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[QUOTE]Originally posted by raybond: [QB] posted from another board larsstorkehave • 15 hours ago Flag 6 users liked this posts users disliked this posts 1 Reply 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 [/QB][/QUOTE]
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