SALT LAKE CITY, May 14, 2013 /PRNewswire/ -- Dynatronics Corporation (NASDAQ: DYNT) today announced results for its fiscal third quarter and nine months ended March 31, 2013.
Net loss for the quarter ended March 31, 2013, decreased 48 percent to $61,121 ($.02 per common share), compared to $117,563 ($.05 per common share) for the same quarter in the prior fiscal year. Net income for the nine months ended March 31, 2013, was $28,718 ($.01 per common share), compared to a net loss of $139,489 ($.05 per common share) for the same period in the prior fiscal year. (All per share amounts reflect the Company's 1-for-5 reverse stock split effective December 19, 2012.)
Sales for the fiscal third quarter ended March 31, 2013, declined 7.6 percent to $7,070,292, compared to $7,653,586 for the quarter ended March 31, 2012. Sales for the nine months ended March 31, 2013, declined 6.9 percent to $22,274,637, compared to $23,925,818 for the nine months ended March 31, 2012.
"Higher sales of our new SolarisPlus and other proprietary capital equipment products during the quarter and nine-month period were offset by lower sales of distributed products, medical supplies and consumable products used by clinics," said Kelvyn H. Cullimore Jr. , chairman and president of Dynatronics. "The lower sales of distributed products and supplies are attributable primarily to a lack of growth and expansion within the industry because of uncertainties surrounding healthcare reform and ongoing economic weakness generally. Medical supplies and distributed items account for a large percentage of Company revenues."
Despite reduced sales, the Company's pre-tax loss was reduced from approximately $245,000 to $95,000 for the quarters ended March 31, 2013 and 2012, respectively. The improvement in the reporting periods resulted
|SOURCE Dynatronics Corporation|
Copyright©2012 PR Newswire.
All rights reserved