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 nine months ended March 31, 2023 results: revenue $35.4 million, net income $3.3 million, EPS $0.89, per diluted share.
- Period
- nine months ended March 31, 2023
- Revenue
- $35.4 million
- Net income
- $3.3 million
- EPS
- $0.89, per diluted share
- Result
- reported results
Exact text from the filing
Net sales for the nine months ended March 31, 2023, increased $6.0 million, or 20%, to $35.4 million from $29.4 million for the nine months ended March 31, 2022, due to increased repair revenue of $4.3 million related to the enhanced repair program described above, as well as an increase of $1.5 million in billable non-recurring engineering projects. Gross profit for the nine months ended March 31, 2023, decreased $299,000, or 3%, compared to the same period in fiscal 2022. The gross profit decline for the nine months ended March 31, 2023, is due in part to the enhanced repair program described above, which includes the advance replacement of many costly components of the handpiece, as well as higher costs across much of our supply chain. Operating expenses (which include selling, general and administrative, and research and development expenses) for the nine months ended March 31, 2023, decreased 9% to $5.2 million from $5.7 million in the prior fiscal year’s corresponding period, mos
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Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
PRO DEX INC reported third quarter ended March 31, 2023 results: revenue $13.1 million, net income $1.3 million, EPS $0.36 per diluted share.
- Period
- third quarter ended March 31, 2023
- Revenue
- $13.1 million
- Net income
- $1.3 million
- EPS
- $0.36 per diluted share
- Result
- reported results
Exact text from the filing
Net sales for the three months ended March 31, 2023, increased $3.8 million, or 41%, to $13.1 million from $9.3 million for the three months ended March 31, 2022, due primarily to increased repair revenue of $3.2 million related to an enhanced repair program launched this fiscal year to upgrade the handpiece we sell our largest customer to its most current generation. Gross profit for the three months ended March 31, 2023, increased $953,000, or 33%, to $3.8 million from $2.9 million for the same period in fiscal 2022. The gross profit increase is consistent with our increase in net sales and is benefited by our resolution and agreement with our largest customer related to previously upgraded repairs. Additionally, we have continued to experience higher costs across much of our supply chain. Operating expenses (which include selling, general and administrative, and research and development expenses) for the quarter ended March 31, 2023, decreased slightly, by 5%, compared to the same p
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