World News: 13:00 GMT Thursday 6th December 2018. [Pro-Dex, Inc. via Globe Newswire via SPi World News]
PHOENIX, Dec. 06, 2018 (GLOBE NEWSWIRE) -- hosts Pro-Dex, Inc. (NASDAQ: PDEX) (the company) on their Stock Day Podcast. The Company specializes in the design, development, and manufacture of autoclavable, battery-powered and electric, multi-function surgical drivers and shavers used primarily in the orthopedic and maxocranial facial markets. CEO Richard L. Van Kirk talked with Stock Day’s Everett Jolly.
At the start of the interview Jolly mentioned that some clients of Pro-Dex are NASA and Boeing and said companies like that added to their bottom line of $6.9 million this quarter. He asked how the company got there and if it was sustainable. Van Kirk said it was a great quarter for the company.
“These were record numbers for us and our job is to make sure they are sustainable. We were fortunate that some existing customers, their requirements were increasing, and we’ve worked really hard in terms of capacity to keep up with that,” Van Kirk explained. “We’ve got some new products that are starting to take hold in the field, as they get used in hospitals, doctors like them more and more and our customers end up buying more product to support them.”
Van Kirk went on to say that they are really pleased with the momentum of the company and said they expect more strong quarters in the future. Jolly then said that Pro-Dex designs, develops, and manufactures power, surgical and dental instruments. He said they probably have anywhere from 10,000 to 20,000 different SKU’s (stock keeping units) then he asked how they plan to drive growth.
“We have a several pronged approach here,” said Van Kirk. “We are continuing to develop new products and some technology in addition to that, new accessories to our current products. Things that other people have not be able to develop or supply yet. So, we think that will make us even more competitive out in the marketplace.”
He went on to say they are strengthening their sales and business development group. He also said he wanted to emphasize the company’s ability to provide engineering, QA and regulatory services.
“Start-ups and even some of the big companies may not have the resources available to design a product or design for a manufacturing product or an FDA registration and we have been able to help people with that,” he said.
Jolly then turned the conversation to M and A and any other opportunities out there. Van Kirk said there is nothing specifically on the radar but the company remains opportunistic.
“We certainly have some flexibility now where we can make a move if we need to.” He added, “We have tried that in the past and we learned a lot from the experience and we are to the point now, if and when we do something it will be smarter and more strategic and more complementary with what we are doing here. We talk about things from time to time but there is nothing really in motion at the moment.”
Next Jolly mentioned that Van Kirk and some others on the board of directors sold some stock, he asked if Van Kirk cared to comment.
“The price is doing pretty well, as we all know, I had an opportunity to pay off some student loans and save myself some big interest payment later on. I just pulled a little bit out to handle that. Nothing to be read into, still bullish on the company,” he explained.
Van Kirk went on to say this is a good time to be part of Pro-Dex.
“We have some momentum going, we plan to keep it going. We have some aggressive plans and that’s why we are bolstering our sales department.” He continued, “We are on the right track and expect to have a nice long successful run.”
To hear the entire interview, listen to the Stick Day podcast here:
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, 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(949) 769-3200
Founded in 2013, Uptick Newswire is the fastest growing media outlet for Nano-Cap and Micro-Cap companies. It educates investors while simultaneously working with penny stock and OTC companies, providing transparency and clarification of under-valued, under-sold Micro-Cap stocks of the market. Uptick provides companies with customized solutions to their news distribution in both national and international media outlets. Uptick is the sole producer of its “Stock Day” Podcast, which is the number one radio show of its kind in America. The Uptick Network “Stock Day” Podcast is an extension of Uptick Newswire, which recently launched its Video Interview Studio located in Phoenix, Arizona.
Globe Newswire: 13:00 GMT Thursday 6th December 2018
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