FONAR Announces Fiscal 2013 Year End Results
October 02 2013 - 7:00AM
Marketwired
FONAR Corporation (NASDAQ: FONR)
- Fiscal 2013 net revenues increase 25% over 2012 to $49.1
million
- Fiscal 2013 net income increases 49% over 2012 to $10.3
million
- Diluted Net Income Available to Common Shares for the Fiscal
year ending June 30, 2013 was $1.34, which includes a partial
reversal of the deferred tax valuation allowance of $2.5 million,
or $0.41
- FONAR records fourteenth straight quarter of positive net
income and income from operations
- FONAR added- to the Russell Microcap Index
FONAR Corporation (NASDAQ: FONR), The Inventor of MR Scanning™,
reported its fiscal 2013 results for the year ended June 30, 2013.
The Company's two industry segments are: development, manufacturing
and servicing of the UPRIGHT® Multi-Position™ MRI, and management
of Stand-Up® MRI (UPRIGHT® MRI) centers. The Company is known as
the first Company to invent and manufacture an MRI (Magnetic
Resonance) scanner. Leading the list of FONAR's most recent
patented inventions is its technology enabling full weight-bearing
MRI imaging for the first time on all the gravity sensitive regions
of the human anatomy, e.g. the spine, brain, hip, knee, ankle,
foot, shoulder, and pelvis. The FONAR UPRIGHT® Multi-Position™ MRI
scanner is the world's only MRI scanner licensed under FONAR's
multiple UPRIGHT® MRI patents to scan all the patient's body parts
in their normal fully weight-bearing UPRIGHT® position.
About FONAR
FONAR (NASDAQ: FONR), Melville, NY, The Inventor of MR
Scanning™, was incorporated in 1978, and is the first, oldest and
most experienced MRI company in the industry. FONAR introduced the
world's first commercial MRI in 1980, and went public in 1981.
Since its inception, nearly 300 recumbent-OPEN MRIs and 157
UPRIGHT® Multi-Position™ MRI scanners have been installed
worldwide. FONAR's stellar product is the UPRIGHT® MRI (also known
as the Stand-Up® MRI), the only whole-body MRI that performs
Position™ imaging (pMRI™) and scans patients in numerous
weight-bearing positions, i.e. standing, sitting, in flexion and
extension, as well as the conventional lie-down position. The FONAR
UPRIGHT® MRI often sees the patient's problem that other scanners
cannot because they are lie-down and non "weight-bearing" only. The
patient-friendly UPRIGHT® MRI has a near-zero claustrophobic
rejection rate by patients. As a FONAR customer states, "If the
patient is claustrophobic in this scanner, they'll be
claustrophobic in my parking lot." Approximately 85% of patients
are scanned sitting while they watch a 42" flat screen TV. FONAR is
headquartered on Long Island, New York.
###
UPRIGHT® and STAND-UP® are registered trademarks and The
Inventor of MR Scanning™, Full Range of Motion™, Multi-Position™,
Upright Radiology™, The Proof is in the Picture™, True Flow™,
pMRI™, Spondylography™, Dynamic™, Spondylometry™, CSP™, and
Landscape™, are trademarks of FONAR Corporation.
This release may include forward-looking statements from the
company that may or may not materialize. Additional information on
factors that could potentially affect the company's financial
results may be found in the company's filings with the Securities
and Exchange Commission.
Contact: Daniel Culver Director of Communications E-mail: Email
Contact www.fonar.com
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