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Posted by raybond on :
 
these are some reasons why fonar is a good value play.

from another post


- P/E of 8 with potential to be traded at a P/E of 17.
- Booked value $4 per share increasing by $2.5 per share year on year.
- Cash $1.6 per share.
- Equity included minority interests $45M - solvency of 60%.
- Loss carry forwards of more than $140M - no income taxes the next 15 years.
- A product with significant advantages to the market, because of Fonar's patents.
- New market potential from FONAR UPRIGHT® Multi-Position™ MRI, scanning diseases such as multiple sclerosis etc.
- Growth is expected in 2014/2015 according to managements plans to acquire additional centers in New York and Florida.
- Fonar records eighteen straight quarter of positive net income and income from operations.
- Fonar traded at $27.95 within the last 12 month.
- My expectations: We are heading back above $28 within the next 12 month. A rise of more than 120% from todays level. Less

. .
 
Posted by raybond on :
 
Business Summary




Fonar Corporation engages in the design, manufacture, sale, and servicing of magnetic resonance imaging (MRI) scanners for the detection and diagnosis of human diseases, abnormalities, and other medical conditions and injuries. The company operates through two segments, Manufacturing and Servicing of Medical Equipment; and Management of Diagnostic Imaging Centers. It provides Upright Multi-Position MRI scanner, which allows patients to be scanned in fully weight-bearing conditions, such as standing, sitting, or bending in any position that causes adverse symptoms. Fonar Corporation markets its scanners to private diagnostic imaging centers and hospitals. The company also offers management services to diagnostic imaging facilities, which include development, administration, and leasing of office space, facilities, and medical equipment; and is involved in the provision of supplies; staffing, training, and supervision of non-medical personnel; legal services; accounting, billing, and collection; and the development and implementation of practice growth and marketing strategies. As of June 30, 2014, it managed 11 diagnostic imaging facilities located in the states of New York and Florida. Fonar Corporation was founded in 1978 and is based in Melville, New York
 
Posted by raybond on :
 
more history


About FONAR

FONAR (NASDAQ: FONR), Melville, NY, The Inventor of MR Scanning™, was incorporated in 1978, and is the first, oldest and most experienced MRI company in the industry. FONAR introduced the world's first commercial MRI in 1980, and went public in 1981. Since its inception, nearly 300 FONAR recumbent-OPEN MRIs and 157 UPRIGHT® Multi-Position™ MRI scanners have been installed worldwide. FONAR's stellar product is the UPRIGHT® MRI (also known as the Stand-Up® MRI), the only whole-body MRI that performs Position™ imaging (pMRI™) and the only MRI scanner that is able to scan patients in the exact weight-loaded position that is generating their pain. It scans patients in numerous weight-bearing positions, i.e. standing, sitting, in flexion and extension, as well as the conventional lie-down position. The FONAR UPRIGHT® MRI often sees the patient's problem that other scanners cannot because they are lie-down and "weightless" only scanners. The patient-friendly UPRIGHT® MRI has a near-zero claustrophobic rejection rate by patients. As a FONAR customer states, "If the patient is claustrophobic in this scanner, then they'll be claustrophobic in my parking lot." Approximately 85% of patients are scanned sitting while they watch a 42" flat screen TV. FONAR is headquartered on Long Island, New York.

UPRIGHT® and STAND-UP® are registered trademarks and The Inventor of MR Scanning™, Full Range of Motion™, Multi-Position™, Upright Radiology™, The Proof is in the Picture™, True Flow™, pMRI™, Spondylography™, Landscape™, CSP™, Dynamic™ and Spondylometry™ are trademarks of FONAR® Corporation.

This release may include forward-looking statements from the company that may or may not materialize. Additional information on factors that could potentially affect the company's financial results may be found in the company's filings with the Securities and Exchange Commission.


Contact:


Daniel Culver
Director of Communications
E-mail: Email Contact
 
Posted by raybond on :
 
MELVILLE, NY--(Marketwired - Sep 15, 2014) - Fonar Corporation (NASDAQ: FONR)
•39% Increase of Fiscal 2014 Net Revenues to $68.5 million versus prior year
•31% Increase of Fiscal 2014 Net Income to $13.4 million versus prior year
•18% Increase of Fiscal 2014 Diluted Net Income per Common Share available to Common Shareholders to $1.58 versus prior year
•63 % Increase of Fiscal 2014 Income from Operations to $12.3 million versus prior year

Fonar Corporation (NASDAQ: FONR), The Inventor of MR Scanning™, today announced its 2014 fiscal year-end results. The Company's two industry segments are: development, manufacturing and servicing of the UPRIGHT® Multi-Position™ MRI and management of Stand-Up® MRI (UPRIGHT® MRI) centers. The FONAR UPRIGHT® Multi-Position™ MRI scanner is the world's only MRI scanner licensed under FONAR's multiple UPRIGHT® MRI patents to scan all the patient's body parts in their normal full weight-bearing UPRIGHT® position.

Financial Highlights
Revenues increased 39% to $68.5 million for the fiscal year ended June 30, 2014 as compared to $49.1 million for fiscal year ended June 30, 2013.

Revenues from the management of the diagnostic imaging center segment, consisting of patient and management fee revenue, increased 65% to $56.4 million for the year ended June 30, 2014, as compared to $34.3 million over the comparable period one year earlier.

Net income increased 31% to $13.4 million for the fiscal year ended June 30, 2014 as compared to $10.3 million for the earlier corresponding fiscal year.

Income from operations increased 63% to $12.3 million for the fiscal year ended June 30, 2014 from $7.5 million for the fiscal year ended June 30, 2013.

Diluted net income available to common shares for the fiscal year ending June 30, 2014 was $1.58, which includes a partial reversal of the deferred tax valuation allowance of $2.7 million, or $0.45.

Total cash and cash equivalents increased 26% to $10.0 million at June 30, 2014, from $7.9 million at June 30, 2013.

Management Discussion
Raymond V. Damadian, M.D., president and chairman of Fonar Corporation, said, "the Company has grown and prospered significantly over the past year as evidenced by our outstanding financial results. This is in spite of some cuts in MRI reimbursements brought about by the Affordable Care Act. This is in large part due to the extraordinary abilities of the FONAR UPRIGHT® Multi-Position™ MRI, as well as our fine management staff."

"A year and half have passed since the acquisition of the business of Health Diagnostics Management (HDM) and we can look back and see how advantageous acquiring these centers was," continued Dr. Damadian. "By combining the resources of our wholly owned subsidiary, Health Management Corporation of America (HMCA), and HDM, we have seen the benefits of economies of scale, shared technical and administrative expertise and capabilities, and joint marketing strategies. In the future, we expect to facilitate growth of imaging centers through acquisitions, supporting new UPRIGHT® imaging centers, and increasing scan volume at our existing locations by continuing to educate the medical community about the unique diagnostic advantages of UPRIGHT® Multi-Position™ fully weight-loaded MRI. The new HMCA has 23 FONAR weight-bearing MRI scanners and is the largest of its kind in the world."

"Our successful business model is made possible by the success of our current MRI scanner, the UPRIGHT® Multi Position™ (Stand-Up®) MRI," continued Dr. Damadian. "This scanner is extremely popular with patients who experience claustrophobia or can't lie down for long periods. The FONAR UPRIGHT® MRI provides unduplicated benefits in assessing the position dependence of patient symptoms. The UPRIGHT® MRI's ability to make MRI motion pictures (cinés) of the cerebrospinal fluid (CSF) as it flows into and out of the upright brain and spine enables visualization of obstructions of CSF flow not found in other MRIs and leading to new understandings of the genesis of diseases such as multiple sclerosis (MS).

Significant Event
On July 17, 2014, the HDM scanning center in Naples, Florida, won the 'People's Choice Award' after being selected by readers of the Naples Daily News. Stand-Up MRI of SW Florida was selected for the category of 'Best Imaging Center'. Naples, Florida is among America's most affluent communities.
 
Posted by raybond on :
 
.

fonar closed up today .49
.


Fonar Corp. (FONR) -NasdaqCM  Watchlist


11.01 Up 0.49(4.66%) 4:00PM EDT
 
Posted by raybond on :
 
I have been in and out of fonar since it was about 1.47 a share.

it is a very solid company and makes moneyI am reinvested at $10 and I am sure I will double my money over the long haul IMO only.

This not the usual pump and dump that is so prevalent on these boards. Most of fonars battles for survival have ben fought and now they can concentrate on making money.
 
Posted by raybond on :
 
up .14 cents today
 
Posted by raybond on :
 
fonar up .09 cents out of the gate at low volume this morning.
I am going away for a couple of days to relax might check in on my lap top. If not see all of you later.
 
Posted by raybond on :
 
MELVILLE, NY--(Marketwired - Oct 7, 2014) - Fonar Corporation (NASDAQ: FONR), The Inventor of MR Scanning™, today announced it has sold its UPRIGHT® Multi-Position™ MRI to a customer in Dubai, United Arab Emirates (UAE). This will be the first sale to a customer in the United Arab Emirates. The FONAR UPRIGHT® Multi-Position™ MRI (aka Stand-Up® MRI) scanner is the world's only MRI scanner licensed under FONAR's multiple UPRIGHT® MRI patents to scan all the patient's body parts in their normal multiple, fully weight-bearing UPRIGHT® positions
 
Posted by raybond on :
 
Research Team (Sep 22), The Street (Sep 18), Market Edge (Sep 23) and Jaywalk Consensus (Aug 31) all upgraded Fonar to a buy.
 
Posted by raybond on :
 
First Sale to Alaska of FONAR Upright Multi-Position MRI Announced

.

Marketwired
Fonar Corporation
9 hours ago

MELVILLE, NY--(Marketwired - Oct 22, 2014) - Fonar Corporation (NASDAQ: FONR), The Inventor of MR Scanning™, today announced a sale of its UPRIGHT® Multi-Position™ MRI to a customer in Wasilla, Alaska. The customer is John McCormick, M.D., a Harvard trained radiologist who has purchased the scanner for his practice. The FONAR UPRIGHT® Multi-Position™ MRI (aka Stand-Up® MRI) scanner is the world's only MRI scanner licensed under FONAR's multiple UPRIGHT® MRI patents to scan all the patient's body parts in their normal multiple, fully weight-bearing UPRIGHT® positions.
Dr. McCormick said, "I am purchasing the FONAR because of its unique ability to scan patients upright and in the weight-bearing position. We have a recumbent high-field MRI but there are too many patients who exhibit their pain and symptoms only when upright, so we aren't able to find their problem. In fact, sometimes the supine MRI gives misleading information. Scanning patients upright will have its greatest need in cervical and lumbar spine studies."

Dr. McCormick continued, "We can see how the UPRIGHT® Multi-Position™ MRI will be of great help for range-of-motion studies and the ability to scan in flexion and extension. Many of our referring physicians are podiatrists who currently use upright x-ray. So, they will soon have the ability to obtain those upright scans showing the soft tissue of the feet."

Dr. McCormick said that Alaska is a certificate of need (CON) state but if possible he would purchase a second FONAR soon. This will be the first installation of an UPRIGHT® MRI in the state of Alaska. It is the 30th state where FONAR has sold an UPRIGHT® Multi-Position MRI.

Raymond V. Damadian, M.D., president and founder of Fonar Corporation said, "We are pleased that Dr. McCormick has purchased our UPRIGHT® MRI and we are anxious to help the citizens of Alaska with this important technology. There is a pandemic in our nation of people suffering from neck pain, including 1.2 million whiplash injuries each year in the U.S. We call the condition the Cranio-Cervical Syndrome, and it concerns the vulnerability of the human neck and its impact on cerebrospinal fluid (CSF) flow throughout the brain and spine. I am pleased that many people are helped by the UPRIGHT® MRI such as Jim McMahon, the former NFL quarterback."

Newsday, the leading Long Island Newspaper, ran a story in sporting section of its Sunday edition on October 12, 2014. The story was titled 'Jim's McMiracle -- Headaches and memory loss destroyed his quality of life until two LIers came to the rescue.'

See http://www.newsday.com/sports/football/li-doctors-help-jim-mcmahon-get-his-life- back-and-they-can-help-others-too-1.9493358

Former NFL Quarterback Jim McMahon had suffered from post-concussion dementia and was scanned on the UPRIGHT® MRI at the Company's Melville facility in November, 2012. In addition to spine and brain scans, a FONAR UPRIGHT® CSF flow (cińe) video was performed which demonstrated a significant obstruction of CSF flow and increased intracranial pressure secondary to prior football injuries to Jim's cervical spine.

Subsequently, he was treated by Dr. Scott Rosa, of the Trauma Imaging Foundation, www.traumaimagingfoundation.com . Dr. Rosa treated Jim with his patented IGAT (Image Guided Atlas Treatment) method. Jim gives much credit to Dr. Raymond Damadian, M.D., president and founder of FONAR, the FONAR UPRIGHT® Multi-Position™ MRI and Dr. Scott Rosa, for the wonderful elimination of his headache pain and memory impairments. See http://www.fonar.com/news/052114.htm.

