Phoenix, Arizona--(Newsfile Corp. - June 3, 2021) - The Stock Day Podcast welcomed Pro-Dex, Inc. (NASDAQ: PDEX) ("the Company"), a company that specializes in the design, development, and manufacture of autoclavable, battery-powered and electric, multi-function surgical drivers and shavers used primarily in the orthopedic, thoracic, and maxocranial facial markets. President and CEO of the Company, Rick Van Kirk, joined Stock Day host, Everett Jolly.
Jolly began the interview by commenting on the Company's third quarter results, which included a significant increase in net sales. "How did you get there?" asked Jolly. "We had a record quarter for us," shared Van Kirk. "Our sales revenue was $11.7 million," he continued. "In particular, we purchased a new building and made record shipments while commissioning that, which is why we are so proud," shared Van Kirk. "We couldn't be more pleased with the group for what they did and continue to do."
Jolly then asked about the challenges of the COVID-19 pandemic. "Everyone here has been great," said Van Kirk. "People have been really good about following our protocols," he added. "We are manufacturing, so the majority of people really didn't have the option to work from home, but have been very good about distancing, masks, and keeping their work stations clean," said Van Kirk, adding that the few individuals who are currently working remotely will likely return to the office as California continues to open up.
"What is the status of new products and development going forward?" asked Jolly. "We need to develop and design and get new products into production," said Van Kirk. "Part of the big third quarter was that we launched another CMF driver, and we have a new distribution contract with a large customer," he continued. "We have two more projects that I would say are in the home stretch phase that hopefully we will finish this summer," said Van Kirk, noting that these projects include ENT shaver and ventilator projects. "We've made no secret that we have aggressive growth plans and we need to keep filling the pipeline."
"Why do you need a new building and what is the status of it?" asked Jolly. "We are outgrowing this building, which is a great problem to have," said Van Kirk. "We are going to need the space for additional equipment and people; we are actually out of places for people to sit in this building," he shared. "This has all happened pretty rapidly and we are excited about it. The new building should be physically ready in mid to late June," he continued. "We will actually have some additional capabilities as well."
To close the interview, Van Kirk thanked listeners and shareholders for their support, and expressed his confidence in the potential of the Company as they continue to expand and follow their aggressive growth strategy.
To hear Rick Van Kirk's entire interview, follow the link to the podcast here: https://audioboom.com/posts/7880019-pro-dex-inc-discusses-record-third-quarter-sales-and-aggressive-growth-strategy-with-the-stock.
About Pro-Dex, Inc.:
Pro-Dex, Inc. specializes in the design, development, and manufacture of autoclavable, battery-powered and electric, multi-function surgical drivers and shavers used primarily in the orthopedic, thoracic, and maxocranial facial markets. We have patented adoptive torque-limiting software and proprietary sealing solutions which appeal to our customers, primarily medical device distributors. Pro-Dex also manufactures and sells rotary air motors to a wide range of industries. Pro-Dex's products are found in hospitals and medical engineering labs around the world. For more information, visit the Company's website at www.pro-dex.com.
Statements herein concerning the Company's plans, growth, and strategies may include 'forward-looking statements' within the context of the federal securities laws. Statements regarding the Company's future events, developments, and future performance (including, but not limited to, estimated product launch dates and estimated future revenue), as well as management's expectations, beliefs, plans, estimates, or projections relating to the future, are forward-looking statements within the meaning of these laws. The Company's actual results may differ materially from those suggested as a result of various factors. Interested parties should refer to the disclosure concerning the operational and business concerns of the Company set forth in the Company's filings with the Securities and Exchange Commission.
Richard L. Van Kirk
Chief Executive Officer
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