FONAR Q2 net income drops 48% to $2.4M; revenue down 2% to $25.0M

FONAR CORP

Diluted EPS fell 44% to $0.30 vs $0.54 in Q2 FY2024; operating income down 48% to $2.6M.
SG&A rose 24% to $6.9M, partly due to reserve against American Transit Insurance Co. receivables.
HMCA-managed MRI scan volume up 3.65% YoY to 53,114 in Q2; managed sites volume up 7% in H1.
Cash and investments decreased 5% to $53.7M from June 30, 2024; net book value per share $25.66.
As of Dec 31, 2024, company repurchased 343,485 shares for $5.6M under $9M buyback plan.

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