Dr. Damadian commented, "We thank Jim McMahon for his comments but most important is pointing out that it was unrecognized problems in Jim's neck that were uncovered by FONAR's UPRIGHT® Multi-Position MRI images that made the difference. Jim's UPRIGHT® MRI images enabled Dr. Rosa to successfully treat Jim's neck and overcome his symptomology."

About FONAR
FONAR (NASDAQ: FONR), Melville, NY, The Inventor of MR Scanning™, was incorporated in 1978, and is the first, oldest and most experienced MRI company in the industry. FONAR introduced the world's first commercial MRI in 1980, and went public in 1981. Since its inception, nearly 300 FONAR recumbent-OPEN MRIs and 157 UPRIGHT® Multi-Position™ MRI scanners have been installed worldwide. FONAR's stellar product is the UPRIGHT® MRI (also known as the Stand-Up® MRI), the only whole-body MRI that performs Position™ imaging (pMRI™) and the only MRI scanner that is able to scan patients in the exact weight-loaded position that is generating their pain. It scans patients in numerous weight-bearing positions, i.e. standing, sitting, in flexion and extension, as well as the conventional lie-down position. The FONAR UPRIGHT® MRI often sees the patient's problem that other scanners cannot because they are lie-down and "weightless" only scanners. The patient-friendly UPRIGHT® MRI has a near-zero claustrophobic rejection rate by patients. As a FONAR customer states, "If the patient is claustrophobic in this scanner, then they'll be claustrophobic in my parking lot." Approximately 85% of patients are scanned sitting while they watch a 42" flat screen TV. FONAR is headquartered on Long Island, New York.

UPRIGHT® and STAND-UP® are registered trademarks and The Inventor of MR Scanning™, Full Range of Motion™, Multi-Position™, Upright Radiology™, The Proof is in the Picture™, True Flow™, pMRI™, Spondylography™, Landscape™, CSP™, Dynamic™ and Spondylometry™ are trademarks of FONAR® Corporation.

This release may include forward-looking statements from the company that may or may not materialize. Additional information on factors that could potentially affect the company's financial results may be found in the company's filings with the Securities and Exchange Commission.

Contact:


Daniel Culver
Director of Communications
E-mail: Email Contact
www.fonar.com
 
Posted by raybond on :
 
I really think that fonar is on the brink of some big that we can all make a lot of money off of.
 
Posted by raybond on :
 
fonar up .40 cents today
 
Posted by raybond on :
 
fonar is now trading at 12.05. I am waiting for a pull back to buy more.
 
Posted by raybond on :
 
looks like we are retreating today if fonar goes low enough it will be a good buying opportunity lets see where it consolidates at.
 
Posted by raybond on :
 
back up fonar trading at 12.68 up on news.


FONAR Sells Fifth Upright Multi-Position MRI to Germany
MELVILLE, NY--(Marketwired - Oct 28, 2014) - Fonar Corporation (NASDAQ: FONR), The Inventor of MR Scanning™, today announced a sale of its UPRIGHT® MRI to a long-time FONAR customer, Medserena, of Germany. The FONAR UPRIGHT® Multi-Position™ MRI (aka Stand-Up® MRI) scanner is the world's only MRI scanner licensed under FONAR's multiple UPRIGHT® MRI patents to scan all the patient's body parts in their normal multiple, full weight-bearing UPRIGHT® positions. This will be the fifth sale of a FONAR UPRIGHT MRI in Germany.


The UPRIGHT® MRI will be placed in the city of Frankfurt. This will join the cities of Cologne, Hanover, Munich, and Hamburg that currently have the FONAR UPRIGHT® Multi-Position™ MRI. Medserena CEO Matthias Schulz has said, "A large number of requests for the FONAR UPRIGHT® Multi-Position™ MRI are coming from physicians in Germany because of the special medical need for FONAR's unique technology. This is in spite of an intensely active MRI market in Germany, where there are already many conventional lie-down MRIs installed."

Raymond V. Damadian, M.D., president and founder of Fonar Corporation, said, "I am pleased to announce this fifth sale of the UPRIGHT® Multi-Position™ MRI to our German customer. It is good to see that there is still robust interest for our scanner in the MRI marketplace."

Dr. Damadian continued, "We have now had a third press release during the month of October featuring sales of our UPRIGHT® Multi-Position™ MRI. Sales of the scanner are a good complement to our subsidiary, Health Management Corporation of America (HMCA), which manages diagnostic imaging centers which have the FONAR UPRIGHT® (Stand-Up®) MRI.

"The FONAR UPRIGHT® weight-bearing MRI technology and its critical role in optimizing outcomes from spine surgery, provides unduplicated benefits in assessing the position dependence of patient symptoms. The UPRIGHT® MRI's ability to make MRI motion pictures (cinés) of the cerebrospinal fluid (CSF) as it flows into and out of the upright brain and spine enables visualization of obstructions of CSF flow not found in other MRIs and leading to new understandings of the genesis of diseases such as multiple sclerosis (MS)," said Dr. Damadian.

"The FONAR UPRIGHT® MRI is the only scanner which can properly identify a disease we call the Cranio-Cervical Syndrome," continued Dr. Damadian. "The primary symptomology of the the Cranio-Cervical Syndrome is pressure headaches but there are many variations." For further details visit http://www.fonar.com/news/032813.htm.

"In addition," said Dr. Damadian, "the FONAR UPRIGHT® MRI is essential in understanding the impact of whiplash due to a motor vehicle accident." For a peer reviewed paper titled 'A case-control study of cerebellar tonsillar ectopia (Chiari) and head/neck trauma (whiplash)' visit: http://traumaimagingfoundation.com/research.

About FONAR
FONAR (NASDAQ: FONR), Melville, NY, The Inventor of MR Scanning™, was incorporated in 1978, and is the first, oldest and most experienced MRI company in the industry. FONAR introduced the world's first commercial MRI in 1980, and went public in 1981. Since its inception, nearly 300 FONAR recumbent-OPEN MRIs and 157 UPRIGHT® Multi-Position™ MRI scanners have been installed worldwide. FONAR's stellar product is the UPRIGHT® MRI (also known as the Stand-Up® MRI), the only whole-body MRI that performs Position™ imaging (pMRI™) and the only MRI scanner that is able to scan patients in the exact weight-loaded position that is generating their pain. It scans patients in numerous weight-bearing positions, i.e. standing, sitting, in flexion and extension, as well as the conventional lie-down position. The FONAR UPRIGHT® MRI often sees the patient's problem that other scanners cannot because they are lie-down and "weightless" only scanners. The patient-friendly UPRIGHT® MRI has a near-zero claustrophobic rejection rate by patients. As a FONAR customer states, "If the patient is claustrophobic in this scanner, then they'll be claustrophobic in my parking lot." Approximately 85% of patients are scanned sitting while they watch a 42" flat screen TV. FONAR is headquartered on Long Island, New York
 
Posted by raybond on :
 
larsstorkehave • 7 hours ago


Growth in fiscal 2015
.

Great news this month. Fonar sell 3rd Upright multi-position MRI within 3 weeks. Sales to United Arab Emirates, Alaska and now Gemany. What a great month! From articlses I read the sales price of an Upright multi-position MRI unit exceed $1.5M. In fiscal year 2014 product sales net was $1.9M.
 
Posted by raybond on :
 
closed today up 1.12 closed at 12.75 in todays trading I might not get my buying opportunity at the price I want.
 
Posted by raybond on :
 
fonar closed at 12.62 today it seems to be holding its own even on low volume
 
Posted by raybond on :
 
larsstorkehave •


FONR Q1 earnings report - my estimate
.

Next week FONR is expected to release Q1 2015 earnings report. I expect EPS of $0.35-0.40. If you compare my estimate Q1 2015 EPS to Q4 2014 EPS without the tax reversal, the Q4 2014 EPS was $0.19. Q1 2015 EPS (without tax reversal) is going to increase by 80-100% compared to Q4 2014.
I expect Q1 2015 revenue of $16.8-17.0M and income from operations of $3.1 - 3.5M. Net income controlling interests of $2.3 - 2.6M.
I expect gross profit in Q1 2015 of 44.0% compared to 45.1% in Q4 2014. I don't expect other expenses in Q1 2015. In Q4 2014 other expenses were $0.5M. I expect provisions for bad debts to be reduced from $1.0M in Q4 2014 to $0.2M in Q1 2015.
My estimate on fiscal year 2015 is EPS (without tax reversal) of $1.55-1.65. Revenue of $72-73M a growth of 6.0-6.5% due to product sales increase of $4-6M. Income before provision for income taxes of $13.5-14.5M. Cash of $14-16M in June 2015. Less
 
Posted by raybond on :
 
closed at 12.75 today
 
Posted by raybond on :
 
in 2012 and 2013 Q1 earnings were released November 14
 
Posted by raybond on :
 
.

Financial Highlights
The Company's total revenues increased 7% to $18.0 million for the quarter ended September 30, 2014 as compared to $16.8 million during the same period a year earlier.

The acquisition of Health Diagnostics in March 2013 added 14 MRI Centers under management to the original 11 MRI centers. One year ago, the Company reported a 149% increase for this management of diagnostic imaging center segment to $14.3 million for the quarter ended September 30, 2013 as compared to $5.7 million for the quarter ended September 30, 2012. Now, one year later, revenues in this segment are approximately $14.2 million for the quarter ended September 30, 2014.

Basic net income available to common stockholders for the quarter ended September 30, 2014 increased 3% to $0.39 as compared to $0.38 during the same quarter ended one year earlier. Diluted net income available to common stockholders for the quarter ended September 30, 2014 increased 3% to $0.38 as compared to $0.37 during the same quarter ended one year earlier. Net Income for the quarter ended September 30, 2014 was $3.3 million as compared to $3.6 million for the same quarter one year earlier.

Total assets at September 30, 2014 were $78.8 million, as compared to $76.8 million at June 30, 2014. Total current assets at September 30, 2014 were $45.6 million, as compared to $42.8 million at June 30, 2014.

Total liabilities at September 30, 2014 were $30.7 million, as compared to $30.9 million at June 30, 2014. Total current liabilities at September 30, 2014 were $22.0 million, as compared to $21.2 million at June 30, 2014.

Stockholder's equity at September 30, 2014 was $48.1 million, as compared to $45.9 million at June 30, 2014.

Cash and cash equivalents increased 7% to $10.7 million at September 30, 2014, from $10.0 million at June 30, 2014.

Management Discussion
Raymond V. Damadian, president and chairman of Fonar Corporation said, "Over the past year and a half we have accomplished much. We acquired a business which allowed us to roughly double our size and successfully merged the companies allowing us to share capabilities and administrative and technical expertise. This gave us a synergy of joint marketing strategies, and many other economies of scale."

"Overall," said Dr. Damadian, "we have mitigated the increased pressure due to cuts in MRI reimbursements brought about by the Affordable Care Act. This was because of the adherence to our ongoing business plan which has made the difference."

"Perhaps, we can give some credit to the uniqueness and practicality of our UPRIGHT® full weight-loaded MRI scanner, which is immensely popular with both physician and patient. As Fonar's customer, Medserena, pointed out on their purchase of their fifth scanner for Germany, 'a large number of requests for the FONAR UPRIGHT® Multi-Position™ MRI are coming from physicians in Germany because of the special medical need for FONAR's unique technology. This is in spite of an intensely active MRI market in Germany where there are already many conventional lie-down MRIs installed.' Our German customer's comments on the benefits of the FONAR UPRIGHT® MRI technology are consistent with the success of our FONAR UPRIGHT® MRI scanners in the American MRI marketplace," said Dr. Damadian. "The treating physician in Germany quickly experiences the same result the treating physician in America experiences: A "BETTER PATIENT OUTCOME" for his patient."

The more accurate diagnosis available from the fully weight-loaded Multi-Position™ MRI provided by the FONAR UPRIGHT® as compared to the conventional weightless recumbent-only MRI examination enables a more complete and accurate diagnosis of the spine, which constitutes up to 60% of all MRI examinations, thereby optimizing the specific surgical or medical treatment selected for the patient. Since the PATIENT OUTCOME is the doctor's number one PRIORITY for his patient," said Dr. Damadian, "he quickly learns from firsthand experience that the FONAR UPRIGHT® MRI and its power to "SEE IT ALL" becomes indispensable towards his ultimate objective of optimizing the TREATMENT OUTCOMES OF HIS PATIENTS."

Dr. Damadian concluded: "During this quarter our MRI scanner product revenues increased and recently we reported sales to the UAE, Alaska, and Germany. Accordingly, I am optimistic about future sales of our UPRIGHT® Multi-Position™ MRI scanner."
 
Posted by raybond on :
 
I will be back later today with any changes and a comparison. This will be a different ball game from now on.
 
