8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 14, 2012

DYNATRONICS CORPORATION

(Exact name of registrant as specified in its charter)

Utah	0-12697	87-0398434
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification Number)

7030 Park Centre Dr., Salt Lake City, Utah	84121
(Address of principal executive offices)	(Zip Code)

Registrant's telephone number, including area code: (801) 568-7000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨      Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨      Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨      Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨      Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02                 Results of Operations and Financial Condition.

On November 14, 2012, Dynatronics Corporation (the “Registrant”) issued a press release announcing its financial results for the fiscal first quarter ended September 30, 2012.  The Registrant also held a conference call by telephone to discuss the quarterly operating results.

A copy of the press release summarizing the results of operations is furnished herewith as Exhibit 99.1 to this Current Report on Form 8-K.  The Registrant will also post the earnings press release on its corporate website at www.dynatronics.com.  

The information in this Current Report is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section.  The information in this Current Report shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended.  The furnishing of the information in this Current Report is not intended to, and does not constitute a representation that such furnishing is required by Regulation FD or that the information this Current Report contains is material investor information that is not otherwise publicly available.

Item 9.01                 Financial Statements and Exhibits.

(d)      Exhibits

Exhibit 99.1                      Press release dated November 14, 2012

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

DYNATRONICS CORPORATION

By:  /s/ Kelvyn H. Cullimore, Jr.

Kelvyn H. Cullimore, Jr.

Chairman and President

Date:  November 14, 2012

EX-99.1

NEWS RELEASE

Contact:	Bob Cardon, Dynatronics Corporation
	800-874-6251 or 801-568-7000

Dynatronics Announces First Quarter Results

Salt Lake City, Utah (November 14, 2012) – Dynatronics Corporation (NASDAQ: DYNT) today announced results for its fiscal first quarter ended September 30, 2012.

Net loss for the quarter ended June 30, 2012, improved to $51,145 ($.00 per common share), compared to net loss of $68,259 ($.01 per common share) for the same quarter in the prior fiscal year. Sales for the fiscal first quarter ended September 30, 2012, declined 9.9 percent to $7,206,025, compared to $7,996,802 for the quarter ended September 30, 2011.

“A backlog of orders for our new SolarisPlus product line and other products dampened first quarter results,” said Kelvyn H. Cullimore Jr., chairman and president of Dynatronics. “This was compounded by reduced sales of capital exercise products, motorized treatment tables and certain other products, together with continued weakness in the economy.

“On a positive note,” Cullimore continued, “during the reporting quarter, we were successful in reducing SG&A and R&D costs by approximately $325,800. This allowed us to reduce the first quarter loss compared to last year despite the weakness in sales.”

Company management has developed a strategic plan to build on the popularity of the new SolarisPlus product line and overcome the current challenging economic trends. This plan calls for (1) an expansion of Dynatronics’ distribution channels to penetrate a broader segment of the market, and (2) the introduction of a record number of new products this fiscal year to boost interest in the company’s most profitable capital equipment products.

“The new products that are currently under development will allow us to expand distribution and help us capture greater market share in the physical medicine market,” Cullimore added. “The development of the new products is made possible by the technology platform we built over the past two years of intense R&D effort. As a result, the new products can be developed quickly and with minimal additional R&D expenditures.”

In a separate matter, Dynatronics announced the approval of its new GSA contract with the United States government. “This contract allows us to sell therapy equipment and medical supplies to the United States government, including its Veterans Affairs medical facilities and armed forces,” reported Larry K. Beardall, executive vice president of sales and marketing. “Initial orders from governmental facilities have been encouraging and we believe this segment of our business will flourish.”

“Our strategy of introducing new products, combined with our distribution channel expansion and continued effort to scale costs and overhead to current sales levels, is designed to enable Dynatronics to grow and improve its financial performance,” Cullimore concluded.

Dynatronics has scheduled a conference call for investors on Wednesday, November 14, 2012, at 4:30 p.m. ET. Those wishing to participate should call (800) 658-7107.

The following is a summary of the financial results as of September 30, 2012 and 2011, and for the three-month period then ended:

Summary Selected Financial Data

Statement of Operations Highlights

	Three Months Ended
	September 30,
	2012			2011
Net sales	$	7,206,025		$	7,996,802
Cost of sales		4,495,177			4,994,704
Gross profit		2,710,848			3,002,098
SG&A expenses		2,459,104			2,694,867
R&D expenses		266,268			356,347
Other expenses, net		59,085			56,812
Net loss before income tax benefit		(73,609	)		(105,928	)
Income tax benefit		22,464			37,669
Net loss	$	(51,145	)	$	(68,259	)
Diluted net loss per common share	$	(0.00	)	$	(0.01	)

Balance Sheet Highlights
	September 30,		June 30,
	2012		2012
Cash	$	285,639	$	278,263
Accounts receivable		3,704,913		3,667,086
Inventories		6,090,591		6,098,597
Total current assets		10,714,797		10,654,158
Total assets		15,238,039		15,270,930
Accounts payable		2,351,542		2,413,201
Accrued expenses		249,818		386,229
Line of credit		3,673,334		3,497,597
Total current liabilities		7,183,712		7,088,300
Total liabilities		8,998,057		9,004,615
Total liabilities and equity		15,238,039		15,270,930

Dynatronics manufactures, markets and distributes advanced-technology medical devices, orthopedic soft goods and supplies, treatment tables and rehabilitation equipment for the physical therapy, sports medicine, chiropractic, podiatry, plastic surgery, dermatology and other related medical, cosmetic and aesthetic markets. More information regarding Dynatronics is available at www.dynatronics.com.

This press release contains forward-looking statements. Those statements include references to the company’s expectations and similar statements such as the statement regarding expectations for future new product line introductions and growth. Actual results may vary from the views expressed in the forward-looking statements contained in this release. The development and sale of the company’s products are subject to a number of risks and uncertainties, including, but not limited to, changes in the regulatory environment, competitive factors, inventory risks due to shifts in market demand, market demand for the company’s products, availability of financing at cost-effective rates, and the risk factors listed from time to time in the company’s SEC reports.