Fonar Corp - FONR STOCK NEWS

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.

FONAR Corporation (NASDAQ: FONR) reported strong financial results for the six-month period and 2nd quarter of fiscal 2024. Total MRI scan volume at HMCA-managed sites increased by 13%, reaching 101,990 scans. Cash and short-term investments rose to $53.2 million. Total Revenues-Net grew by 8% to $51.2 million for the six months ended December 31, 2023. Income from Operations surged by 41% to $11.4 million, and Net Income spiked by 83% to $10.0 million. Diluted Net Income per Common Share increased by 87% to $1.12. SG&A expenses decreased by 15%. The company also repurchased shares worth $3.6 million. FONAR's CEO, Timothy Damadian, highlighted record scan volumes and the opening of new MRI centers, expressing optimism for the future.

FONAR Corporation (NASDAQ: FONR) reports financial results for the first quarter of fiscal 2024, showing impressive growth in total revenues, income from operations, net income, and diluted net income per common share, along with significant increases in total MRI scan volume and cash and cash equivalents.

FONAR Corporation (NASDAQ: FONR) announces exclusive distribution of SwiftMR™ from AIRS Medical, Inc., an AI-powered healthcare solution provider. SwiftMR™, an FDA 510(k)-cleared software product, uses AI-powered denoising and sharpening to enhance MRI image quality, reducing scan times by up to 50%.

AIRS Medical, the leading AI-powered healthcare solution provider, has partnered with FONAR Corporation to expand business in North America. The partnership allows AIRS Medical to extend its SwiftMR™ product to lower-field MRI scanners, increasing market reach. SwiftMR™ reduces MRI scan times by up to 50% while improving image quality using AI-powered denoising and sharpening. The partnership aims to accelerate growth and strengthen business capabilities in the U.S. market.

FONAR Corporation reports Fiscal 2023 results. Total revenues increased by 1% to $98.6 million. Income from Operations decreased by 33% to $14.8 million. Net Income decreased by 30% to $12.1 million. Diluted Net Income per Common Share decreased by 25% to $1.32. Cash and cash equivalents increased by 5% to $51.3 million. Working Capital increased by 8% to $110.0 million.

FONAR Corporation reported its financial results for the 3rd fiscal 2023 quarter and nine-month period ended March 31, 2023. Total MRI scan volume increased by 7% for the quarter and decreased by 1% for the nine-month period compared to the previous year. Net Income increased by 37% for the quarter but decreased by 27% for the nine-month period. Diluted Net Income Per Common Share increased by 72% for the quarter but decreased by 19% for the nine-month period. Total Revenues-Net increased by 3% for the quarter and remained the same for the nine-month period. Total Cash, Cash Equivalents, and Short Term Investments increased by 2%. Net Book Value per Common Share increased by 6%. FONAR's primary source of income and growth is its diagnostic imaging management subsidiary, HMCA.