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Pro-Dex Provides Insight Into Fiscal 2013 Operating Plan And Preliminary Results For Fiscal 2012
Date:8/6/2012

IRVINE, Calif., Aug. 6, 2012 /PRNewswire/ -- PRO-DEX, INC. (Nasdaq: PDEX) reported today that it had completed its budget and operating plan for the fiscal year beginning July 1, 2012 and ending June 30, 2013. The Company also reported that it expected to release results for the fourth quarter and fiscal year ended June 30, 2012 on or about August 31, 2012.

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Michael J. Berthelot, Chief Executive Officer of Pro-Dex, said, "In light of the significant challenges facing the Company with the cessation of shipments to our largest customer having occurred in the fourth quarter of fiscal 2012 and the need for us to take fairly significant actions to offset that loss of business, we wanted to report to our shareholders what we are doing to strengthen our Company.  We have anticipated this event for several quarters and while some responses could not be taken until we completed the work for that customer, we have acted quickly and directly."

Mr. Berthelot continued, "As we said at our teleconference in May, we are focused on four critical areas of change which will lead the way for what we believe will be a resurgence in our Company.  Of primary importance, we have focused 100% of our efforts on expanding our leadership in the field of powered rotary-driven surgical instruments for the medical and dental markets.  This represents a change in direction for the Company, which had previously pursued growth in the contract manufacturing industry.  We believe that the higher margins and intellectual property present in the surgical and dental instrument space present far higher value to our shareholders than does the lower margin non-IP centric contract business.  To that end, we have reinvigorated our sales and market
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