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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SC 13G/A - FONAR CORP (0000355019) (Subject)
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
Total MRI scan volume at the HMCA-managed sites decreased 5% to 89,888 scans for the six months ending December 31, 2022 versus the corresponding period one year earlier. Cash and cash equivalents and short-term investments increased 2% to $49.5 million at December 31, 2022, versus the fiscal year ended June 30, 2022. Total Revenues-Net for the six month period ended December 31, 2022 decreased by 2% to $47.4 million, and for the quarter ended December 31, 2022 decreased by 1% to $24.3 million, versus corresponding periods one year earlier.Income from Operations for the six month period ended December 31, 2022 decreased 33% to $8.1 million, and for the quarter ended December 31, 2022 decrea
Melville, New York--(Newsfile Corp. - November 30, 2022) - FONAR Corporation (NASDAQ:FONR), The Inventor of MR Scanning™, announced today that the Company has engaged Laurel Hill Advisory Group, LLC as its Information Agent for the Company's previously announced share repurchase program.In September 2022, Fonar announced that its Board of Directors had approved a share repurchase program, pursuant to which the Company was authorized to purchase up to $9 million in value of shares of Fonar's common stock. Through November 25, 2022, Fonar had purchased approximately $200,000 of Fonar shares. Laurel Hill has been engaged to assist the Company in making Fonar stockholders aware of the program
Net cash provided by operating activities increased 117% to $2.7 million at September 30, 2022, versus the same quarter one year earlier.Cash and cash equivalents and short term investments at September 30, 2022 was $48 million and approximately the same at June 30, 2022.Book Value Per Share increased 5% to $22.05 per share at September 30, 2022, versus the same quarter one year earlier.Total MRI scan volume at the HMCA-managed sites decreased 8.3 % to 44,471 scans versus the same quarter one year earlier. Diluted Net Income per Common Share was $0.29 for the quarter ended September 30, 2022.Total Revenues-Net was $23.2 million for the quarter ended September 30, 2022.Net Income was $2.7 mil
On August 3, 2022, FONAR founder and The Father of MRI, Raymond V. Damadian, died at 86. Dr. Damadian was the Chairman of the Board at the time of his passing. Since 2016 Dr. Damadian's son, Timothy Raymond Damadian, has been the president and CEO of FONAR. Timothy will also take over 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 5% to 186,448 scans for the fiscal year ending June 30, 2022 as compared to the prior year.Cash and cash equivalents increased 10% to $48.7 million at June 30, 2022 versus the previous fiscal year. Total Revenues-Net increased by 9% to $97.
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 basis for the making of every MRI image ever produced, the foundation of the MRI industry. Dr. Damadian discovered that there is a marked difference in the relaxation times of NMR (MRI) signals from normal and cancerous tissues of the sa
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
10-Q - FONAR CORP (0000355019) (Filer)
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10-Q - FONAR CORP (0000355019) (Filer)
NT 10-Q - FONAR CORP (0000355019) (Filer)
8-K - FONAR CORP (0000355019) (Filer)
10-Q - FONAR CORP (0000355019) (Filer)
8-K - FONAR CORP (0000355019) (Filer)
10-K - FONAR CORP (0000355019) (Filer)
8-K - FONAR CORP (0000355019) (Filer)
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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