Navigation Links
Dynatronics Reduces Annual Expenses by $1.9 Million
Date:5/2/2008

SALT LAKE CITY, May 2 /PRNewswire-FirstCall/ -- Dynatronics Corporation (Nasdaq: DYNT) today announced that it has completed measures designed to reduce expenses by an estimated $1.9 million annually.

These cost savings were achieved primarily by a reduction of approximately 20 percent of the company's workforce and the elimination of duplicative overhead expense. Many of these reductions had been contemplated following the successful acquisition and assimilation of six key distributors last summer. Since that time, Dynatronics has successfully consolidated operations from eight distribution points to three.

"Reductions of this kind are never easy, but they were part of our assimilation plan going into the acquisitions," reported Kelvyn H. Cullimore Jr., chairman and president of Dynatronics. "It has taken a little longer than expected, but eliminating redundant positions and streamlining key processes will allow us to maximize the synergies of the combined operations and realize the savings we had anticipated in making these acquisitions."

All expense reductions were completed prior to March 31, the end of the company's fiscal third quarter. "The fact that we completed these reductions in the third quarter and recently introduced four exciting new products positions us well for the fourth quarter and beyond," Cullimore added.

Dynatronics manufactures, markets and distributes advanced-technology medical devices, orthopedic soft goods and supplies, treatment tables and rehabilitation equipment for the physical therapy, pain management, sports medicine, chiropractic, podiatry, plastic surgery, dermatology and other related medical, cosmetic and aesthetic markets.

This press release contains forward-looking statements. Those statements include references to the company's expectations of future events, including the scope of the cost savings to be realized from the reductions in personnel and consolidation of overhead expenses. Actual results may vary from the views expressed in the forward-looking statements. The development and sale of the company's products are subject to a number of risks and uncertainties, including, but not limited to, competitive factors, inventory risks due to shifts in market demand, market demand for the company's products, FDA clearance of new 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 subsequent quarterly reports.


'/>"/>
SOURCE Dynatronics Corporation
Copyright©2008 PR Newswire.
All rights reserved

Related medicine news :

1. Dynatronics Introduces New DynaPro Spinal Health System and X5 Turbo
2. Dynatronics Introduces New Synergie Elite Aesthetic Line
3. Dynatronics Acquisitions Increase Sales 100 Percent in Second Quarter
4. Dynatronics to Release Second Quarter Results Thursday, February 14, 2008; Conference Call Set for 4:30 p.m. ET
5. Dynatronics Announces $250,000 Increase in Stock Buyback Program
6. Dynatronics Acquisitions Increase Sales 91 Percent in First Quarter
7. Dynatronics to Release First Quarter Results Monday, November 19, 2007; Conference Call Set for 1:30 p.m. ET
8. Dynatronics Adds Three Additional Direct Sales Reps
9. Dynatronics Announces Strong Fourth Quarter Profit
10. Prozac Reduces Disease Activity in MS Patients
11. Staff Training Reduces Postpartum Bleeding, Episiotomies
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/2/2016)... ... 2016 , ... Center for Autism and Related Disorders (CARD) Portland today announced ... disorder (ASD) and other developmental disabilities. The group, which is being launched with the ... the opportunity to share stories and advice, seek help, and continue their education on ...
(Date:12/2/2016)... ... 2016 , ... U.S. Surgeon General, Dr. Vivek Murthy, graces the cover of ... was inspired to practice medicine at an early age by his father, who was ... diagnoses and prescribing medicine,” he states. “It is about building relationships with people; relationships ...
(Date:12/2/2016)... ... December 02, 2016 , ... ... two ostomy patients, standing as living proof that attitude and determination can combine ... and issues that spike around the holidays. This campaign will offer patients a ...
(Date:12/2/2016)... ... December 02, 2016 , ... More than half of American teens report losing ... report speaking with their child about sex related topics, less than 60 percent spoke ... proud to announce the launch of its second edition of the “Sexual Wellness” campaign, ...
(Date:12/2/2016)... ... 02, 2016 , ... CloudLIMS.com, a class-leading provider of Laboratory ... CloudLIMS Lite helps biobanks, clinical, research and testing laboratories keep track of their ... version is a faster and a more efficient product, allowing batch processing of ...
Breaking Medicine News(10 mins):
(Date:12/2/2016)... -- UCB is pleased to announce that 12 scientific abstracts have ... American Epilepsy Society (AES) Annual Meeting, which takes place ... USA. 1-12 Data being presented include ... ® (lacosamide) CV and BRIVIACT ® (brivaracetam) CV. ... state of the union of epilepsy care and antiepileptic drugs ...
(Date:12/2/2016)... -- Allergan plc (NYSE: AGN ), a leading ... announced Accelerated Share Repurchase (ASR) Program. Logo - ... , ... announced, the Company entered into a variable tenor ASR arrangement ... $10 billion of its ordinary shares. Approximately 40.5 million shares ...
(Date:11/30/2016)... , Nov 30, 2016 Research and ... Intracranial Pressure Monitoring Devices 2017 - MedCore" report to their offering. ... , , ... brain and the skull. In healthy individuals, it is circulated though the ... are cases where the amount of CSF surrounding the brain changes significantly. ...
Breaking Medicine Technology: