Dynatronics reports Q2 EPS (27c), consensus (15c)

Reports Q2 revenue $10.9M, consensus $10.93M. "The year-over-year improvement in gross margin of 8.4% or nearly $1.0 million in gross profit was a solid improvement. We are pleased with our progression, but we have more work to do. New, targeted, and innovative, product releases are the third pillar of our gross margin improvement plan, and we plan to continue to improve our performance in this area," said John Krier, CEO of Dynatronics. "Our inventory balance was reduced to $10.7 million with a reduction of approximately $1.4 million from the balance on June 30, 2022. Reducing inventory by this level, allowed us to strengthen our supplier relationships with a reduction in accounts payable of approximately $0.9 million in the second quarter. This is an important development as we work to optimize our inventory with selected reductions while preparing for future new product introductions and historical seasonality-related growth expected in our fiscal fourth quarter."