Earnings Review: FONAR Corporation (NASDAQ: FONR)

FONAR Corporation (NASDAQ-FONR), The Inventor of MR Scanning™, stated recently its fiscal 2018 results.

Net revenues increased by 4% to $81.50M for the fiscal year ended June 30, 2018, as contrast to $78.00M for the fiscal year ended June 30, 2017.

For the year ended June 30, 2018, the revenues from the management of the diagnostic imaging center segment, consisting of patient and management and other fee revenue, and less the provision for bad debt for patient revenue, increased by 7% to $71.70M as contrast to $66.80M one year earlier.

Income from operations increased by 3% to $19.70M for the fiscal year ended June 30, 2018, as contrast to $19.10M for the fiscal year ended June 30, 2017.

Net Income increased by 7% to $25.50M, for the fiscal year ended June 30, 2018, as contrast to $23.70M for the fiscal year ended June 30, 2017. Net income for the year ended June 30, 2018, reflects income tax benefits associated with changes to the net deferred income tax assets of $4.90M and also the benefits associated with an AMT Carryforward Tax Credit of $1.20M, available as a cash refund. These income tax benefits were precipitated in combination by both the Tax Cuts and Jobs Act enacted in December 2017, which reduced the corporate income tax rate from 35% to 21%, effective January 1, 2018, and the continued strength of the business.

Total Costs and Expenses for the fiscal year ending June 30, 2018 increased 5% to $61.80M, as contrast to $58.90M for the fiscal year ended June 30, 2017.

At June 30, 2018, total assets increased by 20% to $118.30M, as contrast to $98.80M at June 30, 2017.

At June 30, 2018, total current assets increased by 26% to $67.10M, as contrast to $53.40M at June 30, 2017.

At June 30, 2018, total liabilities increased by 1% to $16.10M, as contrast to $15.90M at June 30, 2017.

At June 30, 2018, total current liabilities reduced by 2% to $14.60M, as contrast to $14.20M at June 30, 2017.

At June 30, 2018, total cash and cash equivalents increased by 94% to $19.60M, as contrast to $10.10M at June 30, 2017.

At June 30, 2018, working capital increased by 34% to $52.50M, as contrast to $39.20M at June 30, 2017.

At June 30, 2018, FONAR Stockholder’s Equity increased by 27% to $98.70M, as contrast to $77.40M at June 30, 2017.

FONR has a market value of $145.52M while its EPS was booked as $2.87 in the last 12 months. The stock has 6.74M shares outstanding. In the profitability analysis, the company has gross profit margin of 49.00% while net profit margin was 23.60%. Beta value of the company was 1.09; beta is used to measure riskiness of the security.

Alfred Jensen

Alfred Jensen focuses on breaking news stories and ensuring we offer timely reporting on some of the most recent stories released through market wires about Healthcare Sector companies. He has formerly spent over 5 years as a trader in U.S. Stock Market and is now semi-stepped down. He works on a full time basis for nasdaqjournal.com specializing in quicker moving active shares with a short term view on investment opportunities and trends.

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