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Dynasil Corporation of America Reports Third Quarter Fiscal 2013 Financial Results
Date:8/12/2013

WATERTOWN, Mass., Aug. 12, 2013 /PRNewswire/ -- Dynasil Corporation of America (NASDAQ: DYSL), a leading developer of sensing, detection and analysis technology for homeland security, medical and industrial applications, today announced financial results for the fiscal 2013 third quarter ended June 30, 2013. 

Dynasil reported a net loss for the quarter of ($366,000) or ($0.02) per share, compared with net loss of ($332,000), or ($0.02) per share, for the quarter ended June 30, 2012.  The third quarter results include initial sales of the Company's new Navigator 2.0™ medical probe for cancer surgery which was approved for sale and began shipping in late May 2013.  "I am happy to report that our updated Navigator 2.0™ medical probe was approved for sale in the United States and we began shipping this refreshed product," said Dynasil Chairman and Interim CEO Peter Sulick.  "We are currently pursuing the CE Mark, necessary to meet European Union requirements, and anticipate international sales will begin in the near future."

Net revenue for the third quarter of fiscal 2013 declined $0.8 million to $11.3 million, compared with $12.1 million for the third quarter of fiscal 2012.  Revenue declined in the Contract Research and Optics segments in the quarter while the Instruments segment remained largely flat as compared with the same period last year.
Gross profit for the third quarter of 2013 declined slightly to $4.8 million from $5.0 million for the same period in 2012 although gross margins increased to 43% in the quarter compared to 41% for the third quarter of fiscal 2012. 

Operating expenses for the three months ended June 30, 2013 were $5.0 million, a decrease of $81,000 compared to the same period in 2012.  The decrease was a result of the reduced expenditures associated with the product refresh with
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SOURCE Dynasil Corporation of America
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