Fonar Corporation

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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

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