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PRO-DEX, INC. Announces Fiscal First Quarter 2010 Profit, Update on Business Development Activities, and Renewal of Banking Agreement
Date:10/29/2009

------ Weighted average shares outstanding - basic 9,668,671 9,783,407 --------- --------- Weighted average shares outstanding - diluted 9,675,437 9,783,407 ------------------------------------- --------- --------- PRO-DEX, INC. and SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS Three months ended September 30 (unaudited) 2009 2008 ---- ---- Cash Flows from Operating Activities: Net income (loss) $183,000 $(118,000) Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 185,000 222,000 (Recovery) of provision for doubtful accounts (6,000) (14,000) Stock based compensation 35,000 42,000 (Decrease) in deferred taxes - (5,000) Changes in: (Increase) in accounts receivable (343,000) (122,000) (Increase) Decrease in inventories (167,000) 461,000 (Increase) in prepaid expenses (29,000) (50,000) Decrease in other assets - 5,000 Increase (decrease) in accounts payable and accrued expenses 547,000 (756,000) Increase (decrease) in income taxes payable 4,000 (124,000) ----- -------- Net Cash provided (used) by Operating Activities 409,000 (459,000)
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SOURCE Pro-Dex, Inc.
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