Dynatronics: Down on lower sales forecast

Dynatronics

08/07/2020 16:32

** Shares of medical equipment maker  DYNT.O  down 9.5% at
$0.84
    ** Co expects Q4 net sales of $7.9 mln-$8.2 mln, a 47%-49%
decline compared with last year
    ** Co forecasts FY 2020 net sales of $53.2 mln-$53.5 mln,
down 14%-15% from last year (https://bit.ly/2VZZGVL)
    ** DYNT cites stay-at-home policies and government
restrictions in response to the COVID-19 pandemic, as well as
continued decline in physical therapy and rehabilitation product
sales for the decline
    ** Co also announces resignation of CEO Brian Baker due to
personal and health issues relating to the COVID-19 virus; Jon
Krier, co's CFO, promoted to CEO  urn:newsml:reuters.com:*:nACS35knXa
    ** DYNT is up 11.7% this year, as of last close 

 (Reporting by Arunima Kumar in Bengaluru)
 ((Arunima.Kumar@thomsonreuters.com))