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Pro-Dex, Inc. CEO, Rick Van Kirk Discusses Company Updates with Everett Jolly on Uptick Newswire’s “Stock Day” Podcast
PHOENIX, Aug. 08, 2018 (GLOBE NEWSWIRE) -- Pro-Dex, Inc. (OTCQB:PDEX) (the “Company”) announced CEO, Rick Van Kirk’s interview on Uptick Newswire’s “Stock Day” Podcast.
Jolly began the interview by welcoming Pro-Dex, Inc. CEO, Rick Van Kirk back to the show. Jolly said he thought the Company is grossly undervalued because the market caps are around $27 million, but the revenues are around $20-21 million. A typical market cap should be 2-3 times the revenues. So, the market cap should be around $81 million.
Jolly said, “You guys have about 40,000 products. Some of your biggest clients are Boeing, NASA, Medtronics. You guys have been around for 4 decades. And correct me if I’m wrong, last quarter, you guys did about $5.5 million in revenue.”
Van Kirk responded, “Yes, that sounds right to me.”
“So, what is the status of Pro-Dex’ branded products that we’ve been following?”
It’s good news because the Company is in production, machining parts, getting ready to assemble things together, but even better news is that they very recently signed a development and supply deal with one of the major medical device companies to supply that product. They’re actually going to private label it for them, so there’s some engineering work involved. They’re very pleased because it’s a great partner.
Jolly said that the Company is kind of a turn-key company in that they do everything in-house. “So, bring us up-to-date on the day-to-day. Do you have companies calling you up and saying, ‘Hey, we’ve got this idea. Can you make this product for us?’”
Van Kirk said, “Yes, that happens.” However, he emphasized that they also provide suggestions on design or perhaps even do some of the engineering, can assist with FDA approvals and validate products. “So, we can do anything from soup to nuts or we can take someone’s drawing and say, ‘Absolutely, we can make this for you!’ And then we get right on it.”
“Of the $5.5 million in revenue in the first quarter, can you break it down for me? What was domestic and what was international?”
Van Kirk thinks it was probably all domestic because they’re not really doing a lot of shipping overseas yet. The product they’re currently developing was recently approved for overseas shipment. So, he believes they’ll start to see more in international shipment during this next fiscal year, which began July 1st.
In closing, Van Kirk said the Company really wants to focus on the medical device business which is doing very well and they want to leverage on that success. It’s a good time to be involved with Pro-Dex, Inc., so if any potential investors have any questions, please feel free to give Van Kirk a call.
For more information about the Company’s financial details, listen to the full interview at the link below:
Pro-Dex, Inc., has been in business for over 40 years with our corporate headquarters located in Irvine, California. We have successfully collaborated with several of the world’s largest providers of medical and dental products, as well as other industries, proving our credibility through our responsiveness and flexibility.
Today, we continue to offer our outsourcing services nationwide and beyond. While we have built our business around product design, development and manufacturing work for OEMs, our expertise has evolved. Our broad range of support provides customers with the leverage needed to attain world-class capabilities.
Our specialized services span across many disciplines from mechanical and electrical engineering, electronics and software, quality and compliance, and contract manufacturing, as well as engineering staffing and consulting. In addition, we have a division that can support your motion control needs. This type of support (under the umbrella of one company) permits the fluid workflow you need. These services are provided across a variety of industries.
Pro-Dex knows and understands design and precision manufacturing across multiple industries and for multiple applications.Our suite of services caters to manufacturers in highly regulated industries with specialized needs.
Pro-Dex is a vertically integrated high precision cross-industry contract manufacturer with off-the-shelf product solutions and unparalleled engineering capabilities to get you to market faster. We are a “World leader in finished device manufacturing & design.”
From concept through production and every step in-between, whatever your needs, we are your full-service turn-key provider. At Pro-Dex, we are agile, adaptive and ready to offer you powerful solutions.
Together, we can support your strategic priorities to allow you to control your operating costs and increase your profitability. Experience faster production launches and incoming revenue streams, reduced risk and assurance that your project will meet quality and compliance requirements. Outsourcing will allow you to improve efficiency, maximize use of your internal resources and reduce strain on your organization.
Safe Harbor Act andForward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Additional information concerning these and other risk factors are contained in the Company’s most recent filings with the Securities and Exchange Commission. The Company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.
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