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Fonar Corporation (NASDAQ: FONR) maintains its leadership in MRI technology innovation through continuous advancements in diagnostic imaging solutions. This dedicated news hub provides investors and healthcare professionals with essential updates on corporate developments, technological breakthroughs, and operational milestones.
Access real-time announcements covering quarterly earnings, equipment certifications, and strategic partnerships. Our curated feed ensures you never miss critical information about Fonar's patented multi-position scanning systems or its diagnostic center management subsidiary HMCA.
Key updates include regulatory filings, research collaborations, and service expansion initiatives. Bookmark this page for streamlined access to press releases detailing Fonar's contributions to medical imaging efficiency and patient care improvements.
FONAR Corporation (NASDAQ: FONR), known for inventing MR Scanning, has appointed Robert M. Carrino as an independent director to its board, replacing retiring director Claudette J.V. Chan. The company's subsidiary, Health Management Company of America (HMCA), currently manages 44 MRI scanners in New York and Florida, performing over 200,000 MRI scans annually.
Carrino, a partner at CFGI, LLC in New York City, brings extensive public accounting experience and leads the firm's SPAC practice. His appointment is particularly significant as FONAR transitions into accelerated filer status. Previously, Carrino served as an audit manager at KPMG, LLP and holds a Bachelor of Science in Business Administration with an accounting concentration.
FONAR (NASDAQ: FONR) reported financial results for Q2 fiscal 2025. MRI scan volume at HMCA managed sites increased 7% to 79,207 scans, while owned sites decreased 4% to 26,961 scans during the six-month period ended December 31, 2024.
Key financial metrics showed overall decline: Total revenues decreased 3% to $49.9M for the six-month period, Income from Operations fell 38% to $7.2M, and Net Income decreased 36% to $6.4M. Diluted EPS dropped 33% to $0.75. Cash and equivalents decreased 5% to $53.7M.
The company continues its stock repurchase plan announced September 2022, having repurchased 343,485 shares at $5.6M cost. HMCA currently manages 43 MRI scanners across New York (25) and Florida (18), with plans to add high-field MRIs at two existing centers in Nassau County, NY.
FONAR (NASDAQ: FONR) reported financial results for Q1 fiscal 2025. Total MRI scan volume increased 5% to 53,054, while total revenues decreased 3% to $25.0 million. Income from operations fell 30% to $4.6 million, and net income declined 25% to $4.0 million. Diluted earnings per share decreased 22% to $0.46. The company's cash position decreased 4% to $54.2 million. Working capital improved 2% to $124.7 million. HMCA, FONAR's diagnostic imaging subsidiary, now manages 43 MRI scanners, with one new scanner added in Florida. The company continues its stock repurchase plan, having bought 283,770 shares for $4.68 million.
Fonar (NASDAQ: FONR) announced its fiscal 2024 Q3 and nine-month financial results. Total MRI scan volume at HMCA-managed sites increased 11% to 154,790 scans for the nine-month period ended March 31, 2024. Net income rose 25% to $12.5 million, while net revenue increased 6% to $76.9 million for the same period. Income from operations grew 24% to $15.2 million, and diluted net income per share rose 21% to $1.40. Despite these gains, quarterly figures showed a 10% decline in income from operations and a 45% drop in net income. Total cash and short-term investments grew 5% to $54.1 million. The total assets were $209.6 million, with total liabilities at $52.6 million.
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