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Dynatronics Corp (NASDAQ: DYNT) is a prominent United States-based company renowned for its innovative medical devices and restorative products targeted towards achieving optimal health. Established over 31 years ago, Dynatronics has built a robust reputation for competitive pricing, exemplary customer service, and unmatched clinical support. The company designs, manufactures, and distributes advanced-technology medical devices, therapeutic tables, rehabilitation equipment, and a wide array of rehabilitation and therapy products and supplies.
Dynatronics’ product portfolio includes electrotherapy, therapeutic ultrasound, phototherapy, customized athletic training treatment tables, institutional cabinetry, and exercise products. These products are marketed to a diverse range of healthcare professionals such as physical therapists, chiropractors, athletic trainers, and sports medicine practitioners. The company’s commitment to quality is reflected in its reputable brands including Bird & Cronin®, Solaris™, Hausmann®, Physician's Choice®, and PROTEAM™, among others.
With over 60 sales representatives and 150 active distributors located nationwide, Dynatronics ensures immediate service and extensive field support, from equipment setup to in-service training. Their experienced and knowledgeable sales force is one of the most respected in the industry.
In recent developments, Dynatronics has made significant strides to optimize its cost structure and strengthen its balance sheet. The company recently entered into a new Loan and Security Agreement with Gibraltar Business Capital, enhancing its operational and financial flexibility. Additionally, Brian Baker has assumed the role of Chief Executive Officer, bringing a wealth of experience and a customer-focused approach to the leadership team.
The company has shown resilience and adaptability amidst economic challenges, continuously working on business optimization strategies. The financial guidance for fiscal year 2024 shows a net sales target of $34 million to $37 million, with a strategic focus on cost reduction and margin expansion.
Dynatronics is also focusing on launching new products, with plans for a limited launch in the third quarter and a full launch in the fourth quarter of fiscal year 2024. These new product lines are expected to complement their existing offerings and contribute to the company's revenue growth.
For more information about Dynatronics Corp and its latest updates, visit www.dynatronics.com.
Dynatronics (NASDAQ: DYNT) announced its transition to the OTC Markets Group due to noncompliance with Nasdaq's minimum bid price requirement. The company received notice of impending delisting from Nasdaq effective July 9, 2024. Consequently, Dynatronics' common stock will be quoted on the OTCQB Venture Market immediately following the delisting. The ticker symbol and CUSIP will remain unchanged, and shareholders need not take any action. Despite the transition, Dynatronics will continue its business operations and remain a reporting company under the Securities Exchange Act of 1934.
Dynatronics , a leading manufacturer of athletic training, physical therapy, and rehabilitation products, reported financial results for its third quarter of fiscal year 2024. The CEO highlighted progress in sales goals and positive EBITDA. New product lines were introduced to enhance sales. Key financial results include total net sales of $7.7 million, a gross profit margin of 23.7%, and a net loss attributable to common stockholders of $0.9 million. The company provided guidance for fiscal year 2024, estimating net revenue to be $32.5 million to $34 million, with ongoing volatility expected due to economic challenges. Dynatronics will hold a conference call to review its third quarter results.
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