Fonar Q2 net income rises

Fonar Corporation +0.05%

Fonar Corporation

FONR

18.77

+0.05%


Overview

  • MRI company's fiscal Q2 revenue rose 2% yr/yr

  • Net income for fiscal Q2 increased 15% yr/yr


Outlook

  • Company did not provide specific financial guidance for future periods in its press release


Result Drivers

  • REVENUE GROWTH - Co reported a 2% increase in total revenues driven by growth in service and repair fees and management fees

  • HIGH-FIELD MRI ADDITION - Installation of high-field MRI at Lynbrook site led to a 30% increase in scan volume, reducing patient backlogs

  • EXPENSE REDUCTION - SG&A expenses decreased 10% for the quarter, aiding in improved operating income


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q2 Revenue

$25.50 mln

Q2 EPS

$0.31

Q2 Net Income

$2.50 mln

Q2 Operating Income

$3 mln

Press Release: ID:nNFCtY75J

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