Posted by raybond on :
 
Prior to Q1 2015 FONR's revenue was flat and EPS had a downward trend.
This trend is history. Revenue and EPS are back on track.
The last 5 quarters FONR's revenue and EPS have been:
Q1 2014: $16.8M - $0.37
Q2 2014: $17.6M - $0.33
Q3 2014: $17.0M - $0.26
Q4 2014: $17.0M - $0.19 (add tax reversal of $0.43 and you get EPS of $0.62)
Q1 2015: $18.0M - $0.38
 
Posted by raybond on :
 
finally a dip maybe I can pick up some more this week, here is a good reason,


How many Nasdaq stocks trading in the $11's just posted quarterly earnings of .38/share? Not to mention a solid balance sheet with nearly $2/share in cash. If anyone knows of other cheap stocks like FONR that are putting up big earnings that have yet to be appreciated by the market...please post them!
 
Posted by raybond on :
 
More profit rolls in for FONR. I was hoping for $17 million in revenue and $2 million in net income. FONR just posted $18 million in revenue and $2.4 million in net income.
This company is growing and doing it profitably AND improving margins. Balance sheet is looking better and EPS is very strong. I think we will see over $15 per share
 
Posted by raybond on :
 
fonar is getting close to my buying number I hope it hits 10 soon I will add at that range. I will not be chasing it by the end of the year.
 
Posted by raybond on :
 
I will start adding at ten almost there now. I have my first buy order in and waiting.
 
Posted by raybond on :
 
Looks like another opportunity is heading our way time , to pick up a few shares in single digits.
 
Posted by raybond on :
 
Bingo I just bought more fonar at under 10 not much mind you, Fonar 2 days later is now trading just over 11. I know that there will be news pretty soon, But don't believe me do your own DD.
 
Posted by raybond on :
 
we will see in a couple of weeks how fonar is doing.

my guess is , $18 million in revenue and $2.8 million in net income for FONR for Q2 quarter.

If this is true or close to being true. it will be fonar's best quarter ever,
 
Posted by raybond on :
 
Fonar Corporation earning release 9th February
 
Posted by raybond on :
 
Financial Highlights

Revenues increased 2% to $35.1 million for the six month period ended December 31, 2014, from $34.4 million for the corresponding six month period one year earlier. Revenues for the second fiscal 2015 quarter ended December 31, 2014 were $17.1 million versus $17.6 million for the corresponding quarter one year earlier.

Net Income was $6.7 million for the six month period ended December 31, 2014 and the corresponding six month period one year earlier.

Net Income increased 13% to $3.5 million for the second fiscal 2015 quarter ended December 31, 2014 versus $3.0 million for the corresponding quarter one year earlier.

Income from Operations was $7.0 million for the six month period ended December 31, 2014, versus $7.3 million for the corresponding six month period one year earlier.

Income from Operations for the second fiscal 2015 quarter ended December 31, 2014 increased 9% to $3.6 million, from $3.3 million for the corresponding quarter one year earlier.

Diluted net income per common share available to common shareholders for the six month period ended December 31, 2014 was $0.79 versus $0.70 for the corresponding six month period one year earlier, an increase of 13%.

Diluted net income per common share available to common shareholders for the second fiscal 2015 quarter ended December 31, 2014 was $0.40 versus $0.33 for the corresponding quarter one year earlier, an increase of 21%.

Total assets at December 31, 2014 were $79.0 million, as compared to $76.8 million at June 30, 2014. Total current assets at December 31, 2014 were $46.8 million, as compared to $42.8 million at June 30, 2014.

Total liabilities at December 31, 2014 were $28.8 million, as compared to $30.9 million at June 30, 2014. Total current liabilities at December 31, 2014 were $20.9 million, as compared to $21.2 million at June 30, 2014.

Stockholder's equity at December 31, 2014 was $50.2 million, as compared to $45.9 million at June 30, 2014.

Cash and cash equivalents increased 17% to $11.7 million at December 31, 2014, from $10.0 million at June 30, 2014.
 
Posted by raybond on :
 
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larsstorkehave • 15 hours ago Flag

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Impressive Q2 earnings
.

January 18 2015 I posted: "I expect Q2 revenue of $18,6 - $18.9 million and net income of $3.2 - $3.4 million. Basic net income per common share available to common stockholders of 40 cents."
Fonar just reported: Revenue of $17.1 million, net income of $3.5 million and Basic net income per common share available to common stockholders of 41 cents.
The Q2 revenue was lower than I expected. In my forecast I expected at least 1 of 3 orders from October 2014 would be shipped before December 31. The net income is much better than my expectation if you consider the lower revenue. Gross profit from total revenue in Q2 2015 of 47.1% is significantly up from 44.5% in Q1 2015 and 45.1% in fiscal 2014. Another improvement in Q2 is Provisions for bad debts of only $273,000 compared to $506,000 in Q1 2015.
Total Fonar Corporation Stockholder Equity of $30.6 million or book value of $5.0 per diluted share. Fonar's current assets reduced by total liabilities is $18.8 million or up by $3.0 million compared to Q1 2015 and up $5.9 million compared to June 2014. Fonar's cash and cash equivalents is now 40% of the company's total liabilities. Within 2 years Fonar's cash and cash equivalents surpasses its total liabilities.

At an average Basic net income per share of 40 cents per quarter Fonar's book value is going to reach $10 in 3 years. Cash and cash equivalents of $30 millions or half the book value of $10.

If Fonar in Q3 is able to ship 2 of the 3 MRI scanners in backlog ($1.5 million per MRI scanner) the basic net income is going to increase to 45 cents even if gross profit on the 2 MRI scanners is as low as 9%. Less
 
Posted by raybond on :
 
VERY IMPORTANT NEWS
.

Fonar 10-Q report released February 9 2015 page 20: "On January 8, 2015, the Company purchased 20% of the Class A members ownership interest in Health Diagnostic Management LLC for a cost of $4,971,000. After this transaction, the Company has a 60.4% ownership interest."

100% Class A members ownership has a total market value of $24,855,000 if 20% has a value of $4,971,000. According to the annual report 10-K page 63 the net income in fiscal 2014 to Class A members in HDM LLC was $2,266,473. Fonar has January 8 2015 paid Fonar paid at a P/E of 11. If HDM LLC with the 14 scanning centers has a P/E of 11. Fonar's management must believe Fonar's other 12 centers has a similar P/E value.
In fiscal 2014 Fonar's total net income was $13.4M. Minority interests was $3.0M. Net income to common shareholders was $10.4M.
In fiscal 2015 first 6 month Fonar's net income was $6.7M. Minority interests was $1.5M. Net income to common shareholders was $5.2M. Fonar's revenue isn't dependent of sesaon. We could expect another net income to common shareholders of $5.2M in the 2nd half of fiscal 2015.

If Fonar's management purchase 20% Class A members ownership at a P/E of 11, Fonar has to be priced at a P/E of 11, because managements alternative was a stock repurchase program buying back Fonar shares. Common shareholders net income in fiscal 2014 of $10.4 and another $10.4M again in fiscal 2015 at a P/E of 11. Fonar's valuation has to be $10.4M x 11 or $114.4M. Fonar has 6,179,000 basic diluted shares and must trade at minimum $18.5.

Next the share price of $18.5 doesn't even consider the value of Fonar's patents and rights to the MRI scanners. Consider the value of the MRI patents and Fonar must trade at $25 or more.
 
Posted by raybond on :
 
Every where I go, people are talking about FONR now. I went to Starbucks and the baristas were talking about FONR. I took a taxi and the taxi driver was talking about FONR. FONR to the moon alice.
 
Posted by raybond on :
 
I personally see fonar as still a strong buy and will be looking to buy on the dips. IMHO 18 is a good short term price.
 
Posted by raybond on :
 
up to day so far trading at 13.40 per share on light volume still time to get in for a good return
 
Posted by raybond on :
 
Zacks talks
.

FONR has a Zacks Rank #1. Expect more volatility with this stock, as it has a beta of 3. Our consensus estimate calls for an EPS of $0.45 However, FONR is geared to beat earnings this quarter, as it has in each of the last 4 quarters. As a matter of fact, FONR has posted a beat on our consensus each quarter by an average of 428.89%. You may not want to sleep on this current discount too long.
 
Posted by raybond on :
 
In Germany newss March 04
.

Matthias Schulz, CEO of Medserena, said, "The first three UPRIGHT® MRI centers have had great success. With physicians all over Germany asking about this technology, it has become imperative for us to expand and install a fourth UPRIGHT® scanner. This is in spite of an intensely active MRI market in Germany, where there are already many conventional lie-down MRIs installed. The large number of requests coming from our physicians in Germany,” Mr. Schulz said, “are arising because of the special medical need for FONAR’s unique technology.”

"The German people have a long history in science and technology innovation," Mr. Schulz reported, "so we tend to recognize the potential of any new technology quickly. We have been very successful in Germany with the FONAR UPRIGHT® Multi-Position™ MRI and its power for scanning patients in multiple upright and recumbent positions because our physicians have quickly appreciated the benefits of this new technology and want their patients to have access to those benefits as soon as possible. With 50% of MRIs being of the spine, it is self-evident that to make a satisfactory imaging diagnosis of the spine, the spine needs to be supporting its normal weight load which the conventional lie-down MRI does not permit. In addition, the FONAR UPRIGHT® is able to avoid anesthesia for the imaging of young children in many cases, diagnose the fallen cerebellar tonsils (CTE, cerebellar tonsillar ectopia) that occur from whiplash injuries and diagnose scoliosis in young women without the x-rays that give rise to an increased incidence of breast cancer in scoliosis patients.”

Mr. Schulz continued, "The FONAR UPRIGHT® Multi-Position™ MRI is a most unique MRI scanner. We firmly believe that it will become a standard for MRI diagnostics in Europe, especially in evaluating the spine. No other medical technology can put together in one scanner the ability to achieve detailed images of the patient in any and all of the positions
 
Posted by raybond on :
 
Gurufocus says some nice things about fonar


Growing By Acquisition

Fonar's growth has come, and will continue to come from, expanding their MRI centers under management. This has happened mostly through acquisition. In 2013, HCMA used debt and equity to acquire a 50.5% stake in Health Diagnostic Management (HDM), which operates 14 facilities, expanding revenue by almost 25% in fiscal (June) 2013 and 40% for 2014.

Another way Fonar can grow is to continue to consolidate HDM into the company, earning shareholders a larger piece of the profits of those 14 facilities. To this end, Fonar completed a $5 million deal in January to increase its stake to 60.4%. This will reduce the minority interest taken out of profits, balance sheet equity, and cash flows going forward.

Other Things To Like

Fonar has some other nice attributes, as well. For a tiny ($75 million) company, its competitive positioning is actually quite good. The firm holds numerous patents on the Upright MRI system, is not licensing them, has proven their effectiveness in the past, and has at least a decade of protection. The advantages of the Upright MRI vs. the traditional tunnel-style machine (and even newer open systems) are easily marketable, and indeed more aggressive marketing has driven a 9% increase in scans performed in the first 6 months of this fiscal year.

Also, Fonar is financially a strong company. Debt from the HDM deal has been paid down rapidly, from nearly $16 million at the end of 2013 to under $10 million as of the last quarter. Fonar's monthly-fee management business is recurring and "sticky" (switching management providers would be enormously disruptive), driving very steady and reliable free cash flows at about 11% of sales. Over the medium term, this should allow Fonar to pursue its strategy of acquiring new centers and consolidating HDM without over-leveraging its balance sheet.

Risks

Before we get into any company risks, it is important to stress that Fonar is a micro-cap stock with very limited liquidity and wild price swings. Over the past year the stock has swung between $10 and $20! Only consider this one if you are ready for that, and be sure to use limit orders when entering or exiting the stock.

Operationally, there are a few things to consider. First, despite being a first mover and holding valuable patents, Fonar is still a tiny company today, and its management team still consists of a group of long-timers, all but one of which is over the age of 76! That one, investment banker Ron Lehman (only 37), is behind much of the recent acquisition strategy, so perhaps we're seeing a step in the right direction.

MRI machines are produced by some big-name industrials: General Electric, Siemens, Hitachi, Philips and Toshiba to name a few. All of these companies have far more R&D and marketing resources then Fonar. A newer development from one of these competitors could make Upright MRI less attractive then it is today.

Also, new "Obamacare" rules have reduced reimbursement rates to MRI centers, which has slightly pressured the fees paid to HCMA. Further effects are not predictable but could continue to pressure management fees.

Finally, Fonar's equipment business has been in a long-term decline. Machine sales have fallen from over $9 million in 2010 to under $2 million in 2014, although service fees have remained steady in the $10-11 million range. Further drops here will pressure margins, as this is a more profitable part of the business. On the bright side, trailing twelve month new equipment sales are up to $2.7 million, so this unit could be on the upswing, too.

Conclusion

Fonar is an attractive micro-cap. Unusually for such a small company, it has pretty reliable and recurring revenues, as well as decent competitive advantages, to go on top of a plausible growth strategy. The stock at $12.50 is in the bottom part of its 52-week range, 64% under its 52-week high. Assuming reasonable 6-7% growth going forward, and a 10% earnings yield, I see Fonar worth about $17.50/share - 40% upside from here. We'll add it as our newest Top Buy pick under the "Aggressive" portfolio.

