|Over a month ago|
Dynatronics enters purchase, sale agreement for former Tennessee site » 10:0504/0604/06/21
Dynatronics Corporation announced the company entered into a purchase and sale agreement with Maple Leaf Realco II, LLC for the sale of the company's former manufacturing facility in Tennessee. The Agreement is for the sale of a 3.4 acre site with a 54,000 sq. ft. building consisting of manufacturing and office space in Ooltewah, Tennessee for a purchase price of $1.75M. Completion of the sale is anticipated before the company's fiscal year end on June 30, 2021. Net proceeds for the sale are estimated to be approximately $1.63M. As previously announced, the company closed its operations in Tennessee in the second quarter of fiscal year 2021 as part of consolidation and cost reduction initiatives. Products manufactured by the company in Tennessee were moved to its New Jersey and Minnesota locations. These actions resulted in reduced costs, improved operating profitability, and scalability for growth.
|Over a quarter ago|
Dynatronics hires Norman Roegner as CFO » 09:1411/0911/09/20
On November 9, the…
On November 9, the company announced the hiring of Norman Roegner III and his appointment as Chief Financial Officer of the Company, succeeding John A. Krier, who will continue as the Company's Chief Executive Officer. Prior to joining the Company, Mr. Roegner served as Vice President of Finance of Phillips-Medisize, LLC, a subsidiary of Molex. Molex is a subsidiary of Koch Industries and a globally recognized provider of electronic solutions in a wide range of industries, including medical device manufacturing from 2016 to 2019. Prior to his role with Phillips-Medisize, from 1998 to 2016, Mr. Roegner held various leadership roles in the finance, supply chain, sales operations and marketing divisions of the Molex organization. Mr. Roegner holds a B.S. degree in Accountancy from Northern Illinois University and a M.B.A. from DePaul University.
Dynatronics promotes CFO John Krier as CEO » 09:1107/0807/08/20
Dynatronics announced that on July 7, its board promoted John Krier to CEO. Dynatronics said in a release, "Krier has also joined the company's board. His appointment comes after Brian Baker announced his resignation due to health issues relating to the COVID-19 virus. Baker continues as a member of the Dynatronics board and will work for the company as a consultant on a part-time basis. Krier joined Dynatronics in March 2020 as CFO. Krier will serve as the company's interim CFO until his replacement is appointed."
Dynatronics reports Q3 EPS (13c), consensus (4c) » 06:3505/1405/14/20
Reports Q3 revenue…
Reports Q3 revenue $13.71M, consensus $13.76M. "We are pleased with the sales outcome for the third quarter, considering the effect the COVID-19 pandemic had on our business in March," said Brian Baker, President and CEO of Dynatronics Corporation. "In working with our customers, suppliers, and employees during this difficult time, we are humbled to see so many good people come together in support of the larger national and international community. We will continue to do our part as an essential manufacturer to support our customers, clinicians, medical facilities and their patients."