Pro-Dex, Inc. (NASDAQ: PDEX), a developer of miniature rotary drive systems, has announced that its consolidated net sales for the third quarter were $4.2 million, an increase of 30 percent, compared to the $3.2 million reported for the third quarter last year and a 10.8 percent sequential increase, compared to the $3.8 million for the second quarter of the 2006 fiscal year.
Approximately $818,000 of the increase was due to the acquisition of Astromec. On March 30, the company completed the $2.2 million purchase of a 20,000-square-foot industrial building, associated land and related improvements in Carson City, which was a subsequent component of the Astromec acquisition.
For the three months, Pro-Dex's consolidated gross profit decreased 11.4 percent to $1.5 million, or 34.5 percent of sales, compared to $1.6 million, or 50.7 percent of sales, for the same three months in 2005. Total operating expenses for the quarter increased 11.1 percent to $1.4 million, compared to $1.3 million for the three months.
Pro-Dex, Inc. has operations in Santa Ana, Calif.; Beaverton, Ore.; and Carson City.
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