Welcome to our dedicated page for Fonar news (Ticker: FONR), a resource for investors and traders seeking the latest updates and insights on Fonar stock.
Fonar Corporation (NASDAQ: FONR) maintains its leadership in MRI technology innovation through continuous advancements in diagnostic imaging solutions. This dedicated news hub provides investors and healthcare professionals with essential updates on corporate developments, technological breakthroughs, and operational milestones.
Access real-time announcements covering quarterly earnings, equipment certifications, and strategic partnerships. Our curated feed ensures you never miss critical information about Fonar's patented multi-position scanning systems or its diagnostic center management subsidiary HMCA.
Key updates include regulatory filings, research collaborations, and service expansion initiatives. Bookmark this page for streamlined access to press releases detailing Fonar's contributions to medical imaging efficiency and patient care improvements.
FONAR Corporation (NASDAQ-FONR) reported financial results for the second quarter and six months ending December 31, 2020. Total revenues declined 2% to $42.1 million, while net income fell 18% to $7.2 million. However, net income for the latest quarter showed a 21% increase to $3.9 million compared to the previous quarter. Cash and cash equivalents rose 10% to $40.6 million. Operational challenges due to COVID-19 persist, but management anticipates a return to pre-pandemic scanning volumes. The company operates 38 managed MRI scanners and continues to invest in growth despite pandemic delays.
FONAR Corporation (FONR) has reported its first quarter fiscal 2021 results, revealing a 50% increase in MRI scan volume to 41,566 scans compared to the previous quarter, though down 13% year-over-year. Total revenues decreased 4% to $21 million, with net income down 28% to $3.3 million. SG&A expenses surged 44% due to COVID-19 related reserves. Cash and equivalents grew 5% to $38.8 million. Despite challenges, the company aims to resume pre-pandemic levels of operation and expects to install additional MRI scanners in the current fiscal year.
FONAR Corporation (NASDAQ-FONR) announced its inclusion in the Russell 3000® and Russell 2000® Indexes effective June 29, 2020. This milestone reflects the company's strong financial performance and aims to enhance visibility to investors. The Russell Indexes serve as benchmarks for approximately $9 trillion in assets, being widely used by investment managers and institutional investors. Founder and Chairman Raymond V. Damadian expressed pride in this recognition, highlighting a decade of improving operating performance.
FONAR Corporation (NASDAQ-FONR), known for pioneering MRI technology, has appointed Richard E. Turk as an independent director to its board, filling recent vacancies. This change follows the passing of board member Robert Janoff. CEO Timothy Damadian expressed optimism about Turk's background in expanding outpatient practices, as FONAR's growth is heavily linked to its subsidiary, Health Management Company of America. Turk's experience includes significant acquisition successes at PRISM Vision Group and Professional Physical Therapy, enhancing prospects for FONAR’s development.
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