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ｔａｒｇｅｔ $１０
FONAR Reports Profitable First Quarter 2005
Tuesday November 9, 8:30 am ET
Revenues Increase 89% to $25 Million
MELVILLE, N.Y.--(BUSINESS WIRE)--Nov. 9, 2004--FONAR Corporation (NASDAQ:FONR - News), The MRI Specialist(TM), today announced financial results for the first quarter of fiscal 2005, ending September 30, 2004.
Revenues for the first quarter of 2005 increased 89% to $25.1 million, compared to $13.3 million in the first quarter of 2004. Overall revenues attributable to our medical equipment (MRI) segment increased 164% in the first quarter of 2005 to $19.3 million compared to $7.3 million in the first quarter of 2004. This growth is primarily the result of increased scanner sales revenues for the FONAR Upright(TM) MRI, which rose from $6.1 million in the first quarter of last year to $17.7 million in the current year quarter, an increase of 190%. Service and repair revenues were $1.0 million in the first quarter of 2005 compared to $684,000 in the first quarter of 2004, an increase of 52%. License fees and royalties remained constant at $585,000.
Revenues attributable to our physician and diagnostic services management segment (HMCA) were $5.8 million in the first quarter of 2005 compared to $6.0 million in the first quarter of 2004, a decrease of 3%. This decrease is primarily attributable to reduced fees from centers in Florida, which were impacted by severe weather in the state in August and September of 2004.
Net income for the first quarter of 2005 was $786,000, or $0.01 per share (basic and diluted), compared to a net loss of $3.8 million, or $0.05 loss per share (basic and diluted), for the same period of last year. Income from total company operations was $907,000, compared to a loss from operations of $3.7 million in the first quarter of last year. Costs related to product sales increased 216% to $11.1 million in the first quarter of 2005, compared to $3.5 million in the first quarter of 2004. Costs related to providing service rose 25%. Costs related to HMCA remained essentially constant at $3.5 million in the first quarter of 2005 and 2004.
ｔａｒｇｅｔ $１０
FONAR Reports Profitable First Quarter 2005
Tuesday November 9, 8:30 am ET
Revenues Increase 89% to $25 Million
MELVILLE, N.Y.--(BUSINESS WIRE)--Nov. 9, 2004--FONAR Corporation (NASDAQ:FONR - News), The MRI Specialist(TM), today announced financial results for the first quarter of fiscal 2005, ending September 30, 2004.
Revenues for the first quarter of 2005 increased 89% to $25.1 million, compared to $13.3 million in the first quarter of 2004. Overall revenues attributable to our medical equipment (MRI) segment increased 164% in the first quarter of 2005 to $19.3 million compared to $7.3 million in the first quarter of 2004. This growth is primarily the result of increased scanner sales revenues for the FONAR Upright(TM) MRI, which rose from $6.1 million in the first quarter of last year to $17.7 million in the current year quarter, an increase of 190%. Service and repair revenues were $1.0 million in the first quarter of 2005 compared to $684,000 in the first quarter of 2004, an increase of 52%. License fees and royalties remained constant at $585,000.
Revenues attributable to our physician and diagnostic services management segment (HMCA) were $5.8 million in the first quarter of 2005 compared to $6.0 million in the first quarter of 2004, a decrease of 3%. This decrease is primarily attributable to reduced fees from centers in Florida, which were impacted by severe weather in the state in August and September of 2004.
Net income for the first quarter of 2005 was $786,000, or $0.01 per share (basic and diluted), compared to a net loss of $3.8 million, or $0.05 loss per share (basic and diluted), for the same period of last year. Income from total company operations was $907,000, compared to a loss from operations of $3.7 million in the first quarter of last year. Costs related to product sales increased 216% to $11.1 million in the first quarter of 2005, compared to $3.5 million in the first quarter of 2004. Costs related to providing service rose 25%. Costs related to HMCA remained essentially constant at $3.5 million in the first quarter of 2005 and 2004.
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