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Pro-Dex, Inc. Announces Fiscal Second Quarter 2010 Results
Date:2/4/2010

IRVINE, Calif., Feb. 4 /PRNewswire-FirstCall/ -- PRO-DEX, INC. (Nasdaq: PDEX) today announced its financial results for the fiscal second quarter 2010, the period ending December 31, 2009.  

Sales for the second quarter ended December 31, 2009, increased 9% to $5.7 million compared to $5.2 million for the previous year's second quarter, due to continued increases in medical device sales.  The higher medical device sales were substantially driven by the new arthroscopic surgical hand-piece that began shipping at the end of the first fiscal quarter.  Net income for the second quarter was $580,000 or $0.06 per share compared to a net income of $81,000 or $0.01 per share for the previous year's second quarter.  

Gross profit for the quarter ended December 31, 2009, increased to $2.0 million, a 35% gross profit margin, compared to gross profit of $1.9 million or 37% gross profit margin in last year's second quarter.  The profit increase was consistent with the increased sales; however the gross profit margin was reduced due to a lower margin mix of products.

Operating expenses for the second quarter (excluding the impairment charge discussed below) declined due to cost saving measures implemented last year.  The cost savings measures were primarily structurally decreased labor expenses.

Included in this quarter's net income were two non-recurring events:

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SOURCE Pro-Dex, Inc.
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