Pro-dex ( (PDEX) ) has released its Q1 earnings. Here is a breakdown of the information Pro-dex presented to its investors.
Pro-Dex, Inc., a company specializing in the design, development, and manufacture of powered surgical instruments primarily for the orthopedic, thoracic, and cranio-maxillofacial markets, has reported its earnings for the quarter ended September 30, 2024. The company, based in Irvine, California, also produces rotary air motors for industrial and scientific applications.
In its latest quarterly earnings report, Pro-Dex, Inc. highlighted a significant increase in net sales, reporting $14.9 million in net revenue, up from $11.9 million in the same period last year. The increase in sales was primarily driven by growth in the company’s medical device segment, which saw a 27% rise in sales compared to the previous year.
Key financial metrics include a gross profit of $5.15 million, up from $3.66 million, and an operating income of $3.01 million. The company also reported a net income of $2.47 million, a substantial improvement from a net loss of $615,000 in the prior year. This positive performance was attributed to increased sales of orthopedic and cranio-maxillofacial devices, as well as improved cost management.
Looking ahead, Pro-Dex, Inc. aims to continue expanding its product offerings and manufacturing capacity. The company plans to leverage its patented technologies and strategic relationships with major medical device distributors to drive future growth. Management remains optimistic about the company’s prospects, focusing on maintaining strong customer relationships and investing in research and development to support long-term success.
