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This is Kelvyn Cullimore, President and CEO of Dynatronics. We would like to welcome everybody to our conference call reporting the results of the third fiscal quarter ending March 31, 2011.
The purpose of today’s call is to discuss the financial results for that quarter. And before we begin, as a reminder, during the course of the call we may make forward-looking statements regarding future events or the future financial performance of the company. Those statements involve risks and uncertainties that could cause actual results to differ, perhaps materially from the results projected in such forward-looking statements. We caution you that any such statements should be considered in conjunction with the disclosures including specific risk factors and financial data contained in the company’s most recent filings with the SEC, including its most recent annual report on Form 10-K.
So today, I am going to update you on our results for our third fiscal quarter ended March 31, 2011. And following the presentation, I’ll open it up for any questions that you may have and we will do our best to give you the most information that we can.
As you’ve probably seen from the press release that went out this morning, we reported an improvement over the quarter for same quarter last year. Our sales were up about 2% to $8,383,000. We are somewhat pleased with that increase because the markets – the general economy continues to show weakness in especially capital equipment areas. Our manufacturing modalities are lingering behind other sales, because of that. But what we did see in this particular quarter that was encouraging was that we saw for the first time an uptick in new clinic openings and clinic expansions.