Navigation Links
Dynatronics' Acquisitions Increase Sales 91 Percent in First Quarter
Date:11/19/2007

SALT LAKE CITY, Nov. 19 /PRNewswire-FirstCall/ -- Dynatronics Corporation (Nasdaq: DYNT) today announced results for its first fiscal quarter ended September 30, 2007.

Sales for the quarter were up 91 percent to $7,891,430, compared to $4,139,057 in the prior year period. The increase in sales was primarily due to the acquisition of six of the company's top independent distributors on June 30, 2007, and July 2, 2007.

"We're pleased with this increase in sales," stated Kelvyn H. Cullimore Jr., chairman and president of Dynatronics. "Not only did we enjoy a strong increase in rehab sales from the acquisitions, but our aesthetic sales rose 81 percent for the quarter compared to the same quarter last year. In addition, the acquisitions contributed to a 97 percent increase in gross profit over the same period of the previous year."

Non-recurring items and costs related to the recent acquisitions estimated at $1.1 million in the quarter contributed to the net loss for the quarter of $712,203 ($.05 per share), compared to a net loss of $175,008 ($.02 per share) in the prior year period.

"Excluding the $1.1 million in acquisition related costs, the company virtually operated at a break-even for the quarter," explained Cullimore. "We're pleased to report that the assimilation process is going well and is on schedule. Much of the assimilation success is attributable to the fact we have known and worked with these target companies for many years."

"We're excited to continue adding direct sales reps in the field," reported Larry K. Beardall, executive vice president of sales and marketing. "With direct distribution of our products now in 23 states, we're progressing toward our goal of establishing the premier distribution channel in our industry by combining the best sales reps and dealers available."

Cullimore added that the strategic plans to reposition Dynatronics in a fast-evolving, competitive industry are showing great promise as sales momentum continues to build as does interest on the part of sales reps and dealers to be part of the Dynatronics team.

Dynatronics has scheduled a conference call for investors today, Monday, November 19, 2007, at 1:30 p.m. ET (11:30 a.m. MT). Those wishing to participate should call 800-839-9416 and use passcode 1383812.

A summary of the financial results for the first quarter ended September 30, 2007, follows:

Summary Selected Financial Data

Income Statement Highlights

Three Months Ended

September 30,

2007 2006

Net sales $7,891,430 $4,139,057

Cost of sales 4,959,118 2,646,900

Gross profit 2,932,312 1,492,157

SG&A expenses 3,575,495 1,261,145

R&D expenses 338,893 478,084

Other expense, net 127,167 37,495

Loss before income taxes (1,109,243) (284,567)

Income tax benefit (397,040) (109,559)

Net loss $ (712,203) $ (175,008)

Net loss per share (diluted) $ (.05) $ (.02)

Dynatronics manufactures, markets and distributes advanced-technology medical devices, orthopedic soft goods and supplies, treatment tables and rehabilitation equipment for the physical therapy, sports medicine, chiropractic, podiatry, plastic surgery, dermatology and other related medical, cosmetic and aesthetic markets. More information regarding Dynatronics is available at http://www.dynatronics.com.

This press release contains forward-looking statements. Those statements include references to the company's expectations and similar statements. Actual results may vary from the views expressed in the forward-looking statements contained in this release. The development and sale of the company's products are subject to a number of risks and uncertainties, including, but not limited to, changes in the regulatory environment, competitive factors, availability of third-party component parts and products, inventory risks due to shifts in market demand, changes in product mix, market demand for the company's products and the risk factors listed from time to time in the company's SEC reports including, but not limited to, the report on Form 10-KSB for the year ended June 30, 2007, and its subsequent quarterly reports on Form 10-QSB.


'/>"/>
SOURCE Dynatronics Corporation
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. Dynatronics Announces Strong Fourth Quarter Profit
2. Dynatronics Adds Three Additional Direct Sales Reps
3. Dynatronics to Release First Quarter Results Monday, November 19, 2007; Conference Call Set for 1:30 p.m. ET
4. Smoking may strongly increase long-term risk of eye disease
5. Diabetes appears to increase risk of death for patients with acute coronary syndromes
6. Prophylactic cranial irradiation in small cell lung cancer significantly increases survival
7. Fat on chest and upper back increases risk of insulin resistance
8. Ability to cope with stress can increase good cholesterol in older white men, study finds
9. Handling Stress Properly Increases Good Cholesterol
10. High alcohol consumption increases stroke risk among Chinese men
11. High alcohol consumption increases stroke risk, Tulane study says
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/26/2016)... N.J. (PRWEB) , ... June 27, 2016 , ... Quality ... sources, yet in many ways they remain in the eye of the beholder, according ... (EBO), a publication of The American Journal of Managed Care. For the full issue, ...
(Date:6/26/2016)... , ... June 26, 2016 , ... PawPaws brand ... new product that was developed to enhance the health of felines. The formula is ... The two main herbs in the PawPaws Cat Kidney Support Supplement Soft ...
(Date:6/25/2016)... ... 25, 2016 , ... Experts from the American Institutes for ... Meeting June 26-28, 2016, at the Hynes Convention Center in Boston. , AIR ... care planning, healthcare costs and patient and family engagement. , AIR researchers will ...
(Date:6/25/2016)... , ... June 25, 2016 , ... "With 30 hand-drawn ... specific project," said Christina Austin - CEO of Pixel Film Studios. , ProHand ... all within Final Cut Pro X . Simply select a ProHand generator and ...
(Date:6/25/2016)... ... June 25, 2016 , ... Dr. ... from injury. Recently, he has implemented orthobiologic procedures as a method for treating ... one of the first doctors to perform the treatment. Orthobiologics are substances that ...
Breaking Medicine News(10 mins):
(Date:6/23/2016)... , June 23, 2016  MedSource announced today ... its e-clinical software solution of choice.  This latest ... possible value to their clients by offering a ... preferred relationship establishes nowEDC as the EDC platform ... MedSource,s full-service clients.  "nowEDC has long been a ...
(Date:6/23/2016)... 2016 Any dentist who has made an implant ... process. Many of them do not even offer this as ... high laboratory costs involved. And those who ARE able to ... a high cost that the majority of today,s patients would ... Parsa Zadeh , founder of Dental Evolutions Inc. and inventor ...
(Date:6/23/2016)... Ill. , June 23, 2016  In a startling report ... are failing their residents by lacking a comprehensive, proven plan to ... a definitive ranking of how states are tackling the worst ... to only four states – Kentucky , ... Vermont . Of the 28 failing states, three ...
Breaking Medicine Technology: