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The leaders of Dynatronics intend to use their best efforts to regaincompliance with NASDAQ's minimum bid requirement.
"A longer and more costly assimilation of last year's acquisitions hasapparently caused some to lose confidence in holding our stock," stated KelvynH. Cullimore Jr., chairman and president of Dynatronics. "The resultingselling pressure pushed the stock price down and triggered the deficiencynotice from NASDAQ.
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"Fortunately, we are starting to see the improvements that motivated theacquisitions last year. Not only are capital equipment sales improving, butgross margins as a percent of sales in April and May were higher than anymonth this fiscal year. We believe these improvements, together with ourpreviously announced $1.9 million in annual expense reductions, will help pavethe way back to profitability and restore confidence in owning our stock."
Dynatronics manufactures, markets and distributes advanced-technologymedical devices, orthopedic soft goods and supplies, treatment tables andrehabilitation equipment for the physical therapy, sports medicine,chiropractic, podiatry, plastic surgery, dermatology and other relatedmedical, cosmetic and aesthetic markets. More information regardingDynatronics is available at http://www.dynatronics.com.
This press release contains forward-looking statements. Those statementsinclude references to the company's expectations and similar statements.Actual results may vary from the views expressed in the forward-lookingstatements contained in this release. The development and sale of thecompany's products are subject to a number of risks and uncertainties,including, but not limited to, changes in the regulatory environment,competitive factors, inventory risks due to shifts in market demand, marketdemand for the company's products, availability of financing at cost effectiverates, and the risk factors listed from time to time in the company's SECreports including, but not limited to, the report on Form 10-KSB for the yearended June 30, 2007, and its subsequent quarterly reports on Form 10-QSB.
SOURCE Dynatronics Corporation
