Phoenix, Arizona--(Newsfile Corp. - February 24, 2022) - 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 asking about the Company's background and current projects. "We are a medical device manufacturer in Irvine, California," said Van Kirk, adding that the Company also has a second facility in Tustin, California. "We basically make power tools for the operating room; we have some proprietary technology and we also do some contract manufacturing," he explained. "We have been around for about 40 years."
Jolly then commented on the Company's recent announcement detailing their 2nd quarter sales, and asked about their future outlook moving forward. "We had a little bit over $10 million in revenue for the quarter," said Van Kirk. "Over the last four quarters we are at a $40 million per year run rate, which would be our highest ever."
The conversation then turned to the current COVID-19 challenges the Company faces while operating out of California. "We have not had any type of resignation," said Van Kirk. "We're trying to hire more people," he added, noting that applicants are requesting higher salary requirements than ever before. "We have a really great crew of people who have been very disciplined in following our protocols, and we have not had a lot of missed work."
"Could you give us an update on your new product development?" asked Jolly. "We have landed some new business with existing and new customers for the development of new products or new features on existing products," said Van Kirk. "We're continuing to invest in R&D," he shared. "There are a lot of great things going on in the group."
"Do you have any metrics to show what the growth rate is for new customers?" asked Jolly. "A number of the new projects are with existing customers," said Van Kirk. "It's not new customers per say, but new divisions and new groups and existing customers because we have developed a track record and it is paying off."
Jolly then asked about the Company's progress with repair contracts. "It is still strong and I expect it to remain strong," said Van Kirk. "If anything, the needs or requirements may even increase," he said. "The more products we ship and get out into the world, the more that will eventually need refurbishment or repairs."
"Do you still have a great outlook for the future of Pro-Dex, Inc.?" asked Jolly. "Absolutely," said Van Kirk. "We have made no secret that we have some aggressive plans to grow," he shared. "The absolute belief is that we're going to get to where we want to go, which is a larger technology-driven company that is well-respected and profitable."
To close the interview, Van Kirk thanked listeners and shareholders for their interest and support, and expressed his confidence in the Company as they continue to grow.
To hear Rick Van Kirk's entire interview, follow the link to the podcast here: https://audioboom.com/posts/8037335-pro-dex-inc-discusses-2nd-quarter-sales-and-new-product-development-with-the-stock-day-podcast.
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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 that appeal to our customers, primarily medical device distributors. Pro-Dex also sells compact pneumatic air motors for a variety of industrial applications. 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 risk factors and other disclosures concerning the operational and business concerns of the Company set forth in the Company's filings with the Securities and Exchange Commission.
Pro-Dex, Inc Contact:
2361 McGaw Ave
Irvine, CA 92614
1-800-562-6204
sales@pro-dex.com
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