Pro-Dex Q1 net sales $10.0M (+16% YoY); diluted EPS $0.28 vs $0.29

PRO DEX INC

2022-Q1 EPS reported $0.28 revenue$9,988,000

Net sales $10.0M for Q1 FY2022 ended Sep 30, 2021, up 16% from $8.6M a year ago.
Net income $1.1M ($0.28 diluted EPS) versus $1.2M ($0.29) in prior-year quarter.
Gross margin fell 6 points to 34% due to unfavorable product mix; gross profit down 1%.
Operating expenses rose $184k, driven by stock option compensation expense.
CEO noted NRE projects from new/existing customers and validation activities for new Franklin facility.

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