MRI vendor Fonar has reported a 15% increase in net income for fiscal 2015 (end-June 30).
The company's net revenues edged up to $69.1 million from $68.5 million in fiscal 2014. Net income increased to $15.4 million, compared with $13.4 million for 2014.
Fonar saw revenues from the management of its diagnostic imaging center segment, consisting of patient and management fee revenue, of $57.6 million, compared with $56.4 million a year ago.
Revenue growth is continuing as Fonar purchases more of the ownership interests of its minority partners, President Dr. Raymond Damadian said in a statement. Scan volume is also steadily increasing at the company's 24 imaging centers.
