Fonar Announces Fiscal 2025 Financial Results for 3rd Quarter and Nine-Month Period

Core Viewpoint - FONAR Corporation reported its financial results for the third quarter and nine-month period of fiscal 2025, highlighting growth in revenues but a decline in income from operations and net income for the nine-month period compared to the previous year [2][3][7]. Financial Performance - Total Revenues-Net for the quarter ended March 31, 2025, increased by 6% to $27.2 million compared to$25.7 million for the same quarter in 2024 [3][10]. - Total Revenues-Net for the nine-month period ended March 31, 2025, was $77.1 million, slightly up from$76.9 million for the same period in 2024 [3][50]. - Income From Operations for the quarter decreased by 2% to $3.66 million compared to$3.75 million for the same quarter in 2024 [6][10]. - Income From Operations for the nine-month period decreased by 30% to $10.7 million compared to$15.2 million for the same period in 2024 [6][50]. - Net Income for the quarter increased by 24% to $3.1 million compared to$2.5 million for the same quarter in 2024 [7][10]. - Net Income for the nine-month period decreased by 25% to $9.3 million compared to$12.5 million for the same period in 2024 [7][11]. Cost Analysis - Selling, general & administrative costs (SG&A) increased by 5% to $8.0 million for the quarter compared to$7.6 million in the same quarter of 2024 [4][10]. - SG&A costs increased by 11% to $20.1 million for the nine-month period compared to$18.0 million for the same period in 2024 [4][50]. - Total Costs and Expenses for the quarter were $23.5 million, up from$22.0 million in the same quarter of 2024 [5][10]. - Total Costs and Expenses for the nine-month period were $66.4 million compared to$61.7 million for the same period in 2024 [5][50]. Balance Sheet Highlights - Total Cash, Cash Equivalents, and Short-Term Investments decreased by 4% to $54.4 million as of March 31, 2025, compared to$56.5 million at June 30, 2024 [10][12]. - Total Current Assets increased to $141.1 million as of March 31, 2025, compared to$140.3 million at June 30, 2024 [12]. - Total Assets increased to $214.9 million as of March 31, 2025, compared to$214.2 million at June 30, 2024 [12][13]. - Total Current Liabilities decreased to $14.0 million as of March 31, 2025, compared to$17.9 million at June 30, 2024 [12][13]. Operational Achievements - The Health Management Company of America (HMCA) set a new record by completing 54,612 MRI scans in the third quarter of Fiscal 2025, which was 2.8% higher than the previous quarter and 3.4% higher than the same quarter in Fiscal 2024 [16]. - HMCA managed 44 MRI scanners, with plans to add more facilities to expand its network in New York and Florida [16][17]. Shareholder Actions - As of March 31, 2025, FONAR repurchased 373,942 shares at a cost of $6.07 million as part of its stock repurchase plan announced in September 2022 [17].