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Pro-Dex, Inc. Announces Fiscal 2013 Fourth Quarter And Full-Year Results
Date:9/25/2013

net cash provided by (used in) operating activities:Depreciation and amortization

582,000

647,000Allowance for doubtful accounts

8,000

9,000Share-based compensation

100,000

108,000Changes in:Accounts receivable and other receivables

325,000

1,428,000Unbilled receivables

(244,000)

—Inventories

(1,043,000)

912,000Prepaid expenses

14,000

(26,000)Other assets

(27,000)

7,000Accounts payable, accrued expenses and deferred rent

69,000

(1,503,000)Deferred revenue

121,000

20,000Income taxes receivable and payable

608,000

(641,000)Net cash provided by (used in) operating activities

(1,271,000)

45,000Cash flows from investing activities:Purchase of equipment

(86,000)

(341,000)Proceeds from sale of equipment

82,000Purchase in investments

(366,000)

—Net cash used in investing activities

(452,000)

(259,000)Cash flows from financing activities:Principal payments on bank term loan

(775,000)

(357,000)Repurchase of stock options

(6,000)Proceeds from exercise of stock options

66,000

—Net cash used in financing activities

(709,000)

(363,000)Net decrease in cash

(2,432,000)

(577,000)Cash, beginning of year

4,112,000

4,689,000Cash and cash equivalents, end of year

$1,680,000

$   4,112,000Supplemental InformationCash paid for interest

$
37,000Cash paid for income taxes

$
9,000

$
56,000Supplemental Non-Cash InformationIn February 2013, the Company entered into a capital lease agreement for the acquisition of equipment having a cost of $22,000
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SOURCE Pro-Dex, Inc.
Copyright©2012 PR Newswire.
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