Pro-Dex Q4 revenue beats estimates on orthopedic handpiece sales
Pro-Dex Q4 revenue beats estimates on orthopedic handpiece sales
Overview
US medical device maker's fiscal Q4 revenue rose 17% yr/yr on higher orthopedic handpiece sales
Gross profit more than doubled, with gross margin rising to 35% from 20%
Net income for fiscal Q4 was $2.9 mln, or $0.87 per diluted share
Outlook
Company did not provide specific guidance for the upcoming quarter or fiscal year
Result Drivers
NEXT GENERATION HANDPIECE - Co said higher Q4 sales were driven by increased shipments of its largest customer's next generation orthopedic handpiece
FAVORABLE PRODUCT MIX & APM CONTRIBUTION - Gross margin improvement attributed to favorable product mix, better absorption of indirect manufacturing costs, and margins from subsidiary APM
HIGHER OPERATING EXPENSES - Q4 operating expenses rose due to personnel costs, APM administrative expenses, consulting payments, and allowance for uncollectible receivables
Company press release: ID:nACSb74B1a
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q4 Revenue | Beat | $20.41 mln | $19.20 mln (1 Analyst) |
Q4 EPS |
| $0.87 |
|
Q4 Net Income |
| $2.86 mln |
|
Q4 Gross Profit |
| $7.09 mln |
|
Q4 Operating Expenses |
| $3.56 mln |
|
Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy"
Wall Street's median 12-month price target for Pro-Dex Inc is $70.00, about 11.9% above its September 2 closing price of $62.58
The stock recently traded at 23 times the next 12-month earnings vs. a P/E of 22 three months ago
Reuters Recommended Reads
Sept 3 - Sweden's Integrum Q1 sales rise on higher S1 surgeries
Sept 1 - Medtronic's Q1 revenue beats estimates, raises FY outlook
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)