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:4/24/2017)... CA (PRWEB) , ... April 24, 2017 , ... As ... is worth a thousand words. The good news for single women is that she ... Attraction," which is available on April 25th. Joan's insight, personal experiences and sparkling sense ...
(Date:4/24/2017)... ... ... “Reflections of God’s Work”: an enlightening collection of life lessons leading each person to ... Jerri Broglin, a survivor of great loss who gained insight on how to find ... searching for answers, as we are finding the answers that are so deep in ...
(Date:4/24/2017)... and Seattle, WA (PRWEB) , ... April 24, ... ... by 75+ leading lifestyle brands, work wear distributors and International relief organizations across ... can carry. The company also offers lifestyle and work wear collections via ...
(Date:4/22/2017)... ... 22, 2017 , ... Ecommerce sales have grown every year since the 1990’s, ... The consequences of rapid innovation and growth are often neglected in the name ... every business and individual’s job to give something back to the planet that provides ...
(Date:4/21/2017)... , ... April 21, 2017 , ... An April 10 ... a pair of ancient teeth, which reveal a great deal about prehistoric ice-age dental ... sharp stone may have been used to remove decayed dental matter, and that teeth ...
Breaking Medicine News(10 mins):
(Date:4/19/2017)... 2017 Global Surgical Drainage Device Market: Overview ... to remove excess liquid and air. The fluid to ... or lymph. Surgical drains are used in a wide ... surgery, cardiovascular surgery, neurosurgery, plastic surgery etc. Common use ... accumulation of fluid e.g. blood or pus. Surgical drains ...
(Date:4/19/2017)... LONDON , April 19, 2017 ... to stimulate an immune response in pets such ... vaccine products are of various types such as ... Vaccines, Toxoid Vaccines, DNA Vaccines and Recombinant Vaccines. ... such as virus or bacteria, which have been ...
(Date:4/18/2017)... 18, 2017 Cogentix Medical, Inc. (NASDAQ: CGNT), ... Urology, Uro/Gyn and Gynecology markets with innovative and proprietary ... ended March 31, 2017 after the market close on ... will host a conference call and webcast to discuss ... 2, 2017 at 4:30 p.m. Eastern Time (3:30 p.m. ...
Breaking Medicine Technology: