SALT LAKE CITY, Sept. 14 /PRNewswire-FirstCall/ -- Dynatronics Corporation (Nasdaq: DYNT) today announced results for its fourth quarter and fiscal year ended June 30, 2007. Net income for the fourth quarter increased to $214,943 ($.02 per share), compared to $39,101 ($.00 per share) in the fourth quarter of the previous year. Sales for the quarter were $4,939,425, compared to $4,944,177 in the prior year period.
Sales for the year ended June 30, 2007 were $17,837,104, compared to $19,513,136 in the prior year. Net loss for the year was $85,042 ($.01 per share), compared to net income of $194,031 ($.02 per share) in the prior year.
"We're pleased to see a significant turnaround in the fourth quarter of a challenging year," stated Kelvyn H. Cullimore Jr., company chairman and president. "The strong profit generated in the quarter was largely a result of the introduction of the new Dynatron X5 Oscillation Therapy device during the month of June. In addition, higher Synergie sales and lower R&D expenses contributed to the increase in profits for the quarter."
The X5 unit's gross profit margin as a percent of sales is one of the highest of any of the therapy devices produced by Dynatronics.
"We're encouraged by not only the market demand for the new X5 device, but also by the beneficial outcomes practitioners are achieving with this new modality," said Larry K. Beardall, executive vice president of sales and marketing. "Patients suffering from post-surgical pain or pain due to injury report they are enjoying dramatic improvement from these treatments."
On another front, Beardall reports that the recent acquisition of six
of the company's key distributors is generating benefits. "Because the
|SOURCE Dynatronics Corporation|
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