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, 2011.

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, 2011, the registrant issued a press release announcing its financial results for the fiscal first quarter ended September 30, 2011.  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 November 14, 2011

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 15, 2011

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, 2011) – Dynatronics Corporation (NASDAQ: DYNT) today announced results for its fiscal first quarter ended September 30, 2011.

Sales for the quarter ended September 30, 2011, increased one percent to $7,996,802, compared to $7,919,288 for the quarter ended September 30, 2010. Net loss for the quarter ended September 30, 2011, was $68,259 ($.01 per common share), compared to net income of $17,012 ($.00 per common share) for the same quarter in the prior fiscal year.

“Significant investment in R&D, combined with higher selling expenses associated with developing the Group Purchasing Organization (GPO) business, diminished our bottom-line results for the quarter,” stated Kelvyn H. Cullimore Jr., chairman and president of Dynatronics. “Investing in the future through development of new products and cultivation of new sales opportunities like the GPOs can have a short-term negative impact on profitability, as it has this quarter, but is essential to the long-term financial health of the company.”

“We expect to introduce new products in the spring of 2012 at which point R&D expenditures are expected to return to more traditional levels.  In addition, we expect to see greater progress with GPO’s and national accounts in the coming quarters that will help justify the investment currently being made to cultivate that business,” continued Cullimore.

In 2011, Dynatronics announced the signing of contracts with four GPOs: Premier, Inc., Amerinet, Inc., FirstChoice Cooperative and Champs Group Purchasing. These contracts became effective in March and June 2011.

“Developing business through these GPO contracts and seeking additional contracts with other GPOs and national accounts will continue to be a major focus for us for the next several years,” stated Larry K. Beardall, executive vice president of sales and marketing. “Our sales directors are busy training our sales representatives on converting the new GPO clinics and hospitals to our brand. In addition, we are working with a dozen additional GPO groups and national accounts to sign preferred vendor contracts,” added Beardall.

“With the new products under development and the potential of increased sales to new GPO clinics and national accounts, we continue to be optimistic about the future,” Cullimore concluded.

Dynatronics has scheduled a conference call for investors on Monday, November 14, 2011, at 1:30 p.m. ET. Those wishing to participate should call (800) 926-5230 and use access code 5687000.

Following is a summary of the financial results as of September 30, 2011 and 2010, and for the three-month periods then ended:

Summary Selected Financial Data

Statement of Income Highlights

	Three Months Ended
	September 30,
	2011			2010
Net sales	$	7,996,802		$	7,919,288
Cost of sales		4,994,704			4,967,455
Gross profit		3,002,098			2,951,833
SG&A expenses		2,694,867			2,500,517
R&D expenses		356,347			349,796
Other expenses, net		56,812			71,783
Net income (loss) before income taxes		(105,928	)		29,737
Income tax benefit (provision)		37,669			(12,725	)
Net income (loss)	$	(68,259	)	$	17,012
Diluted income (loss) per common share	$	(0.01	)	$	0.00

Balance Sheet Highlights
	September 30,		June 30,
	2011		2011
Cash	$	340,962	$	384,904
Accounts receivable		3,862,602		3,672,128
Inventories		5,789,189		5,647,815
Total current assets		10,758,879		10,432,811
Total assets		15,141,152		14,819,181
Accounts payable		2,150,552		2,127,163
Accrued expenses		358,706		379,336
Line of credit		3,191,971		2,583,937
Total current liabilities		6,653,876		5,880,080
Total liabilities		8,879,399		8,204,022
Total liabilities and equity		15,141,152		14,819,181

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 from GPO contracts. 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 including, but not limited to, the report on

Form 10-K for the year ended June 30, 2011.