Dynatronics Lowered FY24 Net Sales Outlook To $32.5M-$34M (From $34M-$37M Prior), Vs Est. $34.2M
Portfolio Pulse from Benzinga Newsdesk
Dynatronics has revised its FY24 net sales forecast downwards to $32.5M-$34M from the previous $34M-$37M, citing slower demand in the rehabilitation space and changes in private label customer relationships. The company has not provided gross margin guidance and is focusing on business stabilization before reinstating such forecasts. SG&A expenses are expected to be 30%-32% of net sales.
May 09, 2024 | 2:56 pm
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Dynatronics lowers FY24 net sales forecast to $32.5M-$34M, indicating challenges in the rehabilitation market and shifts in customer dynamics.
The downward revision of the FY24 net sales outlook by Dynatronics directly impacts investor sentiment and the company's stock price. The reasons provided, such as slower demand in the rehabilitation space and changes in private label customer relationships, suggest operational and market challenges that could affect the company's financial performance. The lack of gross margin guidance further adds to the uncertainty, potentially leading to negative investor perception in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100