About the author:


Magic Diligence
GuruFocus - Stock Picks and Market Insight of Gurus
 
Posted by raybond on :
 
Intrinsic value increased to $20 per share
.

FONR is an undervalued company. I am glad to see it in the $11.90 per share range. They are in a growing business and a nicely profitable business. The company is bringing in $70 million per yr in revenue. Balance sheet is strong. They have increased their cash position to over $11 million. And cash flow from operations is $10 million per year. I see that the prior year’s Q3 quarter was announced on May 15, and we are likely to see earnings released around that date again this year. I project that FONR will have $18 million in revenue for Q3 and will have $2.2 million in net income (or a hefty $0.35 per share). This would be significantly better than the prior Q3. The capabilities of FONR’s products are being recognized and acknowledge throughout the world now and this will show even more as time moves onward.
Based on liabilities, assets, revenue, margins, and cash flow, I see that FONR is intrinsically worth $124 million. With only 6.2 million shares outstanding, that means FONR is intrinsically worth $20 per share. That is a conservative valuation. If FONR exceeds $0.35 per share, then FONR is likely to see significant upside beyond $20 per share
 
Posted by raybond on :
 
On 11th May Results coming 3 rd, quater.
.

Best Coming.
Regards to all shareholders Culver .

Dear Sr.........

Our next earnings are due and expected on May 11. We plan to submit
the press release before the opening of the New York markets.

With much regards,
Daniel Culver
Director of Communications
FONAR
 
Posted by raybond on :
 
The Craniocervical Syndrome and MRI
.

Examines the impact of rapid advances in MRI on treating patients
Rapid advances in MRI are transforming the treatment of patients suffering from the craniocervical syndrome (CCS). Articles in this publication have been written by leading international experts in the field to provide practitioners with a better understanding of the subtle anatomy and MRI appearances at the craniocervical junction, along with insight into the clinical significance of cerebrospinal fluid (CSF) flow measurements and their relationship to posture. The surgical management of patients with damage to the ligaments at the craniocervical junction and the role of cervical spinal trauma in neurodegenerative diseases as well as CSF flow obstruction are also discussed.
This publication is valuable reading for practitioners in the fields of radiology, neurosurgery, neurology, pain management, orthopaedic surgery as well as for chiropractors and osteopaths.

Bibliographic Details
The Craniocervical Syndrome and MRI
Editor(s): Smith F.W. (London)
Dworkin J.S. (Melville, N.Y.)
VIII + 94 p., 75 fig., 8 in color, 7 tab., hard cover + online supplement material, 2015
Status: available
ISBN: 978-3-318-02696-2
e-ISBN: 978-3-318-02697-9
DOI: 10.1159/isbn.978-3-318-02697-9 Less
 
Posted by raybond on :
 
This was a good quarter. People need to start looking at FONR from a new lens. They make most of their money from managing imaging centers, not from selling their Open MRI systems. It just happens that their imaging centers use Open MRI. The imaging centers gives them consistent cash flows each quarter which they are using to buy out their limited partners so they can get an even greater share of the imaging center revenue. That is where their "growth" is going to come from. They own 60% of HCA, and they still have 40% of HCA to buy out, giving them a place to invest their cash for "growth". These imaging centers are going to pump out cash for years to come, with little risk of competition
 
Posted by raybond on :
 
posted by lasstorkehave


Markets has been up the last year. Investors love good news and growth. A lot of companies have potential. Fonar's acquisition of HDM is completed. Fonar.has had no significant news the last 2 years and has no sign of growth. The company's 9% increase in scans in 2015 has been offset by obamacare etc.

My advice to investors: "Don't despair"

Fonar's fundamentals are great.

- Diluted EPS the last 4 quarters of $1.75
- Book value of $5.29. Add 3 years EPS and book value is in the range of $10-$11 in 2018
- P/E of 6.1 ~ return on invested capital is above 16%
- Profit margin the last 4 quarters is 19.9
- The debt on the HDM acquisition of $20M + $5M has in 2 years been reduced by $16M to $9M
- Fonar's ownership of Imperial is in May 2015 increased by 5% to 96%. 4% is to be purchased in May 2016
- The January 2015 20% Class A acquisition is going to increase net income by 20% of $2.4M or ~ $0.5M
- The May 2015 5% Imperial acquisition is going to increase net income by 5% of $6M or ~ $0.3M
- The above acquisitions in 2015 increase 2015 diluted EPS by $0.13 compared to 2014 EPS ($0.8M/6.4M)
- Positive cash-flow. The 2015 acquisitions is going to reduce dividends to minority interests in 2015 by $1M

Fonar's potential is great

- Fonar is a M&A target. Reasons: Fonar's patents, profit margin and cash-flow
- Future diseases could be identified by Fonar's MRI scans
- Fonar might buy another part of the 80% Class A ownership in HDM
- Fonar has huge potential in export of MRI machines.
- In 3 years Fonar has no debts. Cash-flow from operating activities of $12.5M reduced by investing activities of $0.5M provide enough cash-flow to pay dividend of $2 per share
- A new president might cancel obamacare etc.

Unless terrible news occur an investment in Fonar at $10-$11 has to be compared to a book value in 3 years of $10-$11. I'm convinced my investment in Fonar has reduced downside and signifcant upside. My target on Fonar is $25. My target at a buyout is $40 ~ P/E of 23.
 
Posted by raybond on :
 
FONR up 540% in three and a half years.
.

Price at close on December 28, 2011 was $1.69. Price at close on June 22, 2015 was $10.77. Up 540%.
 
Posted by raybond on :
 
getting close to add to my position
 
Posted by raybond on :
 
Fonar just received tax breaks to stay in Melville in approval from County. It is a 440 K USD deal...Not bad
 
Posted by raybond on :
 
FONAR Announces Fiscal 2015 Year End Earnings

.

Marketwired
Fonar Corporation
September 14, 2015 7:00 AM










. ˠ


.


..
.
.

MELVILLE, NY--(Marketwired - Sep 14, 2015) - FONAR Corporation (NASDAQ: FONR)
•23% Increase of Fiscal 2015 Diluted Net Income per Common Share available to Common Shareholders to $1.95, versus prior year
•15% Increase of Fiscal 2015 Net Income to $15.4 million, versus prior year
•5% Increase of Fiscal 2015 Income from Operations to $12.9 million, versus prior year
•Increase of Fiscal 2015 net revenues to $69.1 million, versus prior year

FONAR Corporation (NASDAQ: FONR), The Inventor of MR Scanning™, reported today its fiscal 2015 results for the year ended June 30, 2015. The Company is known as the first Company to invent and manufacture an MRI (Magnetic Resonance) scanner. Leading the list of FONAR's most recent patented inventions is its technology enabling UPRIGHT® full weight-bearing MRI imaging for the first time on all the gravity sensitive regions of the human anatomy, e.g. the spine, brain, hip, knee, ankle, foot, shoulder, and pelvis. The FONAR UPRIGHT® Multi-Position™ MRI scanner is the world's only MRI scanner licensed under FONAR's multiple UPRIGHT® MRI patents to scan all the patient's body parts in their normal fully weight-bearing UPRIGHT® position.

Financial Highlights

Net income increased 15% to $15.4 million for the fiscal year ended June 30, 2015. This compares with $13.4 million for the fiscal year ended June 30, 2014.

Income from operations increased 5% to $12.9 million for the fiscal year ended June 30, 2015. This compares with $12.3 million for the fiscal year ended June 30, 2014.

Basic net income per common share available to common shareholders increased 23% to $2.00 for the fiscal year ended June 30, 2015 as compared to $1.62 for the fiscal year ended June 30, 2014.

Diluted net income per common share available to common shareholders increased 23% to $1.95 for the fiscal year ended June 30, 2015 as compared to $1.58 for the fiscal year ended June 30, 2014.

Revenues increased to $69.1 million for the fiscal year ended June 30, 2015. This compares to $68.5 million for the fiscal year ended June 30, 2014.

For the year ended June 30, 2015, the revenues from the management of the diagnostic imaging center segment, consisting of patient and management fee revenue, and less the provision for bad debt for patient revenue, was $57.6 million as compared to $56.4 million one year earlier.

At June 30, 2015, total assets were $76.5 million, as compared to $76.8 million one year earlier.

At June 30, 2015, total cash and cash equivalents were $9.4 million, as compared to $10.0 million one year earlier.

At June 30, 2015, total liabilities were $25.7 million, as compared to $30.9 million one year earlier.

At June 30, 2015, total current liabilities were $18.8 million, as compared to $20.9 million one year earlier.
 
Posted by raybond on :
 
larsstorkehave • Sep 14, 2015 11:31 AM Flag


Record earnings in Q4
.

Fonars earnings in Q4 were 88 cents. Before taxes Fonar's diluted net income was 43 cents. Record earnings either way.
 
Posted by raybond on :
 
shrewd_curmudgeon • Sep 14, 2015 1:43 PM Flag

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Beautiful. FONR likely headed to $20 per share
.

Excellent. This is a very valuable company.
FONR posted $16.9 million in revenue and $5.3 million in net income for common shareholders for the quarter. This is awesome. The company has been far more profitable than investors had expected. I could easily see FONR heading over $20 per share.
Balance sheet is strong. Demand is strong. This company is very undervalued. Beautiful. Less

Sentiment: Strong Buy
 
Posted by raybond on :
 
fonr trading at 12.97 pps
 
Posted by raybond on :
 
Fonar is trading at a PE of 6.5. It ought to be trading at a PE of 12-14. Diluted EPS the last 4 years are $0.93 $1.34 $1.62 and $1.95. Fonar's purchase in fiscal 2015 of 20% of Class A members ownership of HDM and 5% of Imp is going to improve EPS in fiscal 2016 by $0.1. Fonar has sufficient cash flow in 2016 to pay long term liabilities and to invest in additional scanning centers or purchase another 20-40% of Class A members ownership in HDM. Les
 
Posted by raybond on :
 
larsstorkehave • 2 hours 56 minutes ago Flag

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My updated 2016 Fonar estimate
.

I used the day to go through the K-10 and have finished my research for fiscal 2016. The news was Imp business is transferred to HDM and HCMA has an 70% ownership of HDM. This is going to save costs in 2016. The numbers below are Q1 and fiscal 2016. Revenue 17.4-69.7. Gross profit 7.8-31.2. Sel, gen & adm 3.0-11.5. Income before taxes 3.7-15.1. Income tax benefit 2.5. Net income 3.6-17.6. EPS common shareholders 0.46-2.30. I expect a 23% increase in income before taxes (excluding minority interests).
In my forecast I have a 2.5M tax benefit. Fonar use projected income in 2016-2018 to calculate deferred tax asset (K-10 page 33). They might calculate the 2016-2018 income using 2013-2015 income reduced by 10-20% just to be on the safe side. The 8.4M deferred tax asset is approx 3 years total income of 26M. in my forecast 2014-2016 income before taxes is in total 39M (excluding minority interests it is 31M).
I have no info on growth and my forecast on revenue in fiscal 2016 is 69.7m or 1% up. Income before taxes increase by 2.3M due to improvement in gross profit and cost savings on sales, general and administrative. Gross profit on product sales in fiscal 2015 was negative. I have a 5% gross margin on product sales in fiscal 2016. Sales, general and administrative was down to 2.4M in Q4 2015 which could indicate cost savings again in fiscal 2016 In my 2016 forecast sales, general and administrative is 11.5M, but it could be reduced as low as 10-11M because of the "merger" of Imp and HDM Less
 
Posted by raybond on :
 
fonar closed at 13.41 today
 
Posted by raybond on :
 
fonr closed at 13.53

eps 1.99 up from 1.74
 
Posted by raybond on :
 
fonar closed at 14.49 today
 
Posted by raybond on :
 
fonar closed at 15.14 today
 
Posted by Bob Frey on :
 
Nice moves!
 
Posted by raybond on :
 
looking good closed at 15.65 for the week might be a pull back soon if there is I am ready to add.
 
Posted by raybond on :
 
fonar close today at 16.20
 
Posted by raybond on :
 
July Re-Org should Add to the Bottom Line
.

See the recent 10-K filing...
 
Posted by raybond on :
 
fonar closed today at 16.61
 
Posted by raybond on :
 
fonar closed at 16.70 today
 
Posted by raybond on :
 
fonar now trading at 17.22 I am interested to see if it holds at this level
 
Posted by raybond on :
 
looks like fonar closed at 17.45 today on heavy volume for fonar.
 
Posted by raybond on :
 
fonar closed today at 17.56

What really gets me is why is fonar not saying anything there has not been a company headline since oct,6
 
Posted by raybond on :
 
fonar pull back 16.82 still no word about anything
 
Posted by raybond on :
 
fonar closed at 17.19 today looks like fonar is establishing a new trading range.
 
