FONAR Corporation, together with its subsidiaries, engages in the research, development, production, and marketing of magnetic resonance imaging (MRI) scanners for the detection and diagnosis of human diseases in the United States. The company operates through two segments, Medical Equipment segment, and Physician Management and Diagnostic services segment. It provides Upright MRI scanner that allows patients to be scanned in weight-bearing conditions, such as standing, sitting, bending, or lying down. The company offers non-medical management, including administrative services, billing and collection services, credentialing services, contract negotiations, compliance consulting, purchasing IT services, hiring, conducting interviews, training, supervision and management of non-medical personnel, storage of medical records, office space, equipment, repair maintenance services, accounting, assistance with compliance matters and the development and implementation of practice growth and marketing strategies. The company owns and operates 5 diagnostic imaging facilities in Florida; and manages 39 MRI scanning facilities, including 25 facilities located in New York and 14 situated in Florida. It markets its scanners to private diagnostic imaging centers and hospitals. The company was incorporated in 1978 and is based in Melville, New York.
IPO Year: 1981
Exchange: NASDAQ
Website: fonar.com
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4 - FONAR CORP (0000355019) (Issuer)
4 - FONAR CORP (0000355019) (Issuer)
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Cash and cash equivalents decreased 4% to $54.3 million at September 30, 2025 as compared to the fiscal year-ended June 30, 2025.Total Revenues - Net increased by 4% to $26.0 million for the quarter ended September 30, 2025 versus the corresponding quarter one year earlier.Income from Operations decreased 30% to $3.2 million for the quarter ended September 30, 2025 versus the corresponding quarter one year earlier.Consolidated Net Income decreased 33% to $2.7 million for the quarter ended September 30, 2025 versus the corresponding quarter one year earlier.Diluted Net Income per Common Share decreased 26% to $0.34 for the quarter ended September 30, 2025 versus the corresponding quarter one
Cash and Cash Equivalents was $56.3 million at June 30, 2025 and the previous fiscal year. Total Revenues - Net increased 1% to $104.4 million for the fiscal year ended June 30, 2025 versus the previous fiscal year.Income from Operations decreased 30% to $11.6 million for the fiscal year ended June 30, 2025 versus the previous fiscal year. Net Income decreased 24% to $10.7 million for the fiscal year ended June 30, 2025 versus the previous fiscal year.Diluted Net Income per Common Share decreased 20% to $1.23 for the fiscal year ended June 30, 2025 versus the previous fiscal year.Working Capital increased by 4% to $127.5 million for the fiscal year ended June 30, 2025 versus the previous fis
Melville, New York--(Newsfile Corp. - July 18, 2025) - The Special Committee of the Board of Directors of FONAR Corporation (NASDAQ:FONR) ("FONAR"), The Inventor of MR Scanning™, today confirmed receipt of a supplemental proposal letter, dated July 17, 2025, from the Proposed Acquisition Group led by Timothy Damadian. The supplemental letter states that the Proposed Acquisition Group is contemplating the pursuit of a plan to acquire all of the outstanding shares capital stock of FONAR not currently owned by the Proposed Acquisition Group, at a price of $17.25 per share in cash. The letter states that the proposed share price represents a premium of approximately 27% over the average closin
Melville, New York--(Newsfile Corp. - July 9, 2025) - FONAR Corporation (NASDAQ:FONR) ("FONAR"), The Inventor of MR Scanning™, today announced that its board of directors (the "Board") received a preliminary, non-binding proposal letter, dated July 7, 2025 from a Proposed Acquisition Group led by Timothy Damadian and consisting of certain members of the management team and Board of Directors of FONAR Corporation and third parties, to acquire all of the outstanding capital stock of FONAR not currently owned by the Proposed Acquisition Group, at a price per share anticipated to be "at a premium of no less than 10% to the average closing market price of FONAR's common stock for the 90 trading d
Melville, New York--(Newsfile Corp. - July 2, 2025) - FONAR Corporation (NASDAQ:FONR), The Inventor of MR Scanning, today announced that on July 2, 2025, its board of directors appointed Mr. Robert M. Carrino as an independent director of the Company's board of directors. This appointment fills a vacancy on the board left by Ms. Claudette J.V. Chan, who recently retired from her position. The Company is very grateful for Ms. Chan's years of service and loyalty to FONAR.Timothy Damadian, chairman and CEO of FONAR, said, "Our primary source of income and growth is attributable to our diagnostic imaging management subsidiary, Health Management Company of America (HMCA). In 2009, HMCA managed 9
