Company: PDEX
Filing Date: 2025-01-30
Form Type: 10-Q
Source: 0001079973-25-000164
Chunk: 22

Company: PRO DEX INC
Filing Date: 2025-01-30
Form: 10-Q
Item: Item 2
Chunk 22
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%, and $352,000 or 8%, respectively for the three and six months ended December 31, 2024 compared to the corresponding
period of the prior fiscal year. Our thoracic sales increased $410,000, or 63% and $89,000 or 5%, respectively for the three and six months
ended December 31, 2024 compared to the corresponding period of the prior fiscal year. While we do not have much visibility into our customers’
distribution networks, this level of change in thoracic and CMF sales (whether an increase or decrease) is not uncommon and fluctuations
occur based upon required inventory levels.

Sales
of our compact pneumatic air motors, reported as “Industrial and scientific”
sales above, decreased $72,000, or 30%, and $69,000, or 18%, respectively, for the three and six months ended December 31, 2024, compared
to the corresponding periods of the prior fiscal year. These are legacy products with no substantive marketing efforts and, as such, we
may continue to see a decline in revenue from these products. Our non-recurring (“NRE”) and proto-type revenue decreased $297,000,
or 88%, and $439,000, or 83%, for the three and six months ended December 31, 2024, compared to the corresponding periods of the prior
fiscal year, due to a decrease in billable contracts for various NRE projects undertaken for our customers.

18 

Repair
revenue increased $1.6 million, or 48%, and $2.7 million, or 37%, respectively, for the three and six months ended December 31, 2024,
compared to the corresponding periods of the prior fiscal year, primarily due to an increased number of repairs of the orthopedic handpiece
we sell to our largest customer. This increase relates to the continuation of the previously disclosed enhanced repair program. 

At
December 31, 2024, we had a backlog of approximately $48.1 million, of which $36.3 million is scheduled to be delivered in fiscal 2025
and the balance is scheduled to be delivered the following fiscal year. Our backlog represents firm purchase orders received and
acknowledged from our customers and does not include all revenue expected to be generated from existing customer contracts. We
may experience variability in our new order bookings due to various reasons, including, but not limited to, the timing