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): September 30, 2013

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 September 30, 2013, Dynatronics Corporation (the “Registrant”) issued a press release announcing its financial results for the fiscal year ended June 30, 2013. 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 and is incorporated herein by reference. 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 September 30, 2013

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, 2013

EX-99.1

NEWS RELEASE

Contact:  Bob Cardon, Dynatronics Corporation                                                                                                           

 800-874-6251 or 801-568-7000

Dynatronics Announces Year-End Financial Results

Salt Lake City, Utah (September 30, 2013) – Dynatronics Corporation (NASDAQ: DYNT) today announced results for its fiscal year ended June 30, 2013.

Net sales in fiscal year 2013 decreased to $29,538,275, compared to $31,664,181 in fiscal year 2012. Net loss for the year was $44,371 ($.02 per common share), compared to a net loss of $23,535 ($.01 per common share) for the prior fiscal year. (All per-share amounts reflect the company’s one-for-five reverse stock split, effective December 19, 2012.)

“The $2,125,906 decrease in sales for the year is characterized by sales reductions evenly split between supplies and capital equipment distributed for other manufacturers,” stated Kelvyn H. Cullimore Jr., chairman and president of Dynatronics. “Approximately 20 percent of the reduced sales are attributable to a capital equipment manufacturer that changed its distribution paradigm, negatively impacting our sales of their products.  The reductions in sales of distributed medical supplies during the year also include the impact of a large customer that discontinued operations in early 2012.

 “On a positive note, sales of our proprietary manufactured products actually increased over the prior year,” said Cullimore, “with significant gains in sales of the new Dynatron SolarisPlus family of products. These gains offset lower sales of some of our other proprietary products. Fiscal year 2013 saw the culmination of years of increased R&D expenditures and strategic planning, resulting in the introduction of a record number of innovative devices.”

New products introduced over the past year include not only the SolarisPlus line, but also the company’s Tri-Wave Phototherapy Probe and Pad, Ultra 2 and Ultra 3 treatment tables, and 25 Series line of electrotherapy and ultrasound products. “But the innovation doesn’t stop there,” said Cullimore. “An important new product – the Thermostim Probe – is scheduled for introduction next quarter and will be one of our most innovative and revolutionary products in our history.”

The Dynatron ThermoStim ProbeTM is a soft-tissue mobilization tool that also allows a practitioner to deliver heat or cold therapy in combination with electrical stimulation—all at the same time.  An optional accessory to our new SolarisPlus family of products, this revolutionary tool facilitates the delivery of three different therapies in one treatment, significantly reducing the time typically required to administer separate treatments.

“This groundbreaking probe is expected to generate significant demand – not only for the probe, but also for the new SolarisPlus units, which serve as the control consoles for the probe,” reported Larry K. Beardall, executive vice president of sales and marketing. “By leveraging proprietary technology, the new ThermoStim Probe will be the catalyst to boost sales and attract new distributors, beginning midway through fiscal year 2014.”

The company expects that its large number of new product introductions will open new doors of distribution, and has begun an aggressive expansion of its distribution channels to capture greater market share.

During fiscal year 2013, Dynatronics reduced SG&A and R&D expenses by $935,000, which offset the $856,600 reduction in gross profit for the year. Management has identified an additional $500,000 in expense reductions for fiscal year 2014.

“We believe the introduction of a record number of products this last year and in the new fiscal year, together with the anticipated introduction of the Thermostim Probe, plus our new strategy for expanding the distribution of products, positions us well for a new growth phase,” concluded Cullimore.

Dynatronics has scheduled a conference call for investors today, Monday, September 30, 2013, at 3:30 p.m. ET. Those wishing to participate should call (800) 633-8950.

The following is a summary of the financial results as of June 30, 2013 and 2012, and for the year then ended:

Summary Selected Financial Data

Statement of Operations Highlights

	2013			2012
Net sales	$	29,538,275			31,664,181
Cost of sales		18,451,673			19,720,948
Gross profit		11,086,602			11,943,233
Selling, general, and administrative expenses		9,860,964			10,506,460
Research and development expenses		1,120,887			1,410,406
Total other expense		235,876			216,608
Loss before income tax benefit		(131,125	)		(190,241	)
Income tax benefit		86,754			166,706
Net  loss	$	(44,371	)		(23,535	)
Diluted net loss per common share	$	(0.02	)		(0.01	)

Balance Sheet Highlights

	2013		2012
Cash and cash equivalents	$	302,050		278,263
Trade accounts receivable		3,246,712		3,667,086
Inventories, net		6,407,553		6,098,597
Total current assets		10,879,449		10,654,158
Total assets	$	15,104,587		15,270,930
Line of credit		3,496,390		3,497,597
Accounts payable		2,751,894		2,413,201
Accrued expenses		347,221		386,229
Accrued payroll and benefits expense		216,266		215,218
Total liabilities		8,895,637		9,004,615
Total liabilities and stockholders' equity	$	15,104,587		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 introductions, reductions in operating expense in future periods, and plans to expand distribution.  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.