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February 10, 2006
By: Chris Trembath
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SALT LAKE CITY, Feb. 9 /PRNewswire-FirstCall/ -- Dynatronics Corporation (Nasdaq: DYNT) today announced results for its second fiscal quarter ended December 31, 2005. Sales for the quarter were $5,230,833, compared to $5,322,596 in the same period last year. Net income for the quarter ended December 31, 2005, was $160,233 ($.02 per share), compared to net income of $245,107 ($.03 per share) in the second quarter of the previous year. "Despite a $157,000 increase in R&D expenses over the same quarter last year -- a 57% increase -- we were still able to achieve earnings of $.02 per share in the second quarter," stated Kelvyn H. Cullimore Jr., company chairman and president. "Second quarter results improved significantly over first quarter results, thanks to the solid demand for our new rehab equipment. However, when compared to the second quarter of the prior year, the sales increases from new products were offset by lower sales of our aesthetic equipment and older 50 Series products." Dynatronics began shipping three new products during the second quarter, including the Dynatron Xp infrared light pad. This innovative product is 14 times more powerful than infrared light probes currently on the market. It is capable of treating a much larger area than can be treated by competitors' devices. Importantly, it makes unattended patient therapy possible, allowing practitioners to treat multiple patients simultaneously. The other two products introduced during the second quarter were the Dynatron iBox iontophoresis device and the D880Plus infrared light probe. "Looking ahead to the third quarter, we are pleased to report that we have already begun shipping the Dynatron 702, a stand-alone light therapy device," said Larry K. Beardall, executive vice president of sales and marketing. "The new Dynatron 702 not only simplifies infrared light therapy treatments, but can be combined with our traction device for dual therapy treatments." An additional third quarter product introduction -- the DX9 combination traction and light therapy system -- also began shipping in January. The new Dynatron DX9 Decompression System combines the benefits of infrared light therapy with decompression therapy for treating back pain. Decompression therapy is commonly used to relieve the pain associated with a number of back problems, including herniated discs, degenerative disc disease, sciatica and pinched nerves.
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