Dynatronics Corporation (DYNT) saw its loss narrow to $0.10 million, or $0.19 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $0.12 million, or $0.08 a share.
Revenue during the quarter grew 16.56 percent to $8.71 million from $7.48 million in the previous year period. Gross margin for the quarter contracted 54 basis points over the previous year period to 35.27 percent. Operating margin for the quarter stood at negative 1 percent as compared to a negative 0.62 percent for the previous year period.
We have energized our operations over the last year by hiring a new head of sales and marketing, new leadership in international sales and clinical education, a new chief financial officer and new management for our Chattanooga, Tennessee facility," commented Company President and CEO, Kelvyn H. Cullimore, Jr. "We are also currently searching for a new leader of global operations to focus on improved manufacturing methods and enhanced gross profit margins, and to assist with possible acquisitions during 2017."
Working capital declines
Dynatronics Corp has witnessed a decline in the working capital over the last year. It stood at $6.50 million as at Dec. 31, 2016, down 13.44 percent or $1.01 million from $7.51 million on Dec. 31, 2015. Current ratio was at 2.41 as on Dec. 31, 2016, down from 2.98 on Dec. 31, 2015.
Cash conversion cycle (CCC) has decreased to 41 days for the quarter from 107 days for the last year period. Days sales outstanding went down to 35 days for the quarter compared with 38 days for the same period last year.
Days inventory outstanding has decreased to 46 days for the quarter compared with 105 days for the previous year period. At the same time, days payable outstanding went up to 39 days for the quarter from 36 for the same period last year.
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