Fonar loss grows on slight revenue increase

MRI developer Fonar reported fiscal second-quarter (end-December 31) revenues of $9.8 million, down slightly compared with $9.6 million in sales in the second quarter of 2001. The company’s net loss grew sharply in the period, however, to $4.7 million. Fonar posted a net loss of $3 million in the same period the year before.

The company’s Stand-Up MRI system generated $3.9 million in sales in the first six months of fiscal 2002, Fonar said. There are currently four Stand-Up MRI units installed.

By AuntMinnie.com staff writers
February 18, 2002

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