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Fonar returns to profitability in third quarter
MRI vendor Fonar is back in the black for the first time sinceMarch 1994. The Melville, NY, company posted financial resultsfor its third fiscal quarter (end-March) that show net incomeof $1.9 million, compared with a net loss of $903,000 in the
MRI vendor Fonar is back in the black for the first time sinceMarch 1994. The Melville, NY, company posted financial resultsfor its third fiscal quarter (end-March) that show net incomeof $1.9 million, compared with a net loss of $903,000 in the sameperiod last year. The growth in profits came as Fonar's revenuesslipped to $3 million in the most recent quarter, compared with$3.2 million in the third quarter of 1995.
Fonar did not indicate how it was able to record such a rapidprofit turnaround on lower sales. It is possible that the companyis enjoying the benefits of payments related to MRI patent litigationit has settled with Hitachi and Philips, but Fonar declined tostate whether it received any such payments in its most recentquarter.
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