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 increased 6% to $27.2 million for the quarter ended March 31, 2025 as compared to the quarter ended March 31, 2024. Total Cash, Cash Equivalents and Short-Term Investments decreased 4% to $54.4 million at March 31, 2025 as compar
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 year ended June 30, 2024. Total Revenues-Net for the six-month period ended December 31, 2024, decreased by 3% to $49.9 million, and for the quarter ended December 31, 2024, decreased by 2% to $25.0
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 the quarter ended September 30, 2024 versus the corresponding quarter one year earlier.Net Income decreased 25% to $4.0 million for the quarter ended September 30, 2024 versus the corresponding quart
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 Net Income Per Common Share Available to Common Stockholders increased 72% to $0.55 for the third fiscal quarter ended March 31, 2023 and decreased 19% to $1.16 for the nine-month period ended March 31, 2023. Tota
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 bills and collects for all services rendered at HMCA-managed and HMCA-owned facilities. These facilities, all of them located in New York and Florida and coll
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Melville, New York--(Newsfile Corp. - July 2, 2025) - FONAR Corporation (NASDAQ:FONR), The Inventor of MR Scanning, today announced that on July 2, 2025, its board of directors appointed Mr. Robert M. Carrino as an independent director of the Company's board of directors. This appointment fills a vacancy on the board left by Ms. Claudette J.V. Chan, who recently retired from her position. The Company is very grateful for Ms. Chan's years of service and loyalty to FONAR.Timothy Damadian, chairman and CEO of FONAR, said, "Our primary source of income and growth is attributable to our diagnostic imaging management subsidiary, Health Management Company of America (HMCA). In 2009, HMCA managed 9
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 bills and collects for all services rendered at HMCA-managed and HMCA-owned facilities. These facilities, all of them located in New York and Florida and coll
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. Collins' extensive experience in dealing with insurance companies will be very helpful to HMCA. As a management company, HMCA bills and collects for all services rendered
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Cash and cash equivalents decreased 4% to $54.3 million at September 30, 2025 as compared to the fiscal year-ended June 30, 2025.Total Revenues - Net increased by 4% to $26.0 million for the quarter ended September 30, 2025 versus the corresponding quarter one year earlier.Income from Operations decreased 30% to $3.2 million for the quarter ended September 30, 2025 versus the corresponding quarter one year earlier.Consolidated Net Income decreased 33% to $2.7 million for the quarter ended September 30, 2025 versus the corresponding quarter one year earlier.Diluted Net Income per Common Share decreased 26% to $0.34 for the quarter ended September 30, 2025 versus the corresponding quarter one
Cash and Cash Equivalents was $56.3 million at June 30, 2025 and the previous fiscal year. Total Revenues - Net increased 1% to $104.4 million for the fiscal year ended June 30, 2025 versus the previous fiscal year.Income from Operations decreased 30% to $11.6 million for the fiscal year ended June 30, 2025 versus the previous fiscal year. Net Income decreased 24% to $10.7 million for the fiscal year ended June 30, 2025 versus the previous fiscal year.Diluted Net Income per Common Share decreased 20% to $1.23 for the fiscal year ended June 30, 2025 versus the previous fiscal year.Working Capital increased by 4% to $127.5 million for the fiscal year ended June 30, 2025 versus the previous fis
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 the quarter ended September 30, 2024 versus the corresponding quarter one year earlier.Net Income decreased 25% to $4.0 million for the quarter ended September 30, 2024 versus the corresponding quart
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 Net Income Per Common Share Available to Common Stockholders increased 72% to $0.55 for the third fiscal quarter ended March 31, 2023 and decreased 19% to $1.16 for the nine-month period ended March 31, 2023. Tota
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 30, 2021 versus the previous fiscal year.Diluted Net Income per Common Share increased 23% to $1.45 for the fiscal year ended June 30, 2021 versus the previous fiscal year. Book Value Per Share increased by 6% to $20.41 per s
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