An increase in product sales for its Upright Multi-Position MRI scanner propelled Fonar of Melville, NY, to greater revenues and profit in the first quarter of the company's 2011 fiscal year (end-September 30).
Total net revenues increased 16% to $8.7 million, compared with net revenues of $7.5 million in the first quarter of fiscal 2010. Fonar Upright scanner sales advanced to $2.7 million in the first quarter, compared with $1.6 million in the same quarter a year ago.
The company also turned a profit of $385,000, compared with a net loss of $1.7 million in last fiscal year's first quarter.
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Fonar grows revenue in Q1, November 24, 2009
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