MELVILLE, NY--(Marketwired - May 10, 2016) - FONAR Corporation (NASDAQ: FONR)
Third Quarter Fiscal 2016 Net Revenues increased 9% to $18.6 million versus the same period a year earlier.
Third Quarter Fiscal 2016 Diluted Net Income Per Common Share Available to Common Stockholders increased 45% to $0.45 per share versus the same period a year earlier.
At March 31, 2016 Cash and Cash Equivalents increased 39% to $13.1 million from $9.4 million at June 30, 2015.
Third Quarter Fiscal 2016 Income from Operations increased 54% to $4.1 million versus the same period a year earlier.
Third Quarter Fiscal 2016 Net Income increased 54% to $3.9 million versus the same period a year earlier.
Company appoints Timothy R. Damadian as President and CEO of FONAR.
Company announces date of annual shareholder's meeting: June 13, 2016.
Fonar Corporation (NASDAQ: FONR), The Inventor of MR Scanning™, reported its fiscal 2016 third quarter and nine-months results for the period ended March 31, 2016. FONAR, a leader in the MRI industry, is the first to manufacture an MRI (Magnetic Resonance Imaging) scanner. FONAR's substantial list of patents includes recent patents for its technology enabling full weight-bearing MRI imaging in all the gravity-sensitive regions of the human anatomy, especially the brain, extremities, and spine.
The Company's two industry segments: HMCA, which manages 25 FONAR-equipped centers (all but one are equipped with UPRIGHT® Multi-Position™ MRIs); and the development, manufacturing and servicing of the FONAR scanners. Its premier MRI product, the FONAR UPRIGHT® Multi-Position™ MRI scanner, is the world's only MRI scanner licensed under FONAR's multiple UPRIGHT® Multi-Position™ MRI patents to scan all the patient's body parts in their normal fully weight-bearing UPRIGHT® positions.
Third Quarter Fiscal 2016 Net Revenues increased 9% to $18.6 million versus the same period a year earlier.
Third Quarter Fiscal 2016 Diluted Net Income Per Common Share Available to Common Stockholders increased 45% to $0.45 per share versus the same period a year earlier.
At March 31, 2016 Cash and Cash Equivalents increased 39% to $13.1 million from $9.4 million at June 30, 2015.
Third Quarter Fiscal 2016 Income from Operations increased 54% to $4.1 million versus the same period a year earlier.
Third Quarter Fiscal 2016 Net Income increased 54% to $3.9 million versus the same period a year earlier.
Company appoints Timothy R. Damadian as President and CEO of FONAR.
Company announces date of annual shareholder's meeting: June 13, 2016.
Fonar Corporation (NASDAQ: FONR), The Inventor of MR Scanning™, reported its fiscal 2016 third quarter and nine-months results for the period ended March 31, 2016. FONAR, a leader in the MRI industry, is the first to manufacture an MRI (Magnetic Resonance Imaging) scanner. FONAR's substantial list of patents includes recent patents for its technology enabling full weight-bearing MRI imaging in all the gravity-sensitive regions of the human anatomy, especially the brain, extremities, and spine.
The Company's two industry segments: HMCA, which manages 25 FONAR-equipped centers (all but one are equipped with UPRIGHT® Multi-Position™ MRIs); and the development, manufacturing and servicing of the FONAR scanners. Its premier MRI product, the FONAR UPRIGHT® Multi-Position™ MRI scanner, is the world's only MRI scanner licensed under FONAR's multiple UPRIGHT® Multi-Position™ MRI patents to scan all the patient's body parts in their normal fully weight-bearing UPRIGHT® positions.
