SALT LAKE CITY, Sept. 30, 2013 /PRNewswire/ -- Dynatronics Corporation (NASDAQ: DYNT) today announced results for its fiscal year ended June 30, 2013.
Net sales in fiscal year 2013 decreased to $29,538,275, compared to $31,664,181 in fiscal year 2012. Net loss for the year was $44,371 ($.02 per common share), compared to a net loss of $23,535 ($.01 per common share) for the prior fiscal year. (All per-share amounts reflect the company's one-for-five reverse stock split, effective December 19, 2012.)
"The $2,125,906 decrease in sales for the year is characterized by sales reductions evenly split between supplies and capital equipment distributed for other manufacturers," stated Kelvyn H. Cullimore Jr., chairman and president of Dynatronics. "Approximately 20 percent of the reduced sales are attributable to a capital equipment manufacturer that changed its distribution paradigm, negatively impacting our sales of their products. The reductions in sales of distributed medical supplies during the year also include the impact of a large customer that discontinued operations in early 2012.
"On a positive note, sales of our proprietary manufactured products actually increased over the prior year," said Cullimore. "With significant gains in sales of the new Dynatron SolarisPlus family of products. These gains offset lower sales of some of our other proprietary products. Fiscal year 2013 saw the culmination of years of increased R&D expenditures and strategic planning, resulting in the introduction of a record number of innovative devices."
New products introduced over the past year include not only the SolarisPlus line, but also the company's Tri-Wave Phototherapy Probe and Pad, Ultra 2 and Ultra 3 treatment tables, and 25 Series line of electrotherapy and ultrasound products. "But the innovati
|SOURCE Dynatronics Corporation|
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