Lower total costs and expenses helped MRI firm Fonar of Melville, NY, turn a profit in fiscal year 2009 (end-June 30).
Total revenue increased by 12% to $39.7 million for the fiscal year, compared with $35.6 million for fiscal 2008. Net income totaled $1.1 million, compared with a net loss of $13.5 million in fiscal 2008.
Revenue from product sales of the Fonar Upright MRI scanners increased 48% from $11.2 million in fiscal 2008 to $16.6 million in fiscal 2009.
Fonar also now has recorded a profit for three straight quarters.
Related Reading
Fonar sells 5th Upright to Florida center, June 12, 2009
Fonar takes Libyan order, March 3, 2009
Fonar signs New York imaging chain, January 21, 2009
Fonar rejects takeover bid, posts higher net loss, November 20, 2008
Fonar receives Nasdaq warning, October 17, 2008
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