Dynatronics Corporation (NASDAQ:DYNT) up 28% in the pre-market session after the company released unaudited interim results for the quarter ending June 30, 2021. The company also offered an update on the strategic initiatives it has taken to improve financial performance.
CEO Jon Krier said that deal and customer reaction to the company’s optimization has been robust and preliminary results have surpassed Dynatronics’ case expectation. He added that the company continues to validate its value proposition to the customer as they set up for sustainable long-term future growth and enhanced shareholder value.
In fiscal Q4, Dynatronics reported net sales of $12.1 million thanks to the favorable dealer and customer reaction to product optimization. In April, the manufacturer of physical therapy, rehabilitation, and athletic training products indicated plans to do away with unprofitable third-party items. In addition, the company and its clients are facing pandemic-related issues, including supply chain disruptions and high shipment costs. Most importantly, the company’s bank line remained indrawn at the end of the quarter with cash of $6.1 million. With a solid cash position, DYNT is a stock to keep tabs on.
Market Reaction:
On Monday, DYNT stock moved up 5% at $1.30 with more than 4.97 million shares, compared to its average volume of 828k shares. The stock has moved within a range of $1.2300 – 1.3400 after opening the trade at $1.26.
