By AuntMinnie.com staff writers

February 13, 2018 -- MRI vendor Fonar announced an increase in revenue and income for its second quarter and first six months of fiscal 2018 (end-December 31).

The firm saw a 10% increase in total net revenue, reaching $20.2 million, compared with $18.4 million in the same quarter of the prior year. Fonar also had net income of $5.2 million, a 6% increase from $4.9 million in the same quarter a year ago.

For the six months, total net revenue increased 6% to $39.5 million, compared with $37.1 million in the same six months a year ago. Net income increased 4% to $9.8 million, compared with $9.4 million for same period a year ago.

"We are very pleased with the company's second-quarter results. In fact, our income from operations was close to the highest that we have ever achieved," said President and CEO Timothy Damadian in a statement.


Copyright © 2018 AuntMinnie.com
 

To read this and get access to all of the exclusive content on AuntMinnie.com create a free account or sign-in now.

Member Sign In:
MemberID or Email Address:  
Do you have a AuntMinnie.com password?
No, I want a free membership.
Yes, I have a password:  
Forgot your password?
Sign in using your social networking account:
Sign in using your social networking
account: