Pro-Dex Q2 revenue up 11% to $11.3M; net income dips to $879K from $925K

PRO DEX INC

2023-Q2 EPS reported $0.53 revenue$22,369,000

Q2 net sales $11.3M (+11% YoY); net income $879K ($0.24 diluted EPS) vs $925K ($0.25) last year.
Gross profit fell 23% to $2.6M due to component cost inflation and higher repair costs for largest customer's surgical handpiece.
Six-month net sales $22.4M (+11%); net income flat at $2.0M ($0.53 diluted EPS).
Operating expenses declined 18% in Q2 to $1.5M; CEO positive on Franklin facility opening this quarter.
Customer upgrade negotiations ongoing; company seeks compensation for higher-cost repairs.

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 1.0

PRO DEX INC reported financial results for six months ended December 31, 2022.

Period: six months ended December 31, 2022
Result: reported results

Exact text from the filing

On February 2, 2023, Pro-Dex, Inc. (the “Company”) is issuing a press release announcing its financial performance for the second quarter and six months ended December 31, 2022.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

PRO DEX INC reported financial results for second quarter ended December 31, 2022.

Period: second quarter ended December 31, 2022
Result: reported results

Exact text from the filing

On February 2, 2023, Pro-Dex, Inc. (the “Company”) is issuing a press release announcing its financial performance for the second quarter and six months ended December 31, 2022.

View on SEC.gov

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Source: SEC EDGAR

accession 0001553350-23-000063

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