A decline in product sales adversely affected revenues for MRI vendor Fonar in the second quarter of the company's 2011 fiscal year (end-December 31, 2010).
Total revenues for the second quarter slipped to $8 million, compared with $8.2 million in the second quarter of fiscal 2010. Net income was $1.4 million, compared with a net loss of $1.3 million in last fiscal year's second quarter.
For the six-month period, revenues increased 6% to $16.7 million, compared with $15.7 million in the same period of the last fiscal year. Net income was $1.9 million, compared with a net loss of $2.7 million in the same period of fiscal 2010.
