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raybond
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fonar closed at 17.19 today looks like fonar is establishing a new trading range.
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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.

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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
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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

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raybond
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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.

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New spinal fusion technologies are a plus for Fonar MRI
.

Maybe contributing to bull move.

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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

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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

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raybond
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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.

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raybond
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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
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raybond
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looks like fonar might be moving up again fonar closed at $15.90 for the week.

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raybond
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fonar starting to creep closed $16.37 pps
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raybond
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fonar closed at $17.13 today starting to creep again
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raybond
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fonar closed at $17.65 pps

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fonar inching up $17.75 pps

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raybond
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fonar closed at $17.94 today looks like we are still creeping up.

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fonar closed at $17.83 pps

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raybond
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FONR - 1
.

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

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raybond
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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.

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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

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raybond
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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

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posted by thunderbelly33


Fonar; The Officual MRI of the NFL
.

Can save current and former NFL players from dementia, FONR Should be at 25

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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

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raybond
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I anticipate Fonar's Q2 is out tomorrow or Tuesday. Last year it was released Monday february 9.

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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.

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WOW - Appears like they blew estimates away.
.

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

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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).
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larsstorkehave • 20 hours


George Kesarious
.

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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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.

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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

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Monday may 9th next earnings report is due out if you are waiting in the wings keep that in mind

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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.

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Fonar Corp. (FONR) -NasdaqCM  In Watchlist


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


.


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

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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.
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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

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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.

--------------------
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