Posted by raybond on :
 
Fonar closed at 17.98 today on pretty good volume for fonar.

yes I feel that we are building a new level of resistance fonar is finally getting known.
 
Posted by raybond on :
 
This is a theory but it may have some merit there has to be a reason fonar has been quiet for the last four months and it is only reporting what it has to.


hmiller560 • Aug 19, 2015 12:31 AM Flag

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Keeping an eye on GE Healthcare, Fonar's potential new owner
.

Soon CEO Jeff Immelt will celebrate 2 great successes -- the $14B Alstom deal and unloading another $100B of GE Capital. So the question is --has Jack Welch, who s behind the scenes, mellowed out enough.at 80 to forgive 80 year old Damadian for taking $120M from him? That's what paid for the stand-up MRI developmentI. Well GE likes to offer all the niches to offer a more complete line than competitors. That's why they bought Imatron in the CT space. And Immelt will be in a very strong position to get Jack to go along.
Price is the big question. We should send Ronzi in to negotiate. What do you think Ronzi?-- 50 cents/share or $30. That would be only $180M, chicken feed for GE. The Damasdians would get a sweeterener for their voting shares and Dr. Damadian would receive the special recognition that he deserves as MRI inventor.
It may be an interesting Fall. By the way, GE in acquiring FONR will buy into the new lucrative business model--Service, just like IBM discovered, better than hardware. With a GE nametag, every hospital door will open to FONR's machines
 
Posted by raybond on :
 
good day fonr closed at 18.33 pps lets see if we can hold these levels and move on. Lots of possibilities out there on what is going on.
 
Posted by raybond on :
 
New spinal fusion technologies are a plus for Fonar MRI
.

Maybe contributing to bull move.
 
Posted by raybond on :
 
I sold half of my fonar shares today still leaves me with a lot now I just will leave them rest and see what happens
 
Posted by raybond on :
 
larsstorkehave • 1 hour 7 minutes ago Flag

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Q1 Earnings report compared to my estimate
.

My estimate on Fonar's Q1 earning report published Sep 28/Oct 1 was (actual - my estimate):
Revenue $7.6M - $7.4M. Product sales $0.0M - 0.4M. Patient revenue net $4.6M - 4.0M.
Gross margins: Total revenue 47.4% - 45.5%, Patient revenue 51.8% - 48.4%. Management and other fees (related medical practies included) 39.3% - 37.5%.
Gross profit $8.244M - $7.790M.
SG&A $3.8M - $3.0M (I cut my estimate on SG&A from $3.6M to $3.0M as Q4 was released in Sep.)
Net income $3.5M - $3.6M
EPS common shareholders $0.44 - $0.46.
Even if Gross profit in Q1 was record high $8.244M EPS were $0.02 lower than my estimate. I expected the cost cuts in Q4 to continue in Q1. The "merger" of Fonar's 2 subsidiaries July 1 had an impact on SG&A in Q1.
Fonars revenue is always almost flat, but the increase year on year in Patient revenue of $1.0M or 27% is remarkable, because Gross margin patient revenue also increased yoy to 51.8% from 47.8%.
The product sales of $0.0M isn't an issue. I consider the improved Gross margins and Gross profit and even the increased SG&A in Q1 support my estimate on fiscal 2016 EPS of $2.3. I can't find any weakness in the earning report. My target on Fonar continues to be $26. Less
 
Posted by raybond on :
 
Form 10-Q for FONAR CORP


9-Nov-2015

Quarterly Report


Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.
For the three month period ended September 30, 2015, we reported a net income of $3.5 million on revenues of $17.6 million as compared to net income of $3.3 million on revenues of $18.0 million for the three month period ended September 30, 2014. Operating income increased 5.1% from $3.4 million for the three month period ended September 30, 2014 to $3.6 million for the three month period ended September 30, 2015.

The revenue decrease of 2.1%, from $18.0 million for the first three months of fiscal 2015 to $17.6 million for the first three months of fiscal 2016, was due to a decrease in product sales from $1.3 million for the first three months of fiscal 2015 to $18,000 for the first three months of fiscal 2015. There was also a decrease of 8.3% of service and repair fees from $2.5 million for the first three months of fiscal 2015 to $2.3 million for the three months of fiscal 2016.

Offsetting these decreases, however, net patient fees increased by 26.5% to $4.6 million for the first three months of fiscal 2016 from $3.6 million for the first three months of fiscal 2015 (patient fees less the provision for bad debts for patient fees). Patient fees represent fees for services paid directly by patients to facilities owned by us. All patient fees are derived from Florida facilities.

The decrease in the amount of our revenues was slightly smaller than the decrease in the amount of our costs and expenses, and as a result, our operating income of $3.6 million for the three months ended September 30, 2015 was slightly higher than our operating income of $3.4 million for the three months ended September 30, 2014. In terms of percentages, costs and expenses decreased 3.8% from $14.5 million in the first three months of fiscal 2015 to $14.0 million in the first three months of fiscal 2016, while revenues decreased only 2.0%, from $18.0 million in the first three months of fiscal 2015 to $17.6 million in the first three months of fiscal 2016.

Fonar's wholly-owned subsidiary, Health Management Corporation of America ("HMCA"), is the controlling, but not sole owner of two limited liability companies, Imperial Management Services, LLC ("Imperial") and Health Diagnostics Management, LLC ("HDM"). Effective July 1, 2015, the Company restructured the corporate organization of the management of the diagnostic imaging centers segment of the business. The reorganization was structured to more completely integrate the operations of HMCA and HDM. Imperial Management Services LLC contributed all of its assets (which had been utilized in the business of HMCA) to HDM and received a 24.2% interest in HDM. HMCA retained a direct ownership interest of 45.8% in HDM, and the original investors in HDM retained a 30.0% ownership interest in the newly expanded HDM. The entire management of diagnostic imaging centers business segment is now being conducted by HDM, operating under the name "Health Management Company of America". For the sake of simplicity, HMCA, Imperial and HDM are referred to as "HMCA", unless otherwise indicated.
 
Posted by raybond on :
 
Fonar hasn't had a loss in a single quarter in more than 5 years. Fonar's 2015 Q1 report was released Nov 10 and had record income before tax of $3.5M. Since the report was released Fonar has been traded down 25% from $18.4 to todays level of $13.7. Net income the last 4 quarters is $13.6M or an EPS of $2.05. Fonar trade at a PE of 6.7. Stockholder equity is $41.3M or $6.68 per diluted share. Market cap is $84.6M or $43.3M above stockholders equity. Net income of $13.6M per year and in 3 years stockholder equity is equal to the current market cap of $84.6M. The PE of 6.7 is similar to 15% interest rate. Fonar is a strong buy at these levels
 
Posted by raybond on :
 
looks like fonar might be moving up again fonar closed at $15.90 for the week.
 
Posted by raybond on :
 
fonar starting to creep closed $16.37 pps
 
Posted by raybond on :
 
fonar closed at $17.13 today starting to creep again
 
Posted by raybond on :
 
fonar closed at $17.65 pps
 
Posted by raybond on :
 
fonar inching up $17.75 pps
 
Posted by raybond on :
 
fonar closed at $17.94 today looks like we are still creeping up.
 
Posted by raybond on :
 
fonar closed at $17.83 pps
 
Posted by raybond on :
 
FONR - 1
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FONR did well in 2015. FONR was up $6.67 or 65% to end 2015 at $17.26. What is to be expected of FONR in 2016? Some analysts have focus on FONR's lack of growth because of reduced product sales. Other analysts have focus on tax benefit, which have improved FONR's Q4 report the last 3 years.
I have compared FONR's quarterly "EPS" the last 3-4 years with tax benefit eliminated. "EPS" is calculated as diluted Net income available to common shareholders and added Provision for income taxes. My focus has been on the quarterly “EPS” year on year.

Fiscal: 2013 - 2014 - 2015 - 2016
Q1: $0.24 - $0.39 - $0.39 - $0.44
Q2: $0.22 - $0.34 - $0.37
Q3: $0.17 - $0.27 - $0.35
Q4: $0.34 - $0.20 - $0.42

The quarterly “EPS” the last 3-4 years haven't except for Q4 2014 been lower year on year.
“EPS” in fiscal 2016 Q2-Q4 are going to improve compared to fiscal 2015.

My quarterly "EPS" estimates for fiscal 2016 are:
Q2: $0.44
Q3: $0.45
Q4: $0.52

"EPS" the last 3 years and my estimate on "EPS" for 2016 are:
2013: $0.96
2014: $1.20
2015: $1.53
2016: $1.85

To investors who focus on the lack of growth I did the above exercise and also eliminated gross profit on product sales.

Fiscal: 2013 - 2014 - 2015 - 2016
Q1: $0.24 - $0.39 - $0.36 - $0.46
Q2: $0.19 - $0.32 - $0.35
Q3: $0.18 - $0.24 - $0.38
Q4: $0.31 - $0.12 - $0.45

My quarterly "EPS" estimates for fiscal 2016 are:
Q2: $0.44
Q3: $0.45
Q4: $0.52

"EPS" the last 3 years and my estimate on "EPS" for 2016 are:
2013: $0.92
2014: $1.07
2015: $1.54
2016: $1.87

The impact on “EPS” is insignificant, if I exclude gross margin on product sales in fiscal 2013-2016. It has in fiscal 2013-2014 a small negative impact on “EPS” of $0.02-0.04. In fiscal 2015 and 2016 (estimate) “EPS” has improved by $0.01-0.02
 
Posted by raybond on :
 
1. FONR has the last 3 years continued to purchase ownership from minority interests, which improve “EPS”.

2. Gross margin excluding product sales has increased by 1,7% points in fiscal 2016 Q1 compared to the average of fiscal 2015.

3. The numbers of scans has grown steadily in fiscal 2015 and in fiscal 2016 Q1. Patient revenue grew by 23% in fiscal 2016 Q1 compared to fiscal 2015 Q1.

4. FONR has a growth of 5% from fiscal 2016 Q1 compared to fiscal 2015 Q1 if I exclude product sales. The reason to exclude product sales is it has no gross profit.
 
Posted by raybond on :
 
FONAR Management Subsidiary HMCA Adds 25th MRI Center

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Marketwired
Fonar Corporation
9 hours ago










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MELVILLE, NY--(Marketwired - Jan 6, 2016) - FONAR Corporation (NASDAQ: FONR), The Inventor of MR Scanning™, reported today that its subsidiary Health Management Company of America, LLC (HMCA) is now managing Stand-Up MRI of Great Neck, located at 600 Northern Blvd., Great Neck, New York, bringing the total number of HMCA-managed centers to 25: 18 in New York and 7 in Florida. Twenty four (24) of the centers are equipped with the FONAR UPRIGHT® Multi-Position™ MRI.


Stand-Up MRI of Great Neck is situated on the upscale north shore of Long Island in a heavily-served medical region that includes several hospitals. This latest addition to HMCA's network of UPRIGHT® MRIs is expected to increase FONAR's revenues. Last year, the 24 HMCA-managed sites provided $57.6 million (84%) of FONAR's $69.1 million in revenue.

Vince Orrico, Regional Sales Manager, said, "We've been active in Nassau County for years. Expanding into Great Neck, the heart of Long Island's Gold Coast, perfectly complements our existing network."

Raymond Damadian, M.D., president of FONAR said, "As the world's first MRI Company, we began on Long Island in 1978. Long Island has always been good for us, providing us with an educated and talented workforce, as well as a fine place to live. We now manage 8 Stand-Up MRI centers in the two counties that make up Long Island, allowing us to serve the area which has so benefited us."

About FONAR

FONAR, The Inventor of MR Scanning™, is located in Melville, NY, was incorporated in 1978, and is the first, oldest and most experienced MRI company in the industry. FONAR introduced the world's first commercial MRI in 1980, and went public in 1981. FONAR's stellar product is the FONAR UPRIGHT® MRI (also known as the Stand-Up® MRI), the only whole-body MRI that performs Position™ imaging (pMRI™) and scans patients in numerous weight-bearing positions, i.e. standing, sitting, in flexion and extension, as well as the conventional lie-down position. The FONAR UPRIGHT® MRI often sees the patient's problem that other scanners cannot because they are lie-down and "weightless" only scanners. The patient-friendly UPRIGHT® MRI has a near-zero claustrophobic rejection rate by patients. As a FONAR customer states, "If the patient is claustrophobic in this scanner, they'll be claustrophobic in my parking lot." Approximately 85% of patients are scanned sitting while they watch a 42" flat screen TV.

FONAR has new works-in-progress technology for visualizing and quantifying the flow of cerebrospinal fluid (CSF) which circulates throughout the brain and vertebral column at the rate of 32 quarts per day. This Imaging and quantifying of the dynamics of this vital life-sustaining physiology of the body's neurologic system has been made possible first by FONAR's introduction of the MRI and now due to this latest works-in-progress for quantifying CSF in all the normal positions of the body, particularly in its upright flow against gravity. The type of patient that will benefit from this technology include those with various type of dementia such as former NFL quarterback Jim McMahon.

