secwatch.observer — SEC 8-K summary
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Issuer:     PRO DEX INC (PDEX)
CIK:        0000788920
Form:       8-K
Filed at:   2024-02-08T23:59:59+00:00
Accession:  0001079973-24-000182
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Pro-Dex Q2 sales up 12% to $12.6M but net income falls to $500K on investment losses; new buyback launched
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- Net sales increased 12% to $12.6M vs $11.3M a year ago; repair revenue from orthopedic surgical handpiece drove growth.
- Operating income decreased 32% to $777K from $1.1M, as operating expenses rose 36% to $2.0M.
- Net income was $500K ($0.14 diluted EPS) vs $2.8M ($0.75) a year ago, reflecting $40K unrealized investment loss vs $2.7M gain.
- For the six-month period, net loss was $115K ($0.03 loss) vs net income of $4.0M ($1.08) a year ago, impacted by $2.6M unrealized investment loss.
- Company announced a new stock buy-back program and is reducing inventory levels.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/788920/000107997324000182/0001079973-24-000182-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/788920/000107997324000182/pdex_8k.htm
  HTML page:      https://secwatch.observer/filing/0001079973-24-000182

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