Fonar's Q2 results hold steady

Overall revenue and profit remained stable for MRI firm Fonar in the second quarter of its 2013 fiscal year (end-December 31, 2012).

Total revenue for the second fiscal quarter advanced 3% to $9.6 million, compared with $9.3 million in the second quarter of fiscal 2012. Net income for the quarter dipped to $1.6 million, compared with net income of $1.8 million in the same quarter a year ago.

Total revenue for the six-month period increased 1% to $19.1 million, compared with $18.9 million in the same period of fiscal 2012. Net income for the six-month period declined to $3.4 million, compared with $3.6 million the same period last year.

Fonar achieved the greatest percentage gain in revenue from its "management and other fees" segment. Revenue for the second fiscal quarter increased 17% to $5.7 million, compared with $4.9 million in the second quarter of fiscal 2012. For the six-month period, revenue increased 17% to $11.5 million, compared with $9.8 million in the same period the previous year.

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