DynTek Inc (fka DYNE) (DYNE)

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DynTek Announces Results for Fiscal Year 2010

Fiscal Year Results
DynTek reported revenues of $85,589,000 for the fiscal year ended June 30, 2010, an increase of $715,000 from $84,874,000 in fiscal year 2009. Gross profit increased to $16,606,000 for the fiscal year ended June 30, 2010, an increase of $246,000 from $16,360,000 for the prior fiscal year. Total operating expenses decreased to $14,280,000 in the fiscal year ended June 30, 2010 compared to $19,788,000 in the prior fiscal year. This decrease in operating expenses is primarily due to a fourth quarter 2009 impairment of goodwill and intangibles charge of $4,436,000, but also contributing is a year over year decrease to general and administrative expenses of $740,000