Fonar Announces Fiscal 2025 Financial Results for 3rd Quarter and Nine-Month Period
Net Income increased 25% to $3.1 million for the quarter ended March 31, 2025 as compared to the quarter ended March 31, 2024. Income from Operations for the quarter ended March 31, 2025 decreased 2% to $3.7 million as compared to the quarter ended March 31, 2024. Diluted Net Income Per Common Share Available to Common Stockholders increased 37% to $0.37 per share for the quarter ended March 31, 2025 as compared to the quarter ended March 31, 2024.Total Revenues-Net...
2025-05-15 7:00 AM EDT
Fonar Announces Six Month and 2nd Quarter Financial Results for Fiscal 2025
MRI scan volume at HMCA managed sites increased 7% to 79,207 scans during the six-month period ended December 31, 2024, versus 73,776 scans for the six-month period ended December 31, 2023. MRI scan volume at HMCA owned sites decreased 4% to 26,961 scans during the six-month period ended December 31, 2024, versus 28,214 scans for the six-month period ended December 31, 2023.Cash and Cash Equivalents and Short-term Iinvestments decreased 5% to $53.7 million at December 31, 2024, versus the fiscal...
2025-02-18 7:37 AM EST
Fonar Announces Financial Results for the 1st Quarter of Fiscal 2025
Total MRI scan volume at the HMCA-managed sites increased 5% to 53,054 scans for the quarter ending September 30, 2024 versus the corresponding quarter one year earlier. Cash and cash equivalents decreased 4% to $54.2 million at September 30, 2024 as compared to the fiscal year-ended June 30, 2024.Total Revenues - Net decreased by 3% to $25.0 million for the quarter ended September 30, 2024 versus the corresponding quarter one year earlier.Income from Operations decreased 30% to $4.6 million for...
2024-11-12 7:00 AM EST
Fonar Announces Fiscal 2024 Financial Results
Total MRI scan volume at the HMCA-managed sites increased 11% to 209,327 scans for the fiscal year ending June 30, 2024 as compared to the prior year.Cash and Cash Equivalents increased 10% to $56.3 million at June 30, 2024 versus the previous fiscal year. Total Revenues - Net increased by 4% to $102.9 million for the fiscal year ended June 30, 2024 versus the previous fiscal year.Income from Operations increased 12% to $16.5 million for the fiscal year ended June...
2024-09-27 4:24 PM EDT
Fonar Announces Fiscal 2024 Financial Results for 3rd Quarter and Nine-Month Period
Total MRI scan volume at the HMCA-managed sites increased 11% to 154,790 scans for the nine-month period ended March 31, 2024 as compared to the nine-month period ended March 31, 2023. Net Income increased 25% to $12.5 million for the nine-month period ended March 31, 2024 as compared to the nine-month period ended March 31, 2023. Income from Operations for the nine-month period ended March 31, 2024 increased 24% to $15.2 million as compared to the nine-month period ended...
2024-05-15 7:30 AM EDT
Fonar Announces Six Months and 2nd Quarter Financial Results for Fiscal 2024
Total MRI scan volume at the HMCA-managed sites increased 13% to 101,990 scans for the six months ending December 31, 2023 versus the corresponding period one year earlier. Cash and cash equivalents and short-term investments increased 4% to $53.2 million at December 31, 2023, versus the fiscal year ended June 30, 2023. Total Revenues-Net for the six month period ended December 31, 2023 increased by 8% to $51.2 million, and for the quarter ended December 31, 2023 increased by 5%...
2024-02-14 7:00 AM EST
Fonar Announces Financial Results for the 1st Quarter of Fiscal 2024
On September 13, 2022, the Company adopted a stock repurchase plan of up to $9 million. At September 30, 2023, the Company has purchased 146,359 shares at a cost of $2,473,215.Total MRI scan volume at the HMCA-managed sites increased 14% to 50,744 scans for the quarter ending September 30, 2023 versus the corresponding quarter one year earlier. Cash and cash equivalents increased 1% to $51.7 million at September 30, 2023 as compared to the fiscal year-ended June 30, 2023.Total Revenues...
