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16,714,000
16,675,000Accumulated deficit
(8,318,000)
(9,060,000)Total shareholders’ equity
8,396,000
7,615,000Total liabilities and shareholders’ equity
$
2,732,000
$ 14,279,000PRO-DEX, INC. and SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF INCOME For The Three Months Ended December 31, (unaudited) 2010
2009Net sales
$ 6,157,000
$ 5,696,000Cost of sales
3,733,000
3,696,000Gross profit
2,424,000
2,000,000Operating expenses:Selling expenses
351,000
353,000General and administrative expenses
897,000
799,000Impairment of intangible asset
-
140,000Research and development costs
605,000
576,000Total operating expenses
1,853,000
1,868,000Income from operations
571,000
132,000Other income (expense):Royalty income
-
2,000Interest expense
(22,000)
(53,000)Total other income (expense)
(22,000)
(51,000)Income before provision (benefit) for income taxes
549,000
81,000Provision (benefit) for income taxes
148,000
(499,000)Net income
$
401,000
$
580,000Net income per share:Basic
$
.12
$
.18Diluted
$
.12
$
.18Weighted average shares outstanding - basic
3,263,437
3,222,890Weighted average shares outstanding - diluted
3,272,152
3,231,839PRO-DEX, INC. and SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF INCOMEFor the Six Months Ended December 31, (unaudited)2010
2009Net sales
$ 11,986,000
$ 11,329,000Cost of sales
7,378,000
7,456,000Gross profit
4,608,000
3,873,000Operating expenses: Selling exp
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