FONAR Corp Q3 Earnings Decline
Ticker: FONR · Form: 8-K · Filed: May 16, 2024 · CIK: 355019
Sentiment: bearish
Topics: financials, earnings-report
TL;DR
FONAR's Q3 revenue down to $37.6M, net income $5.1M. Watch for recovery.
AI Summary
FONAR Corporation reported its financial results for the third quarter ended March 31, 2024. The company's total revenues for the nine months ended March 31, 2024, were $37.6 million, a decrease from $41.1 million in the same period last year. Net income for the nine months was $5.1 million, down from $7.0 million in the prior year.
Why It Matters
The filing indicates a decrease in revenue and net income for FONAR Corporation, suggesting potential challenges in sales or operational efficiency during the reported period.
Risk Assessment
Risk Level: medium — The decline in revenue and net income suggests potential headwinds for the company, warranting closer monitoring.
Key Numbers
- $37.6M — Nine-Month Revenue (Decrease from $41.1M in the prior year period.)
- $5.1M — Nine-Month Net Income (Decrease from $7.0M in the prior year period.)
Key Players & Entities
- FONAR CORPORATION (company) — Registrant
- March 31, 2024 (date) — End of reporting period
- $37.6 million (dollar_amount) — Total revenues for the nine months ended March 31, 2024
- $41.1 million (dollar_amount) — Total revenues for the nine months ended March 31, 2023
- $5.1 million (dollar_amount) — Net income for the nine months ended March 31, 2024
- $7.0 million (dollar_amount) — Net income for the nine months ended March 31, 2023
FAQ
What were FONAR Corporation's total revenues for the nine months ended March 31, 2024?
FONAR Corporation's total revenues for the nine months ended March 31, 2024, were $37.6 million.
How does the nine-month revenue for the period ending March 31, 2024, compare to the same period in the previous year?
The total revenues for the nine months ended March 31, 2024, were $37.6 million, a decrease from $41.1 million in the same period last year.
What was FONAR Corporation's net income for the nine months ended March 31, 2024?
FONAR Corporation's net income for the nine months ended March 31, 2024, was $5.1 million.
How does the nine-month net income for the period ending March 31, 2024, compare to the same period in the previous year?
The net income for the nine months ended March 31, 2024, was $5.1 million, down from $7.0 million in the prior year.
What is the fiscal year end for FONAR Corporation?
FONAR Corporation's fiscal year ends on June 30.
Filing Stats: 399 words · 2 min read · ~1 pages · Grade level 9.9 · Accepted 2024-05-16 15:00:57
Filing Documents
- fonar_8-k.htm (8-K) — 27KB
- fonar_exhibit-99.htm (EX-99) — 417KB
- fonar_logo.jpg (GRAPHIC) — 14KB
- fonar_patent832-figure2.jpg (GRAPHIC) — 557KB
- 0000355019-24-000024.txt ( ) — 1444KB
- fonr-20230630.xsd (EX-101.SCH) — 3KB
- fonr-20230630_lab.xml (EX-101.LAB) — 33KB
- fonr-20230630_pre.xml (EX-101.PRE) — 22KB
- fonar_8-k_htm.xml (XML) — 4KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. FONAR CORPORATION (Registrant) ------------------------------------------- By /s/ Timothy R. Damadian Timothy R. Damadian President and CEO Dated: May 16, 2024