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Pro-Dex, Inc. Announces Results of Annual Shareholder Meeting, an Update Regarding Major Customer's Product Development Plans, and Receipt of $1.5 Million and $3.0 Million Purchase Orders
Date:12/11/2009

ber 30, 2009).

On December 4, 2009, the Customer placed a $1.5 million purchase order with the Company for delivery of the second product at historical monthly quantities through September, 2010. The Customer also stated that it expects to continue to buy some volume of these products from the Company beyond those dates as its initial success is not assured, certain markets may not adopt the Customer's design, and regulatory registration in certain markets is a lengthy process. Further, the Customer indicated that it will continue to rely on the Company for the repair of Company manufactured units in the field. Such repairs represented 12% (approximately $914,000) of its total purchases for the 12-month period ended November 30, 2009.

The design and production of these products is quite technologically challenging, as such devices are exposed to extremely harsh surgical and sterilization conditions. A different large customer of the Company pursued a similar course of action several years ago and ultimately canceled its in-sourcing project, continuing its purchases from Pro-Dex. The Customer currently pursuing this course has indicated a high commitment to proceeding cautiously. Accordingly, the actual occurrence of, and certainly the specific timing of any transition is very difficult to estimate.

The Company intends to find additional business and reduce its operating costs as necessary to minimize the impact of a potential revenue reduction. In the event that the Customer's future purchases are reduced beyond the additional business won and the cost savings realized, the Company is likely to experience a material and adverse impact on its business.

The Company has no commitment from the Customer that it will update the Company with the status of its product development efforts and the Customer has no obligation to do so. Accordingly, the Company is unable to know or predict the status of the Customer's initi
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SOURCE Pro-Dex, Inc.
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