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Dynatronics announces financial results, introduction of soft tissue probe
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Dynatronics Corporation announced that net income for the fiscal second quarter was down from the prior year period and introduced a new handheld electrode for soft-tissue therapy.
“Due to uncertainty associated with health care reform in the United States, we have seen a marked decline in the opening of new clinics and expansion of existing clinics in our marketplace,” Kelvyn H. Cullimore Jr., chairman and president of Dynatronics, said in a press release.
Net income for the quarter ending Dec. 31 was $44,095, compared with $140,983 for the prior year period, according to a press release. For the 6-month period ending Dec. 31, net loss was $63,689 compared to a net income of $89,839 for the prior year period. Net sales for the quarter were $7,146,787, compared with $7,998,319 for the same prior year period.
To offset financial challenges, the company has expanded distribution channels, reduced operating costs and introduced its Dynatron ThermoStim Probe, a handheld electrode that can deliver hot or cold therapy in combination with electrical stimulation, according to the release.
ThermoStim Probe is operated from the control console of Dynatronics’ SolarisPlus electrotherapy units. It allows practitioners to simultaneously apply soft-tissue mobilization techniques, along with thermal therapy and electrical stimulation, according to the release.
“Initial feedback from the field regarding this new product has been very encouraging,” Larry K. Beardall, executive vice president of sales and marketing, said in the release. “We anticipate that the probe will be the catalyst to … attract new distributors to our products.”
Dynatronics has applied for patent protection of the probe’s proprietary technology, according to the release.