Welcome to our dedicated page for Dynatronics news (Ticker: DYNT), a resource for investors and traders seeking the latest updates and insights on Dynatronics stock.
Company Overview
Dynatronics Corp (DYNT) is a longstanding, reputable manufacturer, marketer, and distributor of advanced medical devices and rehabilitation equipment. Drawing on over three decades of experience, the company has built a robust reputation for excellence in clinical support and customer service, positioning itself as a reliable and knowledgeable force in the healthcare equipment industry. With a focus on advanced technology and innovative design, Dynatronics serves a broad spectrum of clinical applications including physical therapy, chiropractic, athletic training, and sports medicine.
Core Products and Services
At its core, Dynatronics designs and manufactures a wide range of high-quality medical devices that include treatment tables, rehabilitation equipment, and an extensive selection of over 8,000 products and supplies. The product portfolio is structured to meet the diverse needs of orthopedists, physical therapists, chiropractors, and sports medicine practitioners. Advanced medical technology is intricately woven into every product category, ensuring that customers benefit from reliable, innovative, and clinically supported solutions.
Distribution and Customer Support
The company distinguishes itself through a comprehensive distribution network that includes both a dedicated sales force and an expansive network of active distributors. With a substantial field support team, Dynatronics provides prompt service that encompasses equipment setup and ongoing in-service training, ensuring that clinicians and healthcare providers maximize the functionality and effectiveness of their equipment.
Commitment to Quality and Clinical Expertise
Quality and precision are at the heart of Dynatronics' operations. The company's commitment to competitive pricing is matched by its focus on delivering exceptional clinical support and training. This dual emphasis has allowed Dynatronics to forge strong relationships within the healthcare community, reassuring its customers that each product is backed by industry-leading expertise and technical support.
Industry Position and Market Significance
Within the competitive landscape of the medical device and rehabilitation equipment market, Dynatronics has carved out a niche by combining high-quality product innovation with unparalleled customer service. The company’s strategic emphasis on research, development, and clinical collaboration has allowed it to adapt to evolving needs in the healthcare market without compromising on service or quality. Manufacturers, distributors, and clinical professionals alike appreciate Dynatronics’ comprehensive approach that integrates distribution efficiency with thorough technical support and training.
Operational Excellence and Support Services
Dynatronics has consistently demonstrated operational excellence, underpinned by its experienced sales team and extensive network of distributors. This combination ensures widespread market reach and immediate responsiveness to customer requirements. The company's field service team is well-versed in all aspects of equipment installation, maintenance, and user training, providing an essential service that enhances client confidence and satisfaction.
Closing Insights
Overall, Dynatronics Corp establishes itself as a reliable and proficient entity within the medical device and rehabilitation sectors. Its comprehensive product range, backed by professional clinical support and an efficient distribution network, makes it a pivotal player for healthcare providers seeking quality and reliability in their equipment choices. This detailed overview aims to serve as an evergreen resource, offering deep insights into the company’s operations, business model, and market role without digressing into time-sensitive specifics.
Dynatronics Corporation (NASDAQ:DYNT) announced the completion of a $1.75 million sale agreement with Maple Leaf Realco VII, LLC, effective May 13, 2021. The net proceeds for Dynatronics from this transaction amount to approximately $1.65 million. This strategic move follows the closure of a 54,000 square foot manufacturing facility in Ooltewah, Tennessee, as part of cost reduction efforts. The company aims to enhance its liquidity for potential mergers and acquisitions while optimizing its operations by shifting production to its New Jersey and Minnesota locations.
Dynatronics Corporation (NASDAQ:DYNT) reported Q3 FY'21 financial results, with net sales of $11.5 million, down from $13.7 million year-over-year. Gross profit margin remained steady at 28.8%. The company achieved a net income of $0.1 million, recovering from a net loss of $1.1 million in Q3 FY'20, aided by a $1.0 million Employee Retention Credit. Cash reserves improved to $4.5 million, a 103% increase since June 30, 2020. Dynatronics is advancing a product portfolio optimization plan to enhance financial performance and expects challenges due to COVID-19 to continue affecting operations.
