Fonar Q2 net income rises

0.00% Pre

Fonar Corporation

FONR

18.53

0.00%

0.00% Pre

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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