MRI vendor Fonar reported a net loss of $9.5 million on revenues of $71.6 million for fiscal 2004 (end-June 30), as compared to a net loss of $15 million on revenues of $52.9 million for fiscal 2003, an increase of 35% in revenues and a decrease in the net loss of 37% year-over-year.
Revenues from product sales more than doubled, increasing by 72% from $24.9 million in fiscal 2003 to $43 million in fiscal 2004. Revenues attributable to the firm's medical equipment segment increased by 62% to $48.6 million in fiscal 2004 from $30 million in fiscal 2003, according to the Melville, NY-based company.
Fonar also reported that its consolidated operating loss decreased by 44% to $8.5 million for fiscal 2004, as compared to an operating loss of $15.1 million for fiscal 2003.
By AuntMinnie.com staff writers
September 16, 2004
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