FONAR Q2 net income falls 45%; revenue down 1% to $24.3M

FONAR CORP

2023-Q2 EPS reported $0.60 revenue$47,447,000

Q2 revenue $24.3M (-1% YoY); six-month revenue $47.4M (-2% YoY).
Q2 net income $2.8M (-45%); diluted EPS $0.32 (-44%).
Income from operations Q2 $4.2M (-35%); six-month $8.1M (-33%).
MRI scan volume at HMCA-managed sites 89,888 (-5%); SG&A up 31% to $12.9M.
Cash and investments $49.5M; book value per share $22.25 (+4%); repurchased 53,607 shares for $922,593.

item 2.02

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

FONAR CORP reported for the fiscal 2023 six month period ended December 31, 2022 and quarter ended December 31, 2022 results: revenue $47.4 million for the six months ended December 31, 2022; $24.3 million for the quarter ended December 31, 2022, net income $5.5 million for the six months ended December 31, 2022; $2.8 million for the quarter ended December 31, 2022, EPS $0.60 per diluted share for the six months ended December 31, 2022; $0.32 per diluted share for the quarter ended Decemb.

Period: for the fiscal 2023 six month period ended December 31, 2022 and quarter ended December 31, 2022
Revenue: $47.4 million for the six months ended December 31, 2022; $24.3 million for the quarter ended December 31, 2022
Net income: $5.5 million for the six months ended December 31, 2022; $2.8 million for the quarter ended December 31, 2022
EPS: $0.60 per diluted share for the six months ended December 31, 2022; $0.32 per diluted share for the quarter ended Decemb
Result: reported results

Exact text from the filing

FONAR Corporation (NASDAQ-FONR), The Inventor of MR ScanningTM, reported today its financial results for the fiscal 2023 six month period and quarter ended December 31, 2022.

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Source: SEC EDGAR

accession 0000355019-23-000009

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