FONAR Granted Additional NASDAQ Extension

MELVILLE, NY--(Marketwire - 06/29/09) - FONAR Corporation (NASDAQ:FONR - News), the Inventor of MR Scanning�, today announced that the NASDAQ Listing and Hearing Review Council (the "Listing Council") has determined to continue the listing of the Company's securities on The NASDAQ Capital Market, subject to the condition that, on or before October 5, 2009, the Company evidence compliance with NASDAQ's net income requirement by evidencing a minimum of $500,000 in net income for the fiscal year ending June 30, 2009. In a written decision to the Company on June 24, 2009, the Listing Council said, "... of significance to the Listing Council in making its determination are the substantial tangible steps made by the Company toward regaining compliance with Nasdaq's continued listing standards, which involved substantial cost-cutting and reorganization of the Company's business in a successful effort to become profitable. ... the Company has reported net income of over $700,000 for the last two fiscal quarters, has reported net income in excess of $1 million for the (first) nine months of the Company's current fiscal year (ending June 30, 2009)... . The Listing Council takes note that, but for the net income deficiency, the Company would be in compliance with Nasdaq's continued listing standards. Accordingly, the Listing Council is willing to grant a short extension of time ... to allow the Company to demonstrate compliance with the Capital Market continued listing standards."Raymond Damadian, president and chairman of FONAR said, ...
Click here to read the whole Article (external link)

FONAR Reports Fiscal 2009 Year-End Financial Results

MELVILLE, NY--(Marketwire - 10/05/09) - FONAR Corporation (NASDAQ:FONR - News), The Inventor of MR Scanning(TM), today announced its financial results for the fiscal year ending June 30, 2009. Total net income for the fiscal year ended June 30, 2009 was $1.1 million, as compared to a net loss of $13.5 million for fiscal 2008. The net income per share (basic and diluted) for the fiscal year ended June 30, 2009 was $0.21, as compared to a net loss per share (basic and diluted) of $2.76 during fiscal 2008. Raymond V. Damadian, Chairman and President of Fonar Corporation, said, "We are very pleased to see the Company return to profitability. We have now made a profit for three quarters straight and are hopeful to continue this trend of profitability. A very sound reason is that the FONAR UPRIGHT� Multi-Position(TM) MRI technology (Dynamic MRI) is the only participant in this unique market. The impact of FONAR's patented technology on net income growth can be seen in Fig. 1."Total revenues increased by 12% to $39.7 million for the fiscal year ended June 30, 2009 as compared to $35.6 million for fiscal 2008.Total costs and expenses related to operations decreased 23%, from $52.5 million in the fiscal year ended June 30, 2008, to $40.4 million in the fiscal year ended June 30, 2009. The loss from operations decreased 96% from a loss of $16.9 million in the fiscal year ended June 30, 2008, to a loss of $0.7 million in the fiscal year ended June 30, 2009. Dr. Damadian continued, "The Company has done well controlling cos...
Click here to read the whole Article (external link)

FONAR CORP Files SEC form 8-K, Results of Operations and Financial Condition

Show all filings for FONAR CORP | Request a Trial to NEW EDGAR Online Pro Form 8-K for FONAR CORP 5-Oct-2009Results of Operations and Financial Condition Copyright © 2009 Yahoo! Inc. All rights reserved. Privacy Policy - Terms of Service - Copyright/IP Policy - Send Feedback SEC Filing data and information provided by EDGAR Online, Inc. (1-800-416-6651). All information provided "as is" for informational purposes only, not intende...
Click here to read the whole Article (external link)

Early Movers: Pump Up the Volume

Stock quotes in this article: EXTR , ALTH , BLDP , ...
Click here to read the whole Article (external link)

Beacon Equity Issues Technical Trading Overview for Fonar Corp.

DALLAS, Oct. 8, 2009 (GLOBE NEWSWIRE) -- BeaconEquity.com announces an investment report featuring financial company Fonar Corp. (Nasdaq:FONR - News). The report includes financial, comparative and investment analyses, and pertinent industry information you need to know to make an educated investment decision. The investment report on Fonar Corp. (Nasdaq:FONR - News) should be of particular interest to other medical appliances and equipment companies: Medtronic Inc. (NYSE:MDT - News), St. Jude Medical Inc. (NYSE:STJ - News) and Zimmer Holdings Inc. (NYSE:...
Click here to read the whole Article (external link)

FONAR Deemed Compliant With All NASDAQ Capital Market Listing Standards; FONAR Complies With NASDAQ Marketplace Rule 5250(b)(2)

