New York, November 01, 2024 - PRISM MarketView - Pro-Dex, Inc. (NASDAQ: PDEX) announced strong financial results for its fiscal 2025 first quarter. The company reported a 25% increase in net sales, reaching $14.9 million, driven primarily by increased repairs of a surgical handpiece for its largest customer and the initial shipment of a next-generation handpiece. Gross profit rose by 41%, with margins improving to 35%, up from 31% in the same period last year, due to a favorable product mix.
Operating income surged by 64% to $3.0 million, and net income reached $2.5 million, or $0.75 per diluted share, a significant turnaround from a net loss of $615,000 in the prior year. The improvement in net income includes unrealized gains of $433,000 on marketable equity investments, contrasting with unrealized losses of $2.6 million last year. CEO Rick Van Kirk expressed satisfaction with the results and highlighted plans for production volumes of the new handpiece in the second half of the fiscal year.
Pro-Dex’s strong performance has made it the top gainer on the PRISM Med Devices Index today, with shares up 70% year-to-date, signaling investor confidence in the company’s growth trajectory and product advancements.
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