SALT LAKE CITY, Jan. 13 /PRNewswire-FirstCall/ -- Dynatronics Corporation (Nasdaq: DYNT) expects increases in pre-tax profits and net income for the quarter ended December 31, 2009. Final results will be announced in the next few weeks.
Higher than expected sales in the month of December combined with reductions in expenses support the company's expectations of pre-tax profits in the range of $275,000 to $300,000 for the quarter ended December 31, 2009 compared to pre-tax profits of $89,917 for the quarter ended December 31, 2008. Net income is expected to be approximately $170,000 to $185,000 for the quarter ended December 31, 2009 compared to net income of $54,598 for the quarter ended December 31, 2008.
"The second quarter is typically a strong sales and profit quarter for the company, but this exceeded our expectations," said Kelvyn H. Cullimore, chairman and president of Dynatronics. "Given the ongoing challenges to economic growth in the United States this increase in profitability over last year is very gratifying and indicative of improved operating efficiencies along with increased sales of high margin capital equipment."
"Looking ahead, we anticipate continued improvement in sales and net income from the expansion of our direct sales force and the preferred vendor agreements with large chains of clinics which were recently announced," added Cullimore. "Our velocity continues to increase in a positive direction, and we expect this trend to continue."
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 www.dynatronics.com.
This press release contains forward-looking statements. Those statements include references to the company's expectations and similar statements such as the statement regarding increases in pre-tax profits and net income for the quarter ended December 31, 2009 and the expectation for continued improvement in sales and net income from the expansion of the company's direct sales force and the preferred vendor agreements with large chains of clinics. 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-K for the year ended June 30, 2009.
SOURCE Dynatronics Corporation
|SOURCE Dynatronics Corporation|
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