Pro-Dex Q1 FY2024 net loss $615k; sales up 8% to $11.9M; includes $2.6M unrealized loss on investment

PRO DEX INC

2024-Q1 EPS reported -$0.17 revenue$11,938,000

Net loss of $615k ($0.17 diluted) vs net income of $1.2M ($0.33) in prior-year quarter.
Net sales rose 8% to $11.9M; driven by $1.8M increase in handpiece repairs, offset by $0.7M drop in NRE.
Gross margin improved 4 ppts to 31% due to absence of $450k repair costs from prior year.
Unrealized loss on investments of $2.6M (mainly Monogram Orthopaedics warrant) caused the net loss.
CEO cited $1.1M in new Thoracic driver product sales and completion of Franklin facility transition.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

PRO DEX INC reported fiscal 2024 first quarter ended September 30, 2023 results: revenue $11.9 million, net income net loss of $615,000, or $0.17 per diluted share.

Period: fiscal 2024 first quarter ended September 30, 2023
Revenue: $11.9 million
Net income: net loss of $615,000, or $0.17 per diluted share
Result: reported results

Exact text from the filing

the first quarter of fiscal year 2024 with the Securities and Exchange Commission today. 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

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Source: SEC EDGAR

accession 0001079973-23-001523

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