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Fonar Corporation - $FONR STOCK NEWS

Welcome to our dedicated page for Fonar Corporation news (Ticker: $FONR), a resource for investors and traders seeking the latest updates and insights on Fonar Corporation stock.

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Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
8.08%
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Rhea-AI Summary
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.
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Rhea-AI Sentiment
End-of-Day
21.08%
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Rhea-AI Summary
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%.
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Rhea-AI Sentiment
End-of-Day
0.15%
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AI
Rhea-AI Summary
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.
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Rhea-AI Sentiment
End-of-Day
0.94%
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partnership
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Rhea-AI Summary
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.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.44%
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Rhea-AI Summary
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.
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0.42%
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-0.4%
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2.64%
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Rhea-AI Summary
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-2.65%
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Rhea-AI Summary
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Rhea-AI Sentiment
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4.3%
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Fonar Corporation

Nasdaq:FONR

FONR Rankings

FONR Stock Data

105.28M
6.29M
1.83%
51.46%
0.13%
Electromedical and Electrotherapeutic Apparatus Manufacturing
Manufacturing
Link
United States of America
MELVILLE

About FONR

manufacturer of state-of-the-art mri equipment located in melvillle new york.