FONAR's substantial list of patents include recent patents for its technology enabling full weight-bearing MRI imaging on all the gravity sensitive regions of the human anatomy, especially the brain, extremities and spine. FONAR's UPRIGHT® Multi-Position™ MRI is the only scanner licensed under these patents.

UPRIGHT® and STAND-UP® are registered trademarks and The Inventor of MR Scanning™, Full Range of Motion™, Multi-Position™, Upright Radiology™, The Proof is in the Picture™, True Flow™, pMRI™, Spondylography™, Dynamic™, Spondylometry™, CSP™, and Landscape™, are trademarks of FONAR Corporation.

This release may include forward-looking statements from the company that may or may not materialize. Additional information on factors that could potentially affect the company's financial results may be found in the company's filings with the Securities and Exchange Commission.


Contact:


Daniel Culver
Director of Communications
E-mail: Email Contact

The Inventor of MR Scanning™
An ISO 9001 Company
Melville, New York 11747
Phone: (631) 694-2929
 
Posted by raybond on :
 
Right now we experience a China crisis and an oil crisis. Analysts talk of a drop in S&P500 of another 10%. January 7 I predicted FONR in a crisis could trade as low as $14. The last 2 days FONR traded below $14, but closed approx at $14. I've used the drop from $18 to increase my FONR holdings by 40%. My average cost on my 2016 purchase is $13.94. I expect to continue to buy FONR at levels below $14. Less
 
Posted by raybond on :
 
posted by thunderbelly33


Fonar; The Officual MRI of the NFL
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Can save current and former NFL players from dementia, FONR Should be at 25
 
Posted by raybond on :
 





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MELVILLE, NY--(Marketwired - Feb 8, 2016) - FONAR Corporation (NASDAQ: FONR), The Inventor of MR Scanning™, announced today that effective February 11, 2016, Timothy Damadian, the elder son of Dr. Raymond V. Damadian, has been named President and Chief Executive Officer of FONAR Corporation. Dr. Damadian, the inventor of MR scanning and founder of FONAR Corporation, will remain Chairman of the Board.

Dr. Damadian said, "Since 2010, FONAR has posted 22 consecutive profitable quarters, a remarkable achievement. I can say unequivocally that this extraordinary success is entirely attributable to the contributions of Tim and the management team he assembled."


Fiscal Year Ended June 30, 2010 2011 2012 2013 2014 2015
Total FONAR Revenue $ 31,815,555 $ 33,136,395 $ 39,444,419 $ 49,141,814 $ 68,505,477 $ 69,050,996
Total FONAR Net (Loss) Income $ (3,012,742 ) $ 3,309,019 $ 6,875,073 $ 10,256,362 $ 13,396,769 $ 15,430,383
Net (Loss) Income Per Common Share $ (0.61 ) $ 0.56 $ 0.93 $ 1.37 $ 1.62 $ 2.00

The largest area of growth was in the company's diagnostic imaging management segment, Health Management Corporation of America (HMCA).

"FONAR engaged Tim as a consultant in February 2010," continued Dr. Damadian, "at which time I entrusted him with managerial, financial and operational control of the company's business and affairs. At the time HMCA was managing 9 MRI facilities (6 in New York and 3 in Florida) that had completed approximately 29,000 scans in 2009. Over the course of the previous 10 years, Tim had independently built and eventually sold an enormously successful MRI management company of his own, Integrity Healthcare Management, Inc. We wanted him to bring his proven expertise to HMCA.

"Tim brought in the management team that helped him build Integrity and replaced most of the existing HMCA management both at corporate headquarters and at the MRI scanning facilities. We totally embraced Tim's vision for HMCA and immediately implemented his ideas, methods and business plan. By growing HMCA's existing facilities, establishing de novo centers, and by acquisitions, the company now manages 25 facilities (18 in New York and 7 in Florida) that completed over 150,000 scans in 2015.

"As far as I'm concerned, making Tim the president and CEO of FONAR will be a seamless transition. For all practical purposes he and his management team have been providing FONAR with the vision, direction, and management skills accounting for FONAR's success over the past six years. He's also been heavily involved with development of FONAR technology, where his keen understanding of the MRI marketplace and the needs and trends of MRI practitioners has been invaluable in helping me to guide the company's R&D program. Tim is the perfect fit to ensure FONAR's success for years to come."

The new president and CEO said, "It is, of course, a great honor that my father has entrusted me with this responsibility. As we all know, Dr. Damadian founded this company and has tirelessly devoted himself to it for nearly 40 years. I'm delighted that he remains Chairman of the Board and will continue to concentrate on R&D, develop exciting and innovative new products, and advance the industry with indispensible MRI applications. Over all those years, his genius and passion for science and technology is as vibrant as it was back in 1971 when he conceived the idea of an MR scanner that could scan the human body. Then, in 1977, he built the very first whole-body MR scanner, which, in July of that year, produced the first human MR image."

Timothy Damadian - A Brief History

In 1985, at the age of 21, Tim Damadian began his career at FONAR installing magnets, shielded rooms and electronics for FONAR customers all over the world. Over the course of the next 16 years, he worked his way up the corporate ladder, eventually becoming Vice President of Operations. In 1997, Tim formed Health Management Corporation of America (HMCA), a wholly-owned subsidiary of FONAR that, under his leadership, would soon manage dozens of medical and diagnostic imaging offices that generated approximately $40 million in revenue and $7 million in EBITDA for HMCA.

In 2001, Tim left FONAR to form Integrity Healthcare Management, Inc., a diagnostic imaging management company that would eventually manage 11 MRI scanning centers in New York and Florida. The company was a huge success and was sold to Health Diagnostics in 2007. Tim returned to FONAR as a consultant in 2010.

About FONAR

FONAR (NASDAQ: FONR), Melville, NY, The Inventor of MR Scanning™, was incorporated in 1978, and is the first, oldest and most experienced MRI company in the industry. FONAR introduced the world's first commercial MRI in 1980, and went public in 1981. FONAR's signature product is the FONAR UPRIGHT® MRI (also known as the Stand-Up® MRI), the only whole-body MRI that performs Position™ imaging (pMRI™) and scans patients in numerous weight-bearing positions, i.e. standing, sitting, in flexion and extension, as well as the conventional lie-down position. The FONAR UPRIGHT® MRI often sees the patient's problem that other scanners cannot because they are lie-down and "weightless-only" scanners. The patient-friendly UPRIGHT® MRI has a near-zero claustrophobic rejection rate by patients. As a FONAR customer states, "If the patient is claustrophobic in this scanner, they'll be claustrophobic in my parking lot." Approximately 85% of patients are scanned sitting while they watch a 42" flat screen TV. FONAR is headquartered on Long Island, New York.

UPRIGHT® and STAND-UP® are registered trademarks and The Inventor of MR Scanning™, Full Range of Motion™, Multi-Position™, Upright Radiology™, The Proof is in the Picture™, True Flow™, pMRI™, Spondylography™, Dynamic™, Spondylometry™, CSP™, and Landscape™, are trademarks of FONAR Corporation.

This release may include forward-looking statements from the company that may or may not materialize. Additional information on factors that could potentially affect the company's financial results may be found in the company's filings with the Securities and Exchange Commission.


Contact:


Daniel Culver
Director of Communications
E-mail: Email Contact
www.fonar.com
Melville, New York 11747
Phone: (631) 694-2929
 
Posted by raybond on :
 
I anticipate Fonar's Q2 is out tomorrow or Tuesday. Last year it was released Monday february 9.
 
Posted by raybond on :
 
FONAR Announces Fiscal 2016 2nd Quarter and Six Months Financial Results

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Marketwired
Fonar Corporation
February 9, 2016 8:00 AM










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MELVILLE, NY--(Marketwired - Feb 9, 2016) - FONAR Corporation (NASDAQ: FONR)
•Diluted Net Income Per Common Share Available to Common Stockholders increased 33% to $0.53 per share for Fiscal 2016 2nd Quarter versus the same period a year earlier.


•Cash and cash equivalents increased 37% to $13.0 million at December 31, 2015, from $9.5 million at June 30, 2015.


•Net Revenues for Fiscal 2016 2nd Quarter increased 8% to $18.4 million versus the same period a year earlier.


•Net Income for Fiscal 2016 2nd Quarter increased 19% to $4.1 million versus the same period a year earlier.


•Net Income From Operations for Fiscal 2016 2nd Quarter increased 17% to $4.2 million versus the same period a year earlier.


•Net Income Available to Common Stockholders for Fiscal 2016 2nd Quarter increased 31% to $3.3 million versus the same period a year earlier.


FONAR Corporation (NASDAQ: FONR), The Inventor of MR Scanning™, reported its fiscal 2016 second quarter results for the quarter and six month period ended December 31, 2015. FONAR is the first Company in the MRI industry to manufacture an MRI (Magnetic Resonance Imaging) scanner. FONAR's substantial list of patents include recent patents for its technology enabling full weight-bearing MRI imaging in all the gravity sensitive regions of the human anatomy, especially the brain, extremities, spine and cerebrospinal fluid (CSF) flow.

The Company's two industry segments are the management of Stand-Up® MRI (UPRIGHT® Multi-Position™ MRI) centers, and the development, manufacturing and servicing of the UPRIGHT® MRI. Its premier MRI product, the FONAR UPRIGHT® Multi-Position™ MRI scanner, is the world's only MRI scanner licensed under FONAR's multiple UPRIGHT® Multi-Position™ MRI patents to scan all the patient's body parts in their normal fully weight-bearing UPRIGHT® positions.

Financial Highlights

Net Revenues increased 8% for the fiscal 2016 second quarter ended December 31, 2015 to $18.4 million versus $17.1 million for the corresponding quarter one year earlier.

Net Revenues increased 3% to $36.0 million for the fiscal 2016 six month period ended December 31, 2015, from $35.1 million for the corresponding six month period one year earlier.

Net Income increased 19% to $4.1 million for the fiscal 2016 second quarter ended December 31, 2015 versus $3.5 million for the corresponding quarter one year earlier.

Net Income increased 13% to $7.6 million for the fiscal 2016 six month period ended December 31, 2015 versus $6.7 million for the corresponding six month period one year earlier.

Income from Operations for the fiscal 2016 second quarter ended December 31, 2015 increased 17% to $4.2 million, from $3.6 million for the corresponding quarter one year earlier.

Income from Operations increased 11% to $7.8 million for the fiscal 2016 six month period ended December 31, 2015, versus $7.0 million for the corresponding six month period one year earlier.

Diluted net income per common share available to common shareholders increased 33% to $0.53 for the fiscal 2016 second quarter ended December 31, 2015 versus $0.40 for the corresponding quarter one year earlier.

Diluted net income per common share available to common shareholders increased 22% to $0.96 for the fiscal 2016 six month period ended December 31, 2015 versus $0.79 for the corresponding six month period one year earlier.

Total assets at December 31, 2015 were $80.4 million, as compared to $76.4 million at June 30, 2015. Total current assets at December 31, 2015 were $48.7 million, as compared to $43.6 million at June 30, 2015.

Total liabilities at December 31, 2015 were $24.8 million, as compared to $25.7 million at June 30, 2015. Total current liabilities at December 31, 2015 were $19.0 million, as compared to $18.8 million at June 30, 2015.

Stockholder's equity at December 31, 2015 was $80.4 million, as compared to $76.5 million at June 30, 2015.

Cash and cash equivalents increased 37% to $13.0 million at December 31, 2015, from $9.5 million at June 30, 2015.

Management Discussion

Raymond V. Damadian, president and chairman of FONAR Corporation said, "While we are still concerned about the environment created under the Affordable Care Act, we have continued to grow our business consistently. This is because of the adherence to a business strategy that we have mastered which has made the difference."

Dr. Damadian continued: "Our business plan is to grow consistently and to always provide our customers with the most optimal service. Our FONAR UPRIGHT® Multi-Position™ MRI scanner is not only the most comfortable MRI for our customers but the results from the scanner are of the highest professional quality. In this current medical era, it doesn't get any better than this for our patients. The patient sits, watches TV comfortably and obtains a weight-bearing MRI of his problem. Physicians appreciate that it is going to be a scan that can 'SEE IT ALL' and allow the doctor to optimize the TREATMENT OUTCOMES FOR THEIR PATIENT."

Significant Events

As reported on January 6, 2016, the Company reported that its subsidiary Health Management Company of America, LLC (HMCA) had begun managing Stand-Up MRI of Great Neck, located at 600 Northern Blvd., Great Neck, New York, bringing the total number of HMCA-managed centers to 25: 18 in New York and 7 in Florida. Twenty four (24) of the centers are equipped with the FONAR UPRIGHT® Multi-Position™ MRI. Last year, the 24 HMCA-managed sites provided $57.6 million (83%) of FONAR's $69.1 million in revenue.

