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FONAR Announces 3rd Quarter and Nine-Month Period Financial Results for Fiscal 2022
Total MRI scan volume at the HMCA-managed sites increased 8% to 140,650 scans for the nine-month period ended March 31, 2022 versus the corresponding period
About this update from Fonar Corporation
[{"type":"text","content":"\n\nTotal MRI scan volume at the HMCA-managed sites increased 8% to 140,650 scans for the nine-month period ended March 31, 2022 versus the corresponding period one year earlier\n\n\nIncome From Operations increased 37% to $5.6 million for the quarter ended March 31, 2022 as compared to the corresponding quarter one year ago. Income From Operations increased 35% to $17.9 million for the nine-month period ended March 31, 2022 as compared to the corresponding nine-month period one year ago.\n\n\nNet Income was $3.3 million for the quarter ended March 31, 2022 and $13.6 million for the nine-month period ended March 31, 2022.\n\n\nDiluted Net Income per Common Share Available to Common Stockholders was $0.32 for the quarter ended March 31, 2022 and $1.43 for the nine-month period ended March 31, 2022.\n\n\nTotal Revenues-Net increased 6% to $24.6 million for the quarter ended March 31, 2022 as compared to the corresponding quarter one year ago. Total Revenues-Net increased 12% to $72.8 million for the nine-month period ended March 31, 2022, as compared to the corresponding nine-month period one year ago.\n\n\nCash and Cash Equivalents were $46.0 million at March 31, 2022 as compared to $44.5 million at June 30, 2021.\n\n\nNet Book Value per Common Share increased 6% to $21.59 at March 31, 2022 as compared to $20.37 at March 31, 2021, one year ago.\n\n\nMelville, New York--(Newsfile Corp. - May 16, 2022) - FONAR Corporation (NASDAQ: FONR), The Inventor of MR Scanning™, reported today its financial results for the 3rd fiscal 2022 quarter and nine-month period ended March 31, 2022. FONAR's primary source of income and growth is attributable to its diagnostic imaging management subsidiary, Health Management Company of America (HMCA). In 2009, HMCA managed 9 MRI scanners. Currently, HMCA manages 40 MRI scanners.\nOperating Results\nTotal Revenues-Net for the third fiscal quarter ended March 31, 2022 increased 6% to $24.6 million as compared to $23.1 million for the third fiscal quarter ended March 31, 2021. Total Revenues-Net for the nine-month period ended March 31, 2022 increased 12% to $72.8 million as compared to $65.2 million for the nine-month period ended March 31, 2021.\nIncome from Operations for the third fiscal quarter ended March 31, 2022 increased 37% to $5.6 million as compared to $4.1 million for the third fiscal quarter e...