Pro-Dex has reported its financial results for the first quarter of fiscal 2015.
For the quarter (end-September 30), the company had net sales of $2.6 million, an increase of 2% from $2.5 million for the same period last year. Underlying these relatively stable year-over-year sales levels was a $400,000 increase in sales to the company's largest medical device customer, partially offset by a $183,000 decrease in repair revenue from the company's former largest medical device customer and a $151,000 decrease in sales to another customer.
The company reported a gross profit of $828,000, a 12% decrease compared with $945,000 for the same period a year ago, primarily due to a shift in product mix between periods in which there were comparatively reduced volumes of high-margin product repairs and increased volumes of relatively lower-margin product sales, according to the company.
Pro-Dex specializes in the design, development, and manufacture of powered rotary drive surgical and dental instruments used primarily in the orthopedic, spine, maxocranial facial, and dental markets.
