Pro-Dex Q4 Revenue Beats Estimates on Orthopedic Handpiece Sales
PDEX has more than doubled off its 52-week low of $23.47.
Summary
Pro-Dex reported fiscal Q4 revenue of $20.41 million, beating the single-analyst consensus of $19.20 million and up 17% year-over-year. Gross margin more than doubled to 35% from 20%, driven by favorable product mix and contribution from the APM subsidiary. Net income was $2.9 million, or $0.87 per diluted share. The company did not provide specific guidance for the upcoming quarter or fiscal year. This follows the 8-K filed on August 28 disclosing performance bonuses for the CEO and CFO, and the activist investor group holding over 31% of shares. The stock trades at 23 times forward earnings, with a median price target of $70.
At the time of this announcement, PDEX was trading at $65.00 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $197.2M. The 52-week trading range was $23.47 to $69.86. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.