SALT LAKE CITY, Feb. 14, 2011 /PRNewswire/ — Dynatronics
DYNT) today announced results for its fiscal second quarter
ended December 31, 2010.
Sales for the quarter ended December 31, 2010, were $8,199,347,
compared to $8,501,437 for the quarter ended December 31, 2009.
Sales for the six months ended December 31, 2010, were $16,118,635,
compared to $16,783,900 for the similar period of the prior
Net income for the quarter ended December 31, 2010, was $67,839
($.01 per common share), compared to $188,299 ($.01 per common
share) for the same quarter in the prior fiscal year. Net income
for the six months ended December 31, 2010, was $84,851 ($.01 per
common share), compared to $256,923 ($.02 per common share) for the
same period in the prior fiscal year.
“Higher R&D expenses of $149,637 for the quarter and
$283,465 for the six month period were a primary reason for
reporting lower profits this year over last year. In
addition, slower demand for capital equipment due to lingering
recessionary pressures also contributed,” stated Kelvyn H.
Cullimore Jr., chairman and president of Dynatronics. “However, our
R&D pipeline is as strong as ever with several new products
under development. New products have always been the lifeblood of
The company recently announced the signing of major contracts
with two group purchasing organizations (“GPOs”): Premier and
Amerinet. Together, these GPOs represent tens of thousands of
clinics and hospitals around the nation, spending an estimated $50
million on physical medicine products annually.
“We believe these landmark agreements will be a game-changer for
Dynatronics,” said Larry K. Beardall, executive vice-president of
sales and marketing. “Obtaining contracts with GPOs is something we
have been working on for nearly three years. While it will take
time to conver