Dynatronics Corporation (NASDAQ:DYNT) announced participation in two upcoming investor conferences. Management will engage in presentations and one-on-one meetings during the Investor Summit on May 17-18, 2021, and the Canaccord Genuity 2021 Virtual Musculoskeletal Conference on May 20, 2021. The group presentation for the Investor Summit is at 2:45 PM ET, and for the Canaccord event at 3:30 PM ET. A live webcast of the presentations will be available on the company's Investor webpage for later viewing.
Dynatronics Corporation (NASDAQ:DYNT) will announce its fiscal third quarter financial results on May 13, 2021. The report will cover results for the period ending March 31, 2021. Following the release, a conference call and webcast will take place at 8:30 AM ET, featuring management remarks and a Q&A session. Investors can join the call by dialing the provided numbers and using the specified passcodes. The webcast will be available for future viewing on the company's investor webpage.
Dynatronics Corporation (NASDAQ:DYNT) has announced significant strategic changes aimed at enhancing financial performance and streamlining operations by eliminating approximately 1,600 low-margin products. This optimization plan focuses on leveraging Dynatronics' manufacturing capabilities, targeting higher margins, and consolidating support functions. The company anticipates a $1.2 million restructuring charge, with an expected $11 million reduction in annual sales for FY '22 but aims for improved gross margins and EBITDA. Challenges from severe weather and COVID-19 impact Q3 FY '21 sales, estimated at $11.4 million.
Dynatronics Corporation (NASDAQ:DYNT) has entered into a purchase and sale agreement with Maple Leaf Realco II, LLC, for its former manufacturing facility in Ooltewah, Tennessee. The 3.4-acre site, featuring a 54,000 sq. ft. building, is being sold for $1.75 million, with net proceeds estimated at $1.63 million. This sale follows the company's closure of Tennessee operations earlier in FY 2021 as part of cost-cutting measures. The relocation of manufacturing to New Jersey and Minnesota is aimed at enhancing operational profitability and scalability.
Dynatronics Corporation (NASDAQ:DYNT), a prominent manufacturer of athletic training and rehabilitation products, will participate in the 33rd Annual Roth Conference from March 15-17, 2021. CEO John Krier and CFO Norm Roegner will engage in one-on-one meetings during the virtual event. Attendees can request virtual meetings via Roth's platform or contact their representatives. Dynatronics specializes in high-quality restorative products for physical therapy and athletic training, with brands including Bird & Cronin and PROTEAM.
Dynatronics Corporation (NASDAQ:DYNT) announced the renewal of its group purchasing agreement with Intalere, extending their partnership through January 2024. Bird & Cronin, a wholly-owned subsidiary, has been a preferred provider for over 20 years, aiding Intalere's mission to enhance healthcare. The deal allows Intalere's more than 100,000 members access to competitive pricing on a range of orthopedic bracing solutions, including key products like the Sprint air walker boot. This agreement is expected to support better financial, operational, and clinical performance for healthcare providers.
Dynatronics Corporation (NASDAQ:DYNT) reported its fiscal Q2 2021 results for the period ending December 31, 2020, with net sales of $12 million, unchanged from the previous quarter but down 21% year-over-year. The company experienced a GAAP net loss of $673,000, compared to a net loss of $377,000 in Q1 2021. However, it generated $1.5 million in positive operating cash flow, a 34% increase over the prior quarter, and reported zero balance on its line of credit. Additionally, DYNT regained compliance with NASDAQ listing requirements.
Dynatronics Corporation (NASDAQ:DYNT) has launched two new products: the bariatric electric stand-in table with patient lift and the premium laminated H-brace treatment table. The Hausmann Model 6177 can lift patients weighing up to 500 pounds, providing motorized variable-height adjustments, while the Hausmann HTT table is designed for durability and functionality, also supporting a 500-pound capacity. These introductions aim to enhance the company’s offerings in the rehabilitative market and are expected to drive incremental sales at higher margins.
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