On February 4, 2016, the television network ESPN ran a 30 For 30 series documentary on the 1985 NFL Chicago Bears that featured Dr. Scott Rosa and Jim McMahon. During the approximately five minute segment, Jim McMahon said he was thankful to Dr. Rosa's treatment. Dr. Rosa provided his patented IGAT™ (Image Guided Atlas Treatment™) that utilized FONAR's UPRIGHT® MRI examination of Jim McMahon to determine the percussion direction and percussion angle of his IGAT™ procedure. FONAR provided the UPRIGHT® Multi-Position™ MRI that for the first time successfully detected and diagnosed Jim McMahon's health issues as originating in Jim's neck (not his brain) from malalignments of the craniocervical junction vertebra (C1 & C2) from prior football traumas. These malalignments were obstructing cerebrospinal fluid (CSF) flow into his brain and generating the increased intracranial pressure (ICP) that was adversely affecting his health. This enabled Jim's successful cervical realignment by Dr. Rosa's IGAT™ (traumaimagingfoundation.com/.com).

Dr. Damadian said: "We are proud that our FONAR UPRIGHT® MRI has made such a critical difference to NFL great Jim McMahon. We recommend our shareholders watch the 30 For 30 series documentary on the 1985 NFL Chicago Bears when it runs again on Friday, February 12, 2016 at 9 PM Eastern Time on ESPN2." Check your local listings.
 
Posted by raybond on :
 
WOW - Appears like they blew estimates away.
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Diluted Net Income Per Common Share Available to Common Stockholders increased 33% to $0.53 per share for Fiscal 2016 2nd Quarter versus the same period a year earlier.

Cash and cash equivalents increased 37% to $13.0 million at December 31, 2015, from $9.5 million at June 30, 2015.

Net Revenues for Fiscal 2016 2nd Quarter increased 8% to $18.4 million versus the same period a year earlier.

Net Income for Fiscal 2016 2nd Quarter increased 19% to $4.1 million versus the same period a year earlier.

Net Income From Operations for Fiscal 2016 2nd Quarter increased 17% to $4.2 million versus the same period a year earlier.

Net Income Available to Common Stockholders for Fiscal 2016 2nd Quarter increased 31% to $3.3 million versus the same period a year earlier. Less

Sentiment: Strong Buy
 
Posted by raybond on :
 
My 2 year target on FONR is $25-28 up from my previous target of $25. Trading at a PE of 10-11. (PE exclude tax benefit 12.5-14).
 
Posted by raybond on :
 
larsstorkehave • 20 hours


George Kesarious
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George Kesarious just published an article on FONR at Seeking Alpha.
I'm very disappointed with his article as it surprisingly lack depth and end up too superficial. GK has quit his investment in FONR at $18 and recommend buy below $15 and sell at $20. I conclude his sellout was in early January as FONR hasn't traded at $18 since. GK can't see FONR trade above $20 and his argument is no growth on product sales and anyone can make money on managing diagnostic centers. He also disagree on the decision to let the founders son be the new CEO.
GK might be correct that the company isn't a takeover target with the few MRI sales. He also might have a point that FONR hasn't the potential to trade at $30-50 the next 12 month.
I totally disagree with him on the target of #$%$20 and the CEO. My guess is, GK now feel obliged to explain why his predictions, recommendations and targets the last 2 years of $25-30 isn't met yet.
I believe the record sales and EPS in Q2 2016 came as an complete surprise to him, and now he has to sustain his arguments from early January as he sold his FONR shares. In his article he expect an EPS about $2 over the next 12 month, but FONR's EPS the last 4 quarters has been $2.13 and improved qoq and yoy. If Q3 EPS is $0.44 as I expect, the last 12 month EPS is $2.26. Why then a setback to $2? In his article he is convinced the diagnostic revenue might have topped off already. Maybe that is his reason to expect lower EPS over the next 12 month. Next he doesn't comment on the opening of a new center which might increase diagnostic revenue further. Managements decision to open a new center definitely isn't in line with GK's argument of a diagnostic environment where revenue is in decline. The revenue excluding product sales/service/repairs the last 12 month of $59.8M or $3.5M above the previous 12 month of $56.3M is a pretty decent growth of 6.2%.
My target on FONR based on an EPS of $2.5 over the next 12-15 month is unchanged $25-28. Less

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Posted by raybond on :
 
This is a cash cow


FONR is bringing in $13 million in cash flow per year from operations. Balance sheet is very strong with over $35 million in net tangible assets. And balance sheet keeps improving. In addition to this strong balance sheet, the stream of income is $13 million per year. The total market cap is only $86 million. The amount of income that comes in in 5 years equals the whole market cap of the company! Way undervalued.
 
Posted by raybond on :
 
My projections for the next quarterly report are:
Revenue $17.8M (17.1) - growth 4.3% yoy.
Gross profit $8.3M - gross margin excluding product sales 47.3% - up 1.9% yoy.
Income from operations $3.6M (2.9) - up 24.9% yoy.
Net income $3.5M (2.8) - up 27.4% yoy.
Diluted net income per common share available to common stockholders $0.44 (0.31) - up 43.9% yoy.
Cash and cash equivalents $15.0M
Total current assets $50.9M
Total current liabilities $19.0M
Equity per diluted share as of March 2016 $7.71

Estimated equity per diluted share as of June 2016 $8.71
Estimated equity per diluted share as of June 2017 $11.24
Estimated equity per diluted share as of June 2018 $13.79

To investors: Don't despair. In 2 years according to my projections FONR's equity per diluted share is $13.79. Cash and cash equivalents exceed $34M
 
Posted by raybond on :
 
Monday may 9th next earnings report is due out if you are waiting in the wings keep that in mind
 
Posted by raybond on :
 
MELVILLE, N.Y. (AP) _ Fonar Corp. (FONR) on Tuesday reported fiscal third-quarter earnings of $2.8 million.

The Melville, New York-based company said it had net income of 45 cents per share.

The MRI scanner designer posted revenue of $18.6 million in the period.
 
Posted by raybond on :
 
Fonar Corp. (FONR) -NasdaqCM  In Watchlist


16.49 Up 0.31(1.92%) 4:00PM EDT


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Income Statement Get Income Statement for:


View: Annual Data | Quarterly Data All numbers in thousands


Period Ending
Mar 31, 2016

Dec 31, 2015

Sep 30, 2015

Jun 30, 2015

Total Revenue 18,620 18,368 17,611 16,878
Cost of Revenue 10,065 9,862 9,367 9,698


Gross Profit 8,555 8,506 8,244 7,180


Operating Expenses
Research Development 394 413 436 696
Selling General and Administrative 4,533 4,117 3,775 2,351
Non Recurring (469) (249) 418 935
Others - - - -


Total Operating Expenses - - - -




Operating Income or Loss 4,097 4,225 3,615 3,197


Income from Continuing Operations
Total Other Income/Expenses Net 57 58 50 449
Earnings Before Interest And Taxes 4,154 4,283 3,665 3,646
Interest Expense 127 139 150 157
Income Before Tax 4,027 4,144 3,515 3,489
Income Tax Expense 145 40 50 (2,712)
Minority Interest (877) (611) (603) (502)


Net Income From Continuing Ops 3,005 3,493 2,862 5,699


Non-recurring Events
Discontinued Operations - - - -
Extraordinary Items - - - -
Effect Of Accounting Changes - - - -
Other Items - - - -




Net Income 3,005 3,493 2,862 5,699
Preferred Stock And Other Adjustments - - - -


Net Income Applicable To Common Shares 2,810 3,266 2,676 5,329
 
Posted by raybond on :
 
fonar closed at 18.37 today up on high volume for fonar. I wish I had an answer to this last weeks volume spike but I don't' I will investigate and be back with a post what ever is going on is very positive.
 
Posted by raybond on :
 
larsstorkehave • Jun 10, 2016 1:25 AM Flag

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In my post several month ago I strongly adviced investors to buy heavily up in FONR at levels below $16. I increased my position. The earnings reports of Q2 and Q3 were better than expected and I kept buying at $16-17.3. I now hold more than 1% of FONR which was my limit but I'm still tempted to increase my position at the current levels. At $18.37 FONR trades at a PE of 8 and the company has growth potential and potential to improve earnings.
FONR's data: EPS last 4 quarters of $2.32, almost no debts, an acquisition target, strategy of opening several new centers and next generation as CEO to prepare the company for a takeover or managing another 10-25 new centers.

My target on FONR at an EPS of $2.32 is $28, but I'm not out of FONR at $28 because I expect an acquisition at $40-50 within 2 years. At $28 I might sell 50% of my position. At $33-35 another 25% and the last 25% at $40. At $40 FONR trade at a PE of 17.2. Less
 
Posted by raybond on :
 
fonar closed at 19.00 today. Seems to me we have a breakout , I will follow if it goes high enough I will sell off some of my position.
 
Posted by raybond on :
 
fonar closed at 20,14 today
 
Posted by raybond on :
 
fonar closed at 20.00 even
 
Posted by raybond on :
 
fonar closed at 21.63 today getting close for me to sell some
 
Posted by raybond on :
 
FONR today traded at $21.44 and closed at $21.18. It might trade at $22.00-22.50 this week. The resistance above $22 seems to be significant. I'm concerned on how fast it went from $13 to $22.50, dropped to low $19's and now back at today's close above $21. The volume has been high the last month. If volume get down below 30,000 shares, I don't expect FONR to stay at the current level above $20, then I expect FONR to trade between $ 17-18 before earnings are out September 9-13. If Q4 EPS is above last year FONR trade above $25. But if Q4 EPS is below Q4 2015 FONR might drop to $14-15. We saw it in in 2014. FONR dropped from $28 to $17 within few days.
 
Posted by raybond on :
 
fonar closed at 22.50 t0day still can't put my finger on any one thing for its moves.
 
Posted by raybond on :
 
fonar closed at 22.93 today
 
Posted by raybond on :
 
fonr closed at 23.06
 
Posted by raybond on :
 
fonar closed at 23.44 today
 
Posted by raybond on :
 
victorvest rates fonar

GRT (Earnings Growth Rate): GRT reflects a company's one to three year forecasted earnings growth rate in percent per year. FONR has a forecasted Earnings Growth Rate of 13.00 %, which VectorVest considers to be good.

EPS (Earnings per Share): EPS stands for leading 12 months Earnings Per Share. FONR has a forecasted EPS of $2.39 per share. VectorVest determines this forecast from a combination of recent earnings performance and traditional fiscal and/or calendar year earnings forecasts.

P/E (Price to Earnings Ratio): P/E shows the dollars required to buy one dollar of earnings. FONR has a P/E of 9.81. The average P/E of all the stocks in the VectorVest database is 39.23.

EY (Earnings Yield): EY reflects earnings per share as a percent of Price. FONR has an EY of 10.20 %. This is above the current average of 2.55 % for all the stocks in the VectorVest database.

GPE (Growth to P/E Ratio): FONR has a GPE rating of 1.33. A stock is commonly considered to be undervalued when GPE is greater than 1.00. This does not take into account the effect of interest rates on P/E ratios. With long-term interest rates currently at 2.53 %, the operative GPE ratio is 0.06. Therefore, FONR may be considered to be undervalued.

DIV (Dividend): VectorVest reports annual, regular, cash dividends as indicated by the most recent payments. Special distributions, one-time payments, stock dividends, etc., are not generally included in DIV. FONR does not pay a dividend.

DY (Dividend Yield): DY reflects dividend per share as a percent of Price. FONR does not pay a dividend, so it does not have a Dividend Yield rating. DY equals 100 x (DIV/Price). It is useful to compare DY with EY. If DY is not significantly lower than EY, the dividend payment may be in jeopardy.

DS (Dividend Safety): DS is an indicator of the assurance that regular cash dividends will be declared and paid at current or at higher rates for the foreseeable future. FONR does not pay a dividend, so it does not have a Dividend Safety rating. Stocks with DS values above 75 typically have RS values well above 1.00 and EY levels that are much higher than DY.

DG (Dividend Growth Rate): Dividend Growth is a forecasted annual growth rate of a company's dividend based on historical dividend payments and dividend predictability. It is a subtle yet important indicator of a company's financial performance. It also provides some insight into the board's outlook on the company's ability to increase earnings. FONR does not pay a dividend, so it does not have a Dividend Growth rating.

YSG (YSG-Vector): YSG is an indicator which combines DY, DS and DG into a single value, and allows direct comparison of all dividend-paying stocks in the database. FONR does not pay a dividend, so it does not have a YSG rating. Stocks with the highest YSG values have the best combinations of Dividend Yield, Safety and Growth. These are the stocks to buy for somewhat above current income and long-term growth.

AvgVol: AvgVol is the 50 day moving average of daily volume as computed by VectorVest. FONR has an AvgVol of 58,739 shares traded per day.

%Vol: %Vol reflects the percent change in today's trading volume as compared to the AvgVol. %Vol equals ((Volume - AvgVol) / AvgVol ) * 100. FONR had a %Vol of -6.78 % on Monday, July 18, 2016

%PRC: FONR Price changed 1.65 % from the prior day's closing price.

Sales: FONR has annual sales of 71,000,000

Sales Growth: Sales Growth is the Sales Growth Rate in percent over the last 12 months. FONR has a Sales Growth of 9.00 % per year. This is good.

