Pro-Dex(US:PDEX)2024-10-31 20:02Financial Performance - Net sales for Q1 FY2025 increased by $3.0 million, or 25%, to $14.9 million compared to $11.9 million in Q1 FY2024[2] - Gross profit for Q1 FY2025 rose by $1.5 million, or 41%, with a gross margin increase of 4 percentage points to 35%[3] - Operating income for Q1 FY2025 increased by $1.2 million, or 64%, to $3.0 million compared to $1.8 million in the prior year[5] - Net income for Q1 FY2025 was $2.5 million, or $0.75 per diluted share, compared to a net loss of $615,000, or $0.17 per diluted share, in Q1 FY2024[6] - Unrealized gains on marketable equity investments contributed $433,000 to net income in Q1 FY2025, contrasting with unrealized losses of $2.6 million in Q1 FY2024[6] Operating Expenses - Operating expenses for Q1 FY2025 increased by $312,000, or 17%, to $2.1 million, primarily due to higher personnel costs and bonus accruals[4] Cash and Assets - Cash and cash equivalents as of September 30, 2024, were $3.1 million, up from $2.6 million at June 30, 2024[9] - Total assets increased to $54.3 million as of September 30, 2024, compared to $52.5 million at June 30, 2024[9] - Total shareholders' equity remained stable at $30.9 million as of September 30, 2024, compared to $30.9 million at June 30, 2024[9] Future Expectations - The company expects to ship production volumes of the new handpiece during the second half of FY2025[7]