Navigation Links
Dynatronics Receives NASDAQ Minimum Bid Price Deficiency Letter
Date:7/1/2008

SALT LAKE CITY, July 1 /PRNewswire-FirstCall/ -- Dynatronics Corporation (Nasdaq: DYNT) today announced that the company has received a letter from NASDAQ stating that for the last 30 consecutive business days, the bid price of its common stock has closed below the minimum $1.00 per share requirement for continued inclusion under NASDAQ's Marketplace Rules. As a result, the company will be given 180 calendar days, or until December 22, 2008, to regain compliance. If, at anytime before December 22, 2008, the bid price of the common stock closes at $1.00 per share or more for a minimum of 10 consecutive business days, NASDAQ will provide written notification that compliance has been regained.

The leaders of Dynatronics intend to use their best efforts to regain compliance with NASDAQ's minimum bid requirement.

"A longer and more costly assimilation of last year's acquisitions has apparently caused some to lose confidence in holding our stock," stated Kelvyn H. Cullimore Jr., chairman and president of Dynatronics. "The resulting selling pressure pushed the stock price down and triggered the deficiency notice from NASDAQ.

"Fortunately, we are starting to see the improvements that motivated the acquisitions last year. Not only are capital equipment sales improving, but gross margins as a percent of sales in April and May were higher than any month this fiscal year. We believe these improvements, together with our previously announced $1.9 million in annual expense reductions, will help pave the way back to profitability and restore confidence in owning our stock."

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, inventory risks due to shifts in market demand, market demand for the company's products, availability of financing at cost effective rates, 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©2008 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. Dynatronics Acquisitions Increase Sales 91 Percent in First Quarter
5. Dynatronics Announces $250,000 Increase in Stock Buyback Program
6. Dynatronics to Release Second Quarter Results Thursday, February 14, 2008; Conference Call Set for 4:30 p.m. ET
7. Dynatronics Acquisitions Increase Sales 100 Percent in Second Quarter
8. Dynatronics Introduces New Synergie Elite Aesthetic Line
9. Dynatronics Introduces New DynaPro Spinal Health System and X5 Turbo
10. Dynatronics Reduces Annual Expenses by $1.9 Million
11. Dynatronics to Release Third Quarter Results Wednesday, May 14, 2008; Conference Call Set for 2:30 p.m. ET
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/5/2016)... (PRWEB) , ... December 05, 2016 , ... ... of its latest transitional care facility – Avamere Transitional Care of Puget ... square foot short-term, post-acute health care center will provide patients recovering from illness ...
(Date:12/5/2016)... , ... December 05, 2016 , ... ... it has been featured in SuperbCrew magazine, a leading online tech news platform ... This interview, now featured on SuperbCrew.com, explores the state of enterprise mobility security ...
(Date:12/5/2016)... ... December 05, 2016 , ... Researchers at Johns Hopkins All Children’s ... of young athletes. Over the course of three years, researchers will study concussions and ... The mouth guards, equipped with special sensors, will track the location and force of ...
(Date:12/5/2016)... , ... December 05, 2016 , ... ... 70th Annual Meeting through tomorrow, December 6th, sparks a conversation about epilepsy, bearing ... , One in 26 people will be diagnosed with epilepsy within their lifetime. ...
(Date:12/5/2016)... (PRWEB) , ... December 05, 2016 , ... ... Keynote speaker for the 21st Annual International Congress on Hematologic Malignancies®: Focus on ... PER® president, Phil Talamo said, “We are honored to have Amy E. Herman ...
Breaking Medicine News(10 mins):
(Date:12/5/2016)... Dec. 5, 2016 Spain Glaucoma Surgery Devices ... report, "Spain Glaucoma Surgery Devices Market Outlook to 2022", ... Devices market. The report provides value, in millions of ... within market segements - Canaloplasty Micro Catheters and Glaucoma ... and distribution shares data for each of these market ...
(Date:12/5/2016)... Special purpose needles are used in target specific ... cells from organs or lumps and are available in the ... market for special purpose needles is showing a steady growth ... the global special purpose needles market is projected to expand ... and is expected to be valued at US$ 17,261.5 million ...
(Date:12/5/2016)... and BOCA RATON, Fla. ... Institute for the Commercialization of Public Research ... finalized a funding agreement SegAna, LLC, an ... at University of Central Florida. The Florida Institute ... and bridges early funding gaps for companies spinning ...
Breaking Medicine Technology: