PRO-DEX REPORTS RECORD YEAR-END REVENUES AND EARNINGS
PRO-DEX REPORTS RECORD YEAR-END REVENUES AND EARNINGS CITRUS HEIGHTS, Calif., Sept. 2 /PRNewswire/ -- Pro-Dex Inc.
(NASDAQ: PDEX), a dental management company specializing in infection control products for the dental industry, reported today net income of $278,625 or $.08 per share on revenues of $5,260,459 for the fiscal year ended June 30, 1992, an increase of 32 percent over last year's revenues and a 47 percent increase over last year's net income.
For the fourth quarter ended June 30, 1992, Pro-Dex reported revenues of $1,633,579 vs. $1,064,575 for last year's fourth quarter. Net income of $162,455 or $.05 per share for the quarter compares to $16,960 or $.01 per share for the same period last year. These figures show a continued increase over this year's third quarter in which the company reported revenues of $1.3 million and net income of $125,000 or $.04 per share. "This continued strong performance indicates the growing acceptance of our infection control products as well as the stimulation in the overall market spurred by recent news stories regarding patients contracting viruses from dental procedures and the resulting regulatory changes in the dental industry," said Kent Searl, Pro-Dex president. "The timing of our entry into this market could not have been better. With our growing product line covering a wide spectrum of products in this category we are poised to be a major beneficiary in this market which is expanding through government regulation and public awareness." Pro-Dex dental centers have continued their turnaround assisted by all five centers being added as providers for Denti-Cal, the California State Welfare Program. This has begun to increase patient count at all locations. In addition, Pro-Dex dental centers have been accepted by Denti-Cal to provide orthodontics services. This is expected to bring in as many as 60 new cases to review monthly. "Orthodontics provide a higher profit margin than basic dental services which are now beginning to increase the centers' profitability," said Searl. PRO-DEX INC. Year-End Revenues and Earnings (Unaudited) Quarter Ended Fiscal Year End June 30, June 30, 1992 1991 1992 1991 Revenues $1,633,579 $1,064,575 $5,260,459 $3,958,091 Total net income $162,455 $16,960 $278,625 $189,985 Net income per share $0.05 $0.01 $0.08 $0.07 Weighted average number of common shares outstanding 3,534,985 2,718,500 3,534,985 2,718,500 Pro-Dex Inc. leases, equips and staffs five dental centers in Sacramento-area Sears retail stores. Through its wholly owned subsidiary, Biotrol International Inc., Pro-Dex manufactures and markets a full line of infection control products specifically designed for the dental care provider, including barrier protection items, disinfectants, cleaners and deodorizers for surfaces, instruments and vacuum systems, and skin care products. Biotrol will soon be adding a disposable gown and a new handcare line. -0- 9/2/92 /CONTACT: Shannon T. Squyres, investor relations, of Corporate Relations Group, 714-955-1860, for Pro-Dex/ (PDEX) CO: Pro-Dex Inc. ST: California IN: HEA SU: ERN
BP-LS -- LA004 -- 5769 09/02/92 09:03 EDT
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|Date:||Sep 2, 1992|
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