Dynatronics(US:DYNT)2024-05-16 19:31Financial Performance - Total net sales for Q3 fiscal year 2024 were $7.7 million, a decrease from $9.2 million in Q3 fiscal year 2023, representing a decline of approximately 16.0%[5] - Gross profit margin for the quarter was 23.7%, down from 23.9% in the same quarter last year[5] - Net loss attributable to common stockholders was $0.9 million, an improvement from a net loss of $1.4 million in Q3 fiscal year 2023[5] - The company estimates net revenue for fiscal year 2024 to be between $32.5 million and $34 million, reflecting slower demand in the rehabilitation space[4] Expenses and Financial Position - Selling, general and administrative expenses (SG&A) are anticipated to be in the range of 30% to 32% of net sales for the fiscal year[6] - As of March 31, 2024, the company had $2.4 million drawn from a working capital asset-based line of credit, with an additional $1.9 million available[5] - Total assets decreased to $27.8 million as of March 31, 2024, down from $30.1 million as of June 30, 2023[16] - Cash and cash equivalents at the end of the period were $0.6 million, slightly up from $0.6 million as of June 30, 2023[5] Product Development - The company introduced three new product lines: Timber, Titan Premier, and Forged, aimed at enhancing the existing sales base[2] Market Outlook - The company expects ongoing volatility due to broader economic challenges, including competitive pressures and supply chain disruptions[7]