Dynatronics Q2 net sales increase 2.2% with help from Amerinet contract

Dynatronics announced results from its fiscal second quarter and 6 months ended Dec. 31, 2014, with an increase in net sales for the second quarter of 2.2% to $7,303,189.

Net sales for the same period last year were $7,146,787. Net sales in the 6-month period also increased 2.2% to $14,519,513, compared with $14,202,215 during the same period in 2013.

Kelvyn H. Cullimore Jr., chairman and president of Dynatronics, attributed the majority of the increase in total sales for the 6 months ended Dec. 31, 2014, to its sales under a contract with Amerinet, which went into effect on July 1, 2014, according to a company press release.

Sales to Amerinet clients are growing at a double-digit rate, according to Larry K. Beardall, executive vice president of sales and marketing.

With regard to net losses, the company reported a $133,543 second-quarter loss, or $0.05 per common share, compared with a net income of $44,095, or $0.02 per common share, for the second quarter of last year. Additionally, the net loss for the 6-month period was $92,619, or $0.04 per common share, compared with a net loss of $63,698, or $0.03 per common share, during the same period in 2013.

Cullimore said a proposed technology acquisition deal that Dynatronics cancelled resulted in legal fees and other acquisition development costs of $219,873 for the 6 months ended Dec. 31, 2014.

Management will be focusing on sustaining the increase in sales, maintaining cost structures and improving profit margins in order to return to profitability, according to the release.

Reference: www.dynatronics.com.