Fonar's revenues dip in Q3

MRI vendor Fonar saw a slight dip in revenues in the third quarter of fiscal 2008 (end-March 31), the company reported.

Revenues for the Melville, NY, company decreased 8.1% to $8.1 million, compared with $8.8 million in the second quarter of fiscal 2007. However, total revenues for the nine months ending March 31 rose 13.1%, from $24.2 million in 2007 to $27.4 million.

Fonar reduced its net loss to $2.7 million for the quarter, compared with a net loss of $5.4 million in the same quarter of 2007. The net loss for the nine-month period ending March 31 decreased 60.3% to $6.7 million, compared with a net loss of $17 million for the same period in 2007.

Related Reading

Fonar advances revenues in Q2, February 19, 2008

Fonar sells second Upright MRI to CDI, January 15, 2008

Fonar sells first Upright scanner in Canada, December 20, 2007

Fonar launches scoliosis MRI application, November 27, 2007

Fonar sells three Upright scanners, November 20, 2007

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