MRI vendor Fonar of Melville, NY, attributes a slowdown in capital equipment purchases for a decline in revenues in its second quarter (end-December 31) of fiscal 2007.
Revenue totaled $7.7 million, down 27% compared with $10.5 million in the second quarter of fiscal year 2006. Product sale revenues were $2.1 million, down from $4.2 million a year earlier. The net loss for the second quarter was $5.5 million, compared with a net loss of $5.4 million in the same quarter a year ago.
For the six-month period, revenues decreased to $15.4 million, down 26% compared with $20.7 million in the same period of fiscal year 2006. The company's net loss was $11.6 million, compared with a net loss of $13.7 million in the same period a year ago.
By AuntMinnie.com staff writers
February 9, 2007
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