Fonar Corporation Reports 6% Increase in Net Revenues and 25% Rise in Net Income for Q3 Fiscal 2025; EPS Up 37%

Reuters
May 19
Fonar Corporation Reports 6% Increase in Net Revenues and 25% Rise in Net Income for Q3 Fiscal 2025; EPS Up 37%

Fonar Corporation has reported its financial results for the third quarter and nine-month period ending March 31, 2025. The company experienced a 6% increase in Total Revenues-Net, reaching $27.2 million for the quarter compared to the same period in 2024. Net Income for the quarter rose by 24% to $3.1 million, up from $2.5 million in the previous year. Diluted Net Income Per Common Share Available to Common Stockholders saw a significant rise of 37%, increasing to $0.37 per share from $0.27 per share in the previous year. Despite the positive quarterly results, Income from Operations for the quarter decreased by 2% to $3.66 million compared to $3.75 million in the prior year. For the nine-month period, Net Income declined by 25% to $9.3 million from $12.5 million, and Income from Operations fell by 30% to $10.7 million compared to $15.2 million in the same period of the previous year. Additionally, Total Cash, Cash Equivalents, and Short-Term Investments decreased by 4%, amounting to $54.4 million as of March 31, 2025, down from $56.5 million at the end of June 2024. The Net Book Value per Common Share increased by 5% to $25.98 at the end of the quarter. Fonar's main source of income and growth continues to be its diagnostic imaging management subsidiary, Health Management Company of America $(HMCA.UK)$, which has expanded its management from 9 MRI scanners in 2009 to 44 MRI scanners currently.

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