Sales Per Share (SPS): FONR has annual sales of $11.12 per share.

Price to Sales Ratio (P/S): FONR has a P/S of 2.11.

Shares: FONR has 6,000,000 shares of stock outstanding.

Market Capitalization: FONR has a Market Capitalization of 150,000,000.

Business Sector: FONR has been assigned to the Healthcare Business Sector. VectorVest classifies stocks into over 200 Industry Groups and 40 Business Sectors.

Industry Group: FONR has been assigned to the Healthcare (Instruments) Industry Group. VectorVest classifies stocks into over 200 Industry Groups and 40 Business Sectors.

Business Description: Fonar Corporation (Fonar), incorporated on July 17, 1978, operates in two segments: medical equipment segment, and physician management and diagnostic services segment. Fonar is engaged in the business of designing, manufacturing, selling and servicing magnetic resonance imaging (MRI) scanners, which utilize MRI technology for the detection and diagnosis of human disease, abnormalities, other medical conditions and injuries.
 
Posted by raybond on :
 
contact info


FONAR CORPORATION
110 Marcus Drive
Melville, NY 11747
phone: 1-631-694-2929
fax: 1-631-753-5150 info@fonar.com
SALES (U.S.) phone: 1-631-694-2929
fax: 1-631-390-7766 sales@fonar.com

SALES (Europe)
Tecserena GmbH
Maternusstrasse 44
50996 Cologne, Germany
phone: +49 (221) 340-289-0
fax: +49 (221) 340-289-10 info@tecserena.com www.tecserena.com
CUSTOMER SERVICE phone: 1-631-420-4000
fax: 1-631-694-2449
INVESTOR RELATIONS phone: 1-631-694-2929
fax: 1-631-390-1709 Email Investor Relations
HUMAN RESOURCES
phone: 1-631-694-2929
fax: 1-631-694-5434
 
Posted by raybond on :
 
fonar closed at 23.78 today
 
Posted by raybond on :
 
Results For Fiscal 2017

Nov 9, 2016 2:00 PM
1 Comment
MELVILLE, NY--(Marketwired - Nov 9, 2016) - FONAR Corporation ( NASDAQ : FONR )
Diluted Net Income per Common Share Available to Common Stockholders increased 26% to $0.54 per share for 1st Quarter Fiscal 2017 from $0.43 during the same quarter one year earlier.
Net Income Available to Common Stockholders increased 25% to $3.3 million for 1st Quarter Fiscal 2017 versus the same quarter one year earlier.
Net Income increased 30% to $4.5 million for 1st Quarter Fiscal 2017 versus the same quarter one year earlier.
Income from Operations for 1st Quarter Fiscal 2017 increased 31% to $4.8 million versus the same quarter one year earlier.
Total Revenues - Net for 1st Quarter Fiscal 2017 increased 6% to $18.7 million versus the same quarter one year earlier
 
Posted by raybond on :
 
I am getting ready to get back in


few ideas that appear to be medical stocks a value investor could love.

Fonar (FONR) makes MRI machines and also has four diagnostic imaging facilities in Florida; it also manages 25 MRI scanning facilities, which includes 18 in New York and seven in Florida. According to Fonar's website, it is the oldest magnetic resonance imaging (MRI) company in the industry and its chairman, Dr. Raymond Damadian, is the inventor of the scanning device. Business is pretty good right now, and Fonar's most recent earnings report showed solid gains in revenues and profits. Best of all, the stock looks cheap here, with an EV/EBIT ratio of just 7.3. The F-score is a solid seven, so the company is in decent financial shape with solid prospects.

The thing that interested me about this company is its Upright Multi-Position MRI scanner. I have had a few MRIs over the years, and I can tell you I hate being in that tube. This new scanner allows patients to sit upright and watch TV or read a book while the scan is done. It also allows the scan to be done in full weight-bearing position, which can be very useful when examining the back or spine under the stresses they might experience during normal activities.

The company has some exciting products under development as well. The OR-360º is a room-size MRI that will allow surgeons, along with their assistants and equipment, to operate without obstruction inside the scanner's magnet using the imagery provided in real time as they work. Fonar also is working on technology for visualizing and quantifying the cerebral hydraulics of the central nervous system. Both of these developments could be growth drivers in the future.

As usual, I have run out of room to talk about the other medical companies that pass my basic value/private equity screens. This is all very much a work in progress, but health care is a source of potential 100-to-1 ideas, so finding a way to uncover those with huge potential at bargain prices is worth a little time and effort.
 
Posted by raybond on :
 
FONAR Announces Latest Income-Boosting Transaction


GlobeNewswire•June 20, 2017


MELVILLE, N.Y., June 20, 2017 (GLOBE NEWSWIRE) -- FONAR Corporation (FONR), The Inventor of MR Scanning™, reported today that Health Management Company of America (HMCA), of which FONAR is the majority owner, has now purchased more than 99% interest in the FONAR MRI equipment lease related to Stand-Up MRI of Great Neck, thereby adding to FONAR’s net income and cash flow.

Turnkey Services of Great Neck, LLC, by way of an operating lease, has been the sole provider of a FONAR UPRIGHT® Multi-Position™ MRI to HMCA-managed Stand-Up MRI of Great Neck, which is located in Great Neck, New York.

Timothy R. Damadian, President and CEO of FONAR Corporation, said, “We are pleased to report that with this transaction and the other three acquisitions made within the last twelve months, we continue to contribute to the growth and financial stability of the company and eagerly continue our search for similar promising opportunities.”

About FONAR:

FONAR, The Inventor of MR Scanning™, located in Melville, NY, was incorporated in 1978 and is the first, oldest and most experienced MRI company in the industry. FONAR introduced the world's first commercial MRI in 1980, and went public in 1981. FONAR's signature product is the FONAR UPRIGHT® Multi-Position™ MRI (also known as the STAND-UP® MRI), the only whole-body MRI that performs Position™ imaging (pMRI™) and scans patients in numerous weight-bearing positions, i.e. standing, sitting, in flexion and extension, as well as in the conventional lie-down position. The FONAR UPRIGHT® MRI often detects patient problems that other MRI scanners cannot because they are lie-down and "weightless-only" scanners. The patient-friendly UPRIGHT® MRI has a near-zero claustrophobic rejection rate by patients. Regarding patient comfort, as one FONAR customer stated, "If the patient is claustrophobic in this scanner, they'll be claustrophobic in my parking lot." Approximately 85% of patients are scanned sitting while watching TV.

UPRIGHT® and STAND-UP® are registered trademarks and The Inventor of MR Scanning™, Full Range of Motion™, Multi-Position™, Upright Radiology™, The Proof is in the Picture™, True Flow™, pMRI™, Spondylography™, Dynamic™, Spondylometry™, CSP™, and Landscape™, are trademarks of FONAR Corporation.

This release may include forward-looking statements from the company that may or may not materialize. Additional information on factors that could potentially affect the company's financial results may be found in the company's filings with the Securities and Exchange Commission.
 
Posted by raybond on :
 
FONAR Set to Join Russell 3000 Index


GlobeNewswire•June 23, 2017

Comment


MELVILLE, N.Y., June 23, 2017 (GLOBE NEWSWIRE) -- FONAR Corporation (FONR), The Inventor of MR Scanning™, reported today that it is set to join the broad-market Russell 3000® Index at the conclusion of the Russell indexes annual reconstitution, effective after the US market opens on June 26, according to a preliminary list of additions posted June 9 and today, June 23.

The annual Russell indexes reconstitution captures the 4,000 largest US stocks as of the end of May, ranking them by total market capitalization. Membership in the US all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index as well as in appropriate growth and value style indexes. FTSE (Financial Times and Stock Exchange) Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.

Raymond Damadian, founder and Chairman of FONAR said, “I am proud of this remarkable milestone for our Company. It is based on our Company’s share price and is an indication that we have been delivering shareholder value. It is a result of the successful strategy we have put in place in recent years that has allowed the Company to be profitable for 28 consecutive quarters.”

Timothy R. Damadian, President and CEO of FONAR said, “FONAR’s inclusion in the Russell 3000 is important because it gives institutions, mutual funds and the investing community greater visibility of our Company. They’re all looking for successful value stocks, and we’ve shown that FONAR can deliver.”

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $8.4 trillion in assets are benchmarked against Russell’s US indexes. Russell indexes are part of FTSE Russell, a leading global index provider. For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.

About FTSE Russell:

FTSE Russell is a leading global index provider creating and managing a wide range of indexes, data and analytic solutions to meet client needs across asset classes, style and strategies. Covering 98% of the investable market, FTSE Russell indexes offer a true picture of global markets, combined with the specialist knowledge gained from developing local benchmarks around the world.

FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $12.5 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create investment funds, ETFs, structured products and index-based derivatives. FTSE Russell indexes also provide clients with tools for asset allocation, investment strategy analysis and risk management.

A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on index innovation and customer partnership applying the highest industry standards and embracing the IOSCO Principles. FTSE Russell is wholly owned by London Stock Exchange Group
 
Posted by raybond on :
 
FONAR Celebrates Two Milestones: the 40th Birthday of the MRI Industry and the Impact of Joining the Russell 3000® Index


MELVILLE, N.Y., July 10, 2017 (GLOBE NEWSWIRE) -- FONAR Corporation (FONR), The Inventor of MR Scanning™, celebrates the 40th anniversary of the world’s first MRI picture, by FONAR’s founder, Raymond V. Damadian, M.D., and his team, on his human-size MRI machine, thereby birthing what has grown into a multi-billion-dollar industry. FONAR also celebrates the very positive impact of being included, as of June 26, in the Russell 3000® Indexes annual reconstitution, which has increased the Company’s membership in related index funds and ETFs (Exchange Traded Funds) to over 60, allowing mutual funds, institutions, and the investing community greater visibility of FONAR and helping to build shareholder value.

Raymond V. Damadian, M.D., chairman and founder of FONAR, together with his two post-graduate assistants, Lawrence Minkoff, Ph.D. and Michael Goldsmith, Ph.D., began construction of the first human-sized magnetic resonance imaging (MRI) scanner, in January of 1976, at their research lab in SUNY Downstate Medical Center, Brooklyn, NY. This first scanner, named Indomitable, is now at the Smithsonian Institution.


After many years of research, Dr. Damadian’s moment of truth began late on July 2, 1977 when his graduate student, Lawrence Minkoff, Ph.D., entered Indomitable. The whole-body scan of Dr. Minkoff’s chest was completed at 4:45 A.M. on July 3, 1977.

See photograph of Dr. Lawrence Minkoff sitting in Indomitable (July 3, 1977) for the acquisition of the first-ever MRI of a human being (4:45 AM) here: http://www.globenewswire.com/NewsRoom/AttachmentNg/c5b22fce-4d43-4a4d-94a8-455b2 c1cad14

MR scanning was proposed for the first time in the paper "Tumor Detection by Nuclear Magnetic Resonance" (Science, March 19, 1971). That paper reported that there are dramatic differences in the characteristic NMR (MRI) parameters, known as T1 and T2, between healthy and cancerous tissues, as well as between the healthy tissues themselves. It is precisely these differences that provide the exceptional anatomic contrast (pixel contrast) of the medical images generated by today's MRI scanners.

In February 1974, U.S. Patent #3,789,832 (filed March 17, 1972), “Apparatus and Method for Detecting Cancer in Tissue,” was granted. It was the world's first description of an apparatus and method for scanning the human body by MRI. It was the first of 4,552 patents for MRI (as of 2/21/13) issued by the United States Patent Office. It introduced the T1 and T2 tissue relaxation differences reported in Science that provided the anatomic detail of the body's critical soft tissue VITAL organs (brain, kidney, heart, liver, muscle, intestine) that had been missing from medical images (x-ray images) for more than a century. These T1 and T2 tissue relaxation differences discovered by Dr. Damadian became the foundation of nearly all of the images produced by today's MRI scanners. The Company was successful with this patent in its litigation with General Electric that culminated in 1997 resulting in GE paying approximately $46.4 million for FONAR's cancer detection patent and an additional $82.3 million for its multi-angle oblique imaging patent.

Dr. Damadian said, “What I am most grateful for is that the MRI scanner is now found throughout the world, with over 20,000 installed world-wide and over 60 million MRI examinations being performed each year. I am sincerely grateful for the blessing that has enabled me to help so many people.”

Timothy R. Damadian, President and CEO of FONAR said, “I remember being at an Independence Day family gathering the day my father and his team had finally achieved what they had been so diligently working on – the first MRI picture. I was just 13 years old then. I remember my family and I being very happy and proud of him, but, frankly, I had no sense whatsoever of the importance of that event. Having said that, I’m not sure there were many people, if any, back then who recognized his achievement as a medical game-changer, aside from my father, that is. He went on to build FONAR and launched an industry that has helped countless numbers of people the world over. I remain proud of him and am grateful for the opportunity to be part of his adventure.”
 
Posted by raybond on :
 
fonar closed today at 31.05
 


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