secwatch.observer — SEC 8-K summary
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Issuer:     FONAR CORP (FONR)
CIK:        0000355019
Form:       8-K
Filed at:   2022-09-29T23:59:59+00:00
Accession:  0000355019-22-000050
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02
LLM model:  deepseek-v4-flash:cloud@v2

FONAR fiscal 2022 earnings: revenue $97.6M (+9%), net income $17.2M (+26%), EPS $1.75
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- Total revenues net increased 9% to $97.6M; income from operations up 29% to $22.0M; net income up 26% to $17.2M.
- Diluted EPS rose 21% to $1.75; cash and equivalents increased 10% to $48.8M; working capital up 15% to $102.1M.
- Founder and Chairman Raymond V. Damadian died on August 3, 2022; his son Timothy R. Damadian will become Chairman.
- Board adopted a stock repurchase plan up to $9M on September 13, 2022; purchases on open market.
- HMCA-managed MRI scan volume totaled 186,448 (+5% YoY); two new scanners added in fiscal 2022, two more planned in fiscal 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/355019/000035501922000050/0000355019-22-000050-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/355019/000035501922000050/fonar_8-k.htm
  HTML page:      https://secwatch.observer/filing/0000355019-22-000050

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