2023-11-14 7:00 AM EST
Fonar Announces Distributor Agreement with AIRS Medical, Leader in AI-Powered MRI Technology
Melville, New York--(Newsfile Corp. - November 8, 2023) - FONAR Corporation (NASDAQ: FONR), The Inventor of MR Scanning™, announces that it is now the exclusive distributor of SwiftMR™ from AIRS Medical, Inc. to FONAR customers for use on their FONAR MRIs or on any other MRI scanner they own. AIRS Medical is the leading Artificial Intelligence (AI)-powered healthcare solution provider.SwiftMR™, an FDA 510(k)-cleared software product, uses AI-powered denoising and sharpening to enhance the quality of MRI images and enable the...
2023-11-08 11:00 AM EST
FONAR Announces Financial Results for Fiscal 2023
On August 3, 2022, FONAR founder and The Father of MRI, Raymond V. Damadian, died at 86. At the time of his passing, Dr. Damadian was FONAR's Chairman of the Board. Timothy R. Damadian, FONAR's president and CEO since 2016 has been elected as Chairman of the Board.On September 13, 2022, the Company adopted a stock repurchase plan of up to $9 million. Total MRI scan volume at the HMCA-managed sites increased 1% to 188,348 scans for the fiscal...
2023-09-28 7:00 AM EDT
Fonar Announces Financial Results for Fiscal 2023 3rd Quarter and Nine-Month Period
Total MRI scan volume at the HMCA-managed sites increased 7% to 49,451 scans for the quarter ended March 31, 2023 versus the corresponding quarter one year earlier. For the nine-month period ended March 31, 2023, 139,339 scans were performed as compared to 140,650 for the corresponding nine-month period one year ago.Net Income increased 37% to $4.5 million for the quarter ended March 31, 2023 and decreased 27% to $9.9 million for the nine-month period ended March 31, 2023. Diluted...
2023-05-15 4:05 PM EDT
FONAR Board of Directors Appoints Independent Director
Melville, New York--(Newsfile Corp. - March 20, 2023) - FONAR Corporation (NASDAQ: FONR), The Inventor of MR Scanning, today announced that its board of directors appointed Jessica Maher as a replacement independent director to a vacancy on the Company's board of directors and audit committee.Timothy Damadian, chairman, president and CEO of FONAR, said, "FONAR's primary source of income and growth is attributable to its diagnostic imaging management subsidiary, Health Management Company of America (HMCA). As a management company, HMCA...
2023-03-20 11:37 AM EDT
Fonar Announces Six Months and 2nd Quarter Financial Results for Fiscal 2023
Total MRI scan volume at the HMCA-managed sites decreased 5% to 89,888 scans for the six months ending December 31, 2022 versus the corresponding period one year earlier. Cash and cash equivalents and short-term investments increased 2% to $49.5 million at December 31, 2022, versus the fiscal year ended June 30, 2022. Total Revenues-Net for the six month period ended December 31, 2022 decreased by 2% to $47.4 million, and for the quarter ended December 31, 2022 decreased by...
2023-02-14 7:00 AM EST
Fonar Corporation Designates Laurel Hill Advisory Group, LLC as Information Agent for the Company's $9 Million Share Repurchase Program
Melville, New York--(Newsfile Corp. - November 30, 2022) - FONAR Corporation (NASDAQ: FONR), The Inventor of MR Scanning™, announced today that the Company has engaged Laurel Hill Advisory Group, LLC as its Information Agent for the Company's previously announced share repurchase program.In September 2022, Fonar announced that its Board of Directors had approved a share repurchase program, pursuant to which the Company was authorized to purchase up to $9 million in value of shares of Fonar's common stock. Through...
