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.
加利福尼亞州爾灣/ACCESSWIRE /2023 年 11 月 2 日/ PRO-DEX, INC.納斯達克股票代碼：PDEX）今天公佈了截至2023年9月30日的2024財年第一季度的財務業績。該公司還於今天向美國證券交易委員會提交了2024財年第一季度的10-Q表季度報告。
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日的三個月，淨銷售額從截至2022年9月30日的三個月的1110萬美元增長了85.1萬美元，增幅8％，至1190萬美元。增長的主要原因是我們向最大客戶銷售的手術手柄的維修費用增加了180萬美元，這主要被我們的NRE和原型機銷售額下降70萬美元所抵消。
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日的三個月，毛利與去年同期相比增長了70.2萬美元，增長了24％。在截至2023年9月30日的三個月中，毛利率增長了4個百分點，達到31％，而去年同期爲27％，這主要是由於上一年度的銷售成本包括大約45萬美元的維修成本，用於升級我們向最大客戶出售的手機，而無需支付額外費用。在本財年，我們沒有類似的支出。
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，運營支出（包括銷售、一般和管理以及研發費用）比去年同期減少了18.1萬美元。減少的原因是研發費用減少，因爲與上一財年同期相比，我們在2024財年第一季度與內部開發項目相關的支出減少了。
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日的季度淨虧損爲61.5萬美元，攤薄每股虧損0.17美元，而截至2022年9月30日的季度淨收益爲120萬美元，攤薄每股虧損0.33美元。我們的淨虧損包括截至2023年9月30日的季度中270萬美元的非運營支出，主要包括260萬美元的未實現投資虧損。大部分未實現的投資虧損與我們購買Monogram Orthopaedics Inc.（納斯達克股票代碼：MGRM）普通股的認股權證有關，該公司截至2023年9月30日的第一季度的估計公允價值減少了250萬美元，但截至2023年9月30日，其估計公允價值仍爲370萬美元。我們的投資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
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."
公司總裁兼首席執行官理查德·L.（“Rick”）Van Kirk評論說：“我們對第一季度的業績感到滿意，並很高興與大家分享截至2023年9月30日的第一季度的銷售額，包括與胸腔驅動器產品線推出新產品相關的約110萬美元。”範柯克先生總結道：“我們相信，隨着我們的裝配和維修業務完全過渡到富蘭克林工廠，我們有望實現持續的長期增長。”
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 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. 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刀和剃鬚刀，主要用於整形、胸腔和上顱面部市場。我們擁有采用扭矩限制軟件和專有密封解決方案的專利，這些解決方案吸引了我們的客戶，主要是醫療設備分銷商。Pro-Dex 還銷售適用於各種工業應用的緊湊型氣動氣動馬達。Pro-Dex 的產品遍佈世界各地的醫院和醫學工程實驗室。欲了解更多信息，請訪問該公司的網站，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, 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”。根據這些法律的規定，有關公司未來事件、發展和未來業績的陳述，以及管理層對未來的期望、信念、計劃、估計或預測，均爲前瞻性陳述。由於各種因素，公司的實際業績可能與建議的業績存在重大差異。利益相關方應參考公司向證券交易委員會提交的文件中列出的與公司運營和業務問題有關的風險因素和其他披露。
(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
簡明的合併資產負債表
（未經審計）
（以千計，股票金額除外）
| 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
|
|||||||
資產 |
||||||||
流動資產： |
||||||||
現金和現金等價物 |
$ | 1,904 | $ | 2,936 | ||||
投資 |
1,010 | 1,134 | ||||||
截至2023年9月30日和2023年6月30日分別扣除0美元的信貸損失備抵後的應收賬款 |
11,034 | 9,952 | ||||||
遞延費用 |
591 | 494 | ||||||
應收所得稅 |
420 | - | ||||||
庫存 |
16,264 | 16,167 | ||||||
預付費用和其他流動資產 |
201 | 296 | ||||||
流動資產總額 |
31,424 | 30,979 | ||||||
土地和建築物，淨額 |
6,226 | 6,249 | ||||||
設備和租賃權改進，淨額 |
4,952 | 5,079 | ||||||
使用權資產，淨額 |
1,774 | 1,872 | ||||||
無形資產，淨值 |
75 | 81 | ||||||
投資 |
5,092 | 7,521 | ||||||
其他資產 |
42 | 42 | ||||||
總資產 |
$ | 49,585 | $ | 51,823 | ||||
負債和股東權益 |
||||||||
流動負債： |
||||||||
應付賬款 |
$ | 2,740 | $ | 2,261 | ||||
應計負債 |
2,701 | 3,135 | ||||||
應繳所得稅 |
- | 453 | ||||||
應付票據 |
2,840 | 3,827 | ||||||
流動負債總額 |
8,281 | 9,676 | ||||||
租賃負債，扣除流動部分 |
1,529 | 1,638 | ||||||
遞延所得稅，淨額 |
8 | 8 | ||||||
應付票據，扣除流動部分 |
8,572 | 8,911 | ||||||
非流動負債總額 |
10,109 | 10,557 | ||||||
負債總額 |
18,390 | 20,233 | ||||||
股東權益： |
||||||||
普通股；無面值；已授權5000萬股；截至2023年9月30日和2023年6月30日分別已發行和流通3,547,330股和3545,309股 |
6,987 | 6,767 | ||||||
留存收益 |
24,208 | 24,823 | ||||||
股東權益總額 |
31,195 | 31,590 | ||||||
負債和股東權益總額 |
$ | 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
簡明合併運營報表
（未經審計）
（以千計，股票和每股金額除外）
| 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日的三個月 | ||||||||
| 2023 | 2022 | |||||||
| （經重述） | ||||||||
淨銷售額 |
$ | 11,938 | $ | 11,087 | ||||
銷售成本 |
8,280 | 8,131 | ||||||
毛利 |
3,658 | 2,956 | ||||||
運營費用： |
||||||||
銷售費用 |
25 | 53 | ||||||
一般和管理費用 |
995 | 1,024 | ||||||
研究和開發成本 |
805 | 929 | ||||||
運營費用總額 |
1,825 | 2,006 | ||||||
營業收入 |
1,833 | 950 | ||||||
其他收入（支出）： |
||||||||
利息和股息收入 |
24 | 218 | ||||||
出售有價股票投資的已實現收益 |
- | 6 | ||||||
可出售股票投資的未實現收益 |
(2,553 | ) | 425 | |||||
利息支出 |
(133 | ) | (130) | ) | ||||
其他收入總額 |
(2,662) | ) | 519 | |||||
所得稅前收入 |
(829 | ) | 1,469 | |||||
所得稅準備金 |
(214 | ) | 266 | |||||
淨收入 |
$ | (615) | ) | $ | 1,203 | |||
基本和攤薄後的每股淨收益： |
||||||||
每股基本淨收益 |
$ | (0.17) | ) | $ | 0.33 | |||
攤薄後的每股淨收益 |
$ | (0.17) | ) | $ | 0.33 | |||
已發行普通股的加權平均值： |
||||||||
基本 |
3,546,737 | 3,616,392 | ||||||
稀釋 |
3,546,737 | 3,694,959 | ||||||
已發行普通股 |
3,547,330 | 3,606,422 | ||||||
Contact:
聯繫人：
Richard L. Van Kirk, Chief Executive Officer
(949) 769-3200
首席執行官 Richard L. Van Kirk
(949) 769-3200
SOURCE: Pro-Dex, Inc.
來源： Pro-Dex, Inc.
譯文內容由第三人軟體翻譯。