Dynatronics Corp announces financial and operating results for its fiscal 2016 third quarter and 9 months, which ended March 31, 2016.
According to the company in a media release, its net sales for the quarter were $7.4 million–a 10.7 percent increase compared to $6.7 million in the same period in 2015. Gross profit for the quarter increased 13.4%, representing 33.6% of sales, compared to 32.8% of sales for the quarter that ended March 31, 2015, reflecting a greater proportion of sales of proprietary therapeutic products, which carry higher-than-average margins. In addition, improved rates negotiated with freight carriers helped increase gross margin as a percentage of sales.
Net sales for the 9 months that ended March 31, 2016, were $22.3 million–a 5.0% increase compared to $21.2 million in the same period of the prior year. Gross margin for the 9-month period improved to 34.4%, compared to 34.1% for the 9-month period that ended March 31, 2015.
Net loss for the quarter that ended March 31, 2016, was approximately $451,000, compared to $208,000 for the quarter that ended March 31, 2015, per the release.
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[Source(s): Dynatronics, PR Newswire]