Dynatronics Corporation (DYNT) announced that the company’s Board of Directors have approved an additional $250,000 designated for their open market share repurchase program.

Dynatronics expects to make all purchases when cash from operations and their overall line of credit allow. At the current stock price of $1.13 per share, the full stock repurchase would comprise approximately 221,000 shares of stock, or approximately 2 percent of the company’s issued and outstanding shares. The purchases would be made at the discretion of management, and can be made over an indefinite period or terminated at any time.

Kelvyn H. Cullimore, president of Dynatronics, stated, “This decision reflects the confidence of management and our board of directors in the future of the company and our commitment to increasing shareholder value. At the current price, we feel the stock is undervalued and the repurchase of shares represents an appropriate use of our resources at this time.”

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