553 | ) | 425 | |||||
利息支出 |
(133 | ) | (130) | ) | ||||
其他收入总额 |
(2,662) | ) | 519 | |||||
所得税前收入 |
(829 | ) | 1,469 | |||||
所得税准备金 |
(214 | ) | 266 | |||||
净收入 |
$ | (615) | ) | $ | 1,203 | |||
基本和摊薄后的每股净收益： |
||||||||
每股基本净收益 |
$ | (0.17) | ) | $ | 0.33 | |||
摊薄后的每股净收益 |
$ | (0.17) | ) | $ | 0.33 | |||
已发行普通股的加权平均值： |
||||||||
基本 |
3,546,737 | 3,616,392 | ||||||
稀释 |
3,546,737 | 3,694,959 | ||||||
已发行普通股 |
3,547,330 | 3,606,422 | ||||||
Contact:
联系人：
Richard L. Van Kirk, Chief Executive Officer
(949) 769-3200
首席执行官 Richard L. Van Kirk
(949) 769-3200
SOURCE: Pro-Dex, Inc.
来源： Pro-Dex, Inc.
译文内容由第三方软件翻译。