DYNT - Dynatronics reports misses Q3 top and bottom consensus; updates FY23 and initiates Q4 outlook

2023-05-11 07:16:15 ET

• Dynatronics press release ( NASDAQ: DYNT ): Q3 GAAP EPS of -$0.36 misses by $0.20 .
• Revenue of $9.2M (-10.9% Y/Y) misses by $1.2M .
• Cash of $0.7 million, flat from $0.7 million at the end of Q4 fiscal year '22.
• Outlook: Dynatronics reassessed net sales guidance for fiscal year '23 based on the impact of the previously mentioned external events to $39.5 million to $40.5 million vs. consensus of $46.14M. Q4 of fiscal year '23 is expected to be $7.5 million to $8.5 million vs. consensus of $12.81M.
• Selling, general, and administrative expenses are anticipated to be 35% to 40% of net sales in Q4 of fiscal year '23. The Company highlighted approximately $1.5 million to $2.0 million in expected cost reductions in selling, general, and administrative expenses in fiscal year 2024, from the run-rate as of March 2023.
• Generate positive cash flow from operations of $0.4 million for the first nine months of the fiscal year while reducing current liabilities by $1.3 million over the same period.

For further details see: