MRI vendor Fonar reported revenue growth of 31% for the company's third quarter (end-March 30), while the firm's net loss narrowed.
For the period, Fonar posted sales of $25.3 million, compared with sales of $19.3 million in the same period the year before. The Melville, NY, company said that MRI equipment sales grew 43%, with the company's flagship MRI scanner, Upright MRI, contributing sales of $17.2 million.
Fonar posted a net loss of $480,000 for the fiscal third quarter, compared with a net loss of $1.5 million in the third quarter of fiscal 2004. The company said its loss for the current quarter was attributable to expenses in its medical equipment segment related to marketing and customer-relations programs.
For the first nine months of fiscal 2005, Fonar reported sales of $79.9 million, up 59% compared with the comparable year-to-date period in 2004. The company had net income for its most recent period of $1.4 million, compared with a net loss of $8 million in the comparable period a year ago.
By AuntMinnie.com staff writers
May 11, 2005
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Fonar notches profitable Q2, February 9, 2005
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Fonar reports profit for Q1 2005, November 15, 2004
Fonar trims losses for fiscal 2004, September 16, 2004
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