2022-11-30 2:47 PM EST
FONAR Announces First Fiscal Quarter Earnings
Net cash provided by operating activities increased 117% to $2.7 million at September 30, 2022, versus the same quarter one year earlier.Cash and cash equivalents and short term investments at September 30, 2022 was $48 million and approximately the same at June 30, 2022.Book Value Per Share increased 5% to $22.05 per share at September 30, 2022, versus the same quarter one year earlier.Total MRI scan volume at the HMCA-managed sites decreased 8.3 % to 44,471 scans versus the same...
2022-11-14 7:00 AM EST
FONAR Announces Fiscal 2022 Financial Results
On August 3, 2022, FONAR founder and The Father of MRI, Raymond V. Damadian, died at 86. Dr. Damadian was the Chairman of the Board at the time of his passing. Since 2016 Dr. Damadian's son, Timothy Raymond Damadian, has been the president and CEO of FONAR. Timothy will also take over as Chairman of the Board.On September 13, 2022, the Company adopted a stock repurchase plan of up to $9 million. Total MRI scan volume at the...
2022-09-27 5:00 PM EDT
Raymond Vahan Damadian, the Father of MRI, Chairman and Founder of FONAR Corporation, Dies at 86
Melville, New York--(Newsfile Corp. - August 5, 2022) - FONAR Corporation (NASDAQ: FONR), The Inventor of MR Scanning™, reported today the passing of Founder and Chairman Raymond V. Damadian, MD on August 3, 2022.Highlights of the life of Dr. Raymond Damadian:Founded FONAR Corporation (1978), the first company in the MRI industry, maker of the QED80, the world's first MRI scanner (1980)Conceived the idea for MRI in 1969 Made the discovery in 1970 that is the b
2022-08-05 4:00 PM EDT
FONAR Announces 3rd Quarter and Nine-Month Period Financial Results for Fiscal 2022
Total MRI scan volume at the HMCA-managed sites increased 8% to 140,650 scans for the nine-month period ended March 31, 2022 versus the corresponding period one year earlier Income From Operations increased 37% to $5.6 million for the quarter ended March 31, 2022 as compared to the corresponding quarter one year ago. Income From Operations increased 35% to $17.9 million for the nine-month period ended March 31, 2022 as compared to the corresponding nine-month period one year ago. ...
2022-05-16 7:00 AM EDT
FONAR Announces Six Months and 2nd Quarter Financial Results for Fiscal 2022
Total MRI scan volume at the HMCA-managed sites increased 10 % to 94,460 scans for the six months ending December 31, 2021 versus the corresponding period one year earlier.Total Revenues-Net for the six month period ended December 31, 2021 increased by 14% to $48.2 million, and for the quarter ended December 31, 2021 increased by 16% to $24.5 million, versus corresponding periods one year earlier.Net Income for the six months ended December 31, 2021 increased 44% to $10.3 million, and...
2022-02-14 6:00 AM EST
Fonar Board of Directors Appoints Independent Director
Melville, New York--(Newsfile Corp. - November 23, 2021) - FONAR Corporation (NASDAQ: FONR), The Inventor of MR Scanning, today announced that on November 17, 2021, its board of directors appointed John Collins as a replacement independent director to a vacancy on the Company's board of directors and audit committee.Timothy Damadian, president and CEO of FONAR, said, "Our primary source of income and growth is attributable to FONAR's diagnostic imaging management subsidiary, Health Management Company of America (HMCA). Mr....
2021-11-23 2:07 PM EST
FONAR Announces First Fiscal Quarter Earnings
Total MRI scan volume at the HMCA-managed sites increased 11.6 % to 48,469 scans for the quarter ending September 30, 2021 versus the same quarter one year earlier. This is highest quarterly total in the Company's history.Diluted Net Income per Common Share increased 53% to $0.55 for the quarter ended September 30, 2021 versus the same quarter one year earlier.Total Revenues-Net increased by 13% to $23.7 million for the quarter ended September 30, 2021, versus the same quarter one year...
2021-11-15 7:01 AM EST