Business
FONAR Announces Six Months and 2nd Quarter Financial Results for Fiscal 2022
Total MRI scan volume at the HMCA-managed sites increased 10 % to 94,460 scans for the six months ending December 31, 2021 versus the corresponding period
About this update from Fonar Corporation
[{"type":"text","content":"\n\n Total MRI scan volume at the HMCA-managed sites increased 10 % to 94,460 scans for the six months ending December 31, 2021 versus the corresponding period one year earlier.\n\n\nTotal Revenues-Net for the six month period ended December 31, 2021 increased by 14% to $48.2 million, and for the quarter ended December 31, 2021 increased by 16% to $24.5 million, versus corresponding periods one year earlier.\n\n\nNet Income for the six months ended December 31, 2021 increased 44% to $10.3 million, and for the quarter ended December 31, 2021 increased 31% to $5.1 million, versus corresponding periods one year earlier.\n\n\nDiluted Net Income per Common Share for the six month period ended December 31, 2021 increased 39% to $1.11, and for the quarter ended December 31, 2021 increased 30% to $0.57, versus the corresponding periods one year earlier.\n\n\nIncome from Operations for the six month period ended December 31, 2021 increased 34% to $12.2 million, and for the quarter ended December 31, 2021 increased 30% to $6.5 million, versus the corresponding periods one year earlier.\n\n\nCash and cash equivalents and short-term investments increased 1% to $44.9 million at December 31, 2021, versus the fiscal year ended June 30, 2021.\n\n\nBook Value Per Share increased by 7% to $21.32 per share at December 31, 2021, versus the corresponding period one year earlier.\n\n\nMelville, New York--(Newsfile Corp. - February 14, 2022) - FONAR Corporation (NASDAQ: FONR), The Inventor of MR Scanning™, reported today its financial results for the fiscal 2022 six month period and quarter ended December 31, 2021. 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.\nFinancial Results\nTotal Revenues-Net for the six months ended December 31, 2021 increased 14% to $48.2 million, as compared to $42.1 million for the corresponding six month period ended December 31, 2020.\nTotal Revenues-Net for the quarter ended December 31, 2021 increased 16% to $24.5 million as compared to $21.2 million for the quarter ended December 31, 2020.\nIncome from Operations for the six months ended December 31, 2021 increased 34% to $12.2 million as compared to $9.1 million for the corresponding s...