---
schema_version: "secwatch.filing_event.v1"
accession: "0000355019-23-000048"
form_type: "8-K"
ticker: "FONR"
cik: "0000355019"
company_name: "FONAR CORP"
filed_at: "2023-09-29T23:59:59+00:00"
generated_at: "2026-06-10T07:14:10.912371+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# FONAR fiscal 2023 revenue up 1% to $98.6M but net income down 30% to $12.1M; EPS $1.32

## Summary
- Revenue $98.6M (+1% YoY); costs and expenses surged 11% to $83.9M, crushing operating income down 33% to $14.8M.
- Net income $12.1M (-30%); diluted EPS $1.32 (-25%) vs $1.75 prior year.
- MRI scan volume at HMCA sites up 1% to 188,348; two new scanners added in Florida, total managed 41.
- Company adopted $9M stock repurchase plan in Sep 2022; 103,148 shares bought for $1.76M as of Jun 30 2023.
- Founder Raymond Damadian died Aug 2022; son Timothy Damadian elected Chairman; COVID-related technologist shortage impacted early year.

## SEC filing metadata
- accession: 0000355019-23-000048
- form_type: 8-K
- ticker: FONR
- cik: 0000355019
- company_name: FONAR CORP
- filed_at: 2023-09-29T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/355019/000035501923000048/0000355019-23-000048-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/355019/000035501923000048/fonar_8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000355019-23-000048
- JSON: https://secwatch.observer/filing/0000355019-23-000048.json
- Plain text: https://secwatch.observer/filing/0000355019-23-000048.txt

## Key facts
- Earnings Releases
  FONAR CORP reported the fiscal year ended June 30, 2023 results: revenue $98.6 million, net income $12.1 million, EPS $1.32.
  - Period: the fiscal year ended June 30, 2023
  - Revenue: $98.6 million
  - Net income: $12.1 million
  - EPS: $1.32
  - Result: reported results
  source text: Total Revenues-Net increased by 1% to $98.6 million for the fiscal year ended June 30, 2023 versus the previous fiscal year.
  evidence_url: https://www.sec.gov/Archives/edgar/data/355019/000035501923000048/0000355019-23-000048-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.