SALT LAKE CITY, Dec. 29 /PRNewswire-FirstCall/ --Dynatronics Corporation (Nasdaq: DYNT) today announced that a second temporary grace period extension, filed by NASDAQ with the SEC, gives the company until approximately June 28, 2009, to comply with NASDAQ's $1 per share minimum bid rule.
"We are pleased that NASDAQ has further extended the timeframe for compliance in light of the current market environment," stated Kelvyn H. Cullimore Jr., chairman and president of Dynatronics. "This will give us time to realize the impact of operating improvements that are emerging in part because of our recent agreement with Vici Capital, a private operations consulting firm that is assisting Dynatronics in identifying significant changes that we can implement to improve our bottom line over the next year."
In addition, Dynatronics' newly expanded catalog released in September is positively impacting sales, generating improved margins through adjusted product pricing.
"We are also facilitating greater order flow from our domestic dealers through an adaptation of our DynaClub direct sales program. This promises to be a source of increased revenue over the coming year as dealers embrace the benefits of this program," Cullimore continued. "We believe all of these improvements, together with the more than $2 million in annual expense reductions we have previously implemented, should restore profitability and build investor 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 Dynatronic
|SOURCE Dynatronics Corporation|
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