MELVILLE, NY--(Marketwire - 10/09/09) - FONAR� Corporation (NASDAQ:FONR - News), The Inventor of MR Scanning(TM), today announced that the NASDAQ Stock Market has notified FONAR that it complies with all NASDAQ Capital Market continued listing standards. Specifically, the Company satisfies NASDAQ Listing Rule 5550(b)(3) which requires the Company to have a minimum $500,000 of net income from continuing operations in the latest fiscal year. In the Company's most recent Form 10-K, filed on October 5, 2009, net income from continuing operations was $1.1 million for the fiscal year ended June 30, 2009. (Visit www.fonar.com/news/100509.htm for details.)This announcement does not represent any change or amendment to the Company's fiscal year 2009 financial statements or to its Annual Report on Form 10-K filed on October 5, 2009; however, FONAR received an audit opinion that expresses doubt about the ability of the Company to continue as a 'going concern' for a reasonable period of time. In accordance with NASDAQ Listing Rule 5250(b)(2), the Company is hereby disclosing receipt of the 'going concern' opinion in a public announcement through the news media.For investor and other information visit: ...
Click here to read the whole Article (external link)

FONAR CORP Financials

PERIOD ENDING30-Jun-0931-Mar-0931-Dec-0830-Sep-08Total Revenue10,391  11,256  11,291  6,784  Cost of Revenue6,105  6,041  5,644  4,333  Gross Profit4,286  5,215  5,647  2,451  Operating ExpensesResearch Development912  872  929  880  Selling General and Administrative3,468  3,220  3,470  3,265  Non Recurring -   -   -   -  Others223  363  546  154  Total Operating Expenses -   -   -   -  Operating Income or Loss(318)760  702  (1,848)Income from Continuing OperationsTotal Other Income/Expenses Net555  43  119  1,488  Earnings Before Interest And Taxes237  803  821  (371)Interest Expense140  74  40  79  Income Before Tax97  729  781  (450)Income Tax Expense -   -   -   -  Minority Interest0   -   -  (11)Net Income From Continuing Ops50  729  781  (450)Non-recurring EventsDiscontinued Operations -   -   -   -  Extraordinary Items -   -   -   -  Effect Of Accounting Changes -   -   -   -  Other Items ...
Click here to read the whole Article (external link)

FONAR CORP Files SEC form 10-K/A, Annual Report

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION. INTRODUCTION. Fonar was formed in 1978 to engage in the business of designing, manufacturing and selling MRI scanners. In 1997, we formed a wholly-owned subsidiary, Health Management Corporation of America, also referred to as "HMCA", formerly known as U.S. Health Management Corporation, in order to expand into the physician and diagnostic management services business. Fonar's principal MRI products are its Stand-Up(R)/Upright(R) MRI and Fonar 360(TM) MRI scanners. The Stand-Up(R) MRI allows patients to be scanned for the first time under weight-bearing conditions. The Company has been aggressively seeking new sales. The Stand-Up(R) MRI is the only MRI capable of producing images in the weight bearing state. At 0.6 Tesla field strength, the Upright(R) MRI and Fonar 360(TM) magnets are among the highest field open MRI scanners in the industry, offering non-claustrophobic MRI together with high-field image quality. Fonar's open MRI scanners were the first high field strength MRI scanners in the industry. HMCA commenced operations in July, 1997 and generates revenues from providing comprehensive management services, including development, administration, accounting, billing and collection services, together with office space, medical equipment, supplies and non-medical personnel to its clients. Revenues are in the form of fees which are earned under contracts with HMCA's clients. Since July 2005, HMCA has engaged only in the management of MRI facilities. For the fiscal years ended June 30, 2009 and June 30, 2008, 28.4% and 30.8%, respectively, of HMCA's revenues were derived from contracts with facilities owned by Dr. Raymond V. Damadian, the President of Fonar and HMCA and principal stockholder of Fonar. The agreements with these MRI facilities are for one- year terms which renew aut...
Click here to read the whole Article (external link)

FONAR Continues Growth With Two New Sales of Its UPRIGHT Multi-Position MRI to U.S. Medical Practices

MELVILLE, NY--(Marketwire - 10/13/09) - FONAR Corporation (NASDAQ:FONR - News) announced today two recent sales of its UPRIGHT� Multi-Position(TM) MRI scanners. Both sales were to private medical practices that choose to remain anonymous for competitive reasons. Raymond Damadian, president and founder of FONAR said, "We are pleased to have two more medical practices purchase the UPRIGHT� MRI. These practices recognize that there is no other acceptable way to image the spine. It is also encouraging to note that they purchased the UPRIGHT� MRI despite widespread confusion in healthcare reimbursement because the medical practices realize that the best technology enables the best opportunities.Medical practices that have experience with the FONAR UPRIGHT� MRI are enthusiastic about its unique capabilities. For example, at the recently re-opened East Bay Upright MRI in Hayward, California, Neuroradiologist J. Randy Jinkins, MD, FACR, FEC, said, "The FONAR UPRIGHT� MRI has become the new standard of care because it is the only MRI able to put the patient in the position that generates symptoms. This will allow the referring doctors to be able to make far more comprehensive and accurate evaluations of their patients' conditions."The two new sales continue the positive trend that FONAR established during the past year, as reported on October 5th when the Company announced its financial results for the fiscal year ending June 30, 2009. Total net income was $1.1 million, as compared to a net loss of $1...
Click here to read the whole Article (external link)