MRI vendor Fonar posted strong results for its full year of fiscal 2012 (end-June 30).
For the year, revenues grew 19%, to $39.4 million, compared with $33.1 million in the previous fiscal year. The company reported net income for the year of $6.9 million, which more than doubled the $3.3 million reported in fiscal 2011.
Fonar said that sales in its MRI scanner segment grew 5% to $18.7 million for the year, while sales in its Health Management Corporation of America (HMCA) imaging services business grew 35% to $20.7 million.
