Fonar Corporation

Recent News

  • 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
  • Fonar Announces Financial Results for Fiscal 2021 as Diluted EPS Increases 23%

    Total MRI scan volume at the HMCA-managed sites increased 7 % to 178,364 scans for the fiscal year ending June 30, 2021 as compared to the prior year.Total Revenues-Net increased by 5% to $89.9 million for the fiscal year ended June 30, 2021, versus the previous fiscal year.Income from Operations increased 25% to $17.1 million for the fiscal year ended June 30, 2021, versus the previous fiscal year.Net Income increased 17% to $13.7 million for the fiscal year ended June...

    2021-09-28 7:30 AM EDT
  • Fonar Announces 3rd Quarter and Nine Months Results for Fiscal 2021; Income Increases 125%

    Net Income increased 125% to $4.3 million for the quarter ended March 31, 2021 as compared to the corresponding quarter one year ago. Income from Operations increased 58% to $4.1 million for the quarter ended March 31, 2021, as compared to the corresponding quarter one year ago. Diluted Net Income per Common Share Available to Common Stockholders increased 200% to $0.54 for the quarter ended March 31, 2021 as compared to the corresponding quarter one year ago. ...

    2021-05-13 7:30 AM EDT
  • FONAR Subsidiary, HMCA, Expands with Acquisition in Yonkers, New York

    Melville, New York--(Newsfile Corp. - March 31, 2021) - FONAR Corporation (NASDAQ: FONR), The Inventor of MR Scanning™, announced today that it has acquired a Stand-Up® MRI facility in Yonkers, New York, from where its diagnostic imaging management subsidiary, Health Management Company of America (HMCA) will provide non-medical management services for Comprehensive MRI of New York, P.C.Tim Damadian, president and CEO of FONAR Corporation, said, "We're very excited about this Yonkers location. Physicians have been referring their patients to the...

    2021-03-31 12:37 PM EDT