Revenue Update on Fonar Corporation(NASDAQ:FONR)

Fonar Corporation(NASDAQ:FONR) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during Pre-market on Sep 19, 2016. Earnings per share were $0.96.

Fonar Corporation (FONR) made into the market gainers list on Thursdays trading session with the shares advancing 0.34% or 0.07 points. Due to strong positive momentum, the stock ended at $20.87, which is also near the day’s high of $20.97. The stock began the session at $20.64 and the volume stood at 36,707 shares. The 52-week high of the shares is $23.9 and the 52 week low is $12.18. The company has a current market capitalization of $129 M and it has 61,78,490 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Jun 20, 2016, Raymond V Damadian (TREASURER) sold 2,700 shares at $19.09 per share price.

Fonar Corporation (Fonar) is engaged in the business of designing manufacturing selling and servicing magnetic resonance imaging (MRI) scanners which utilize MRI technology for the detection and diagnosis of human disease abnormalities other medical conditions and injuries. The Company operates its business through two segments: medical equipment segment and physician management and diagnostic services segment. The Company directly operates the medical equipment segment and the physician management and diagnostic services segment’s operations are conducted through its subsidiary Health Management Corporation of America (HMCA). HMCA provides management services administrative services billing and collection services office space equipment repair maintenance service and clerical and other non-medical personnel to medical providers engaged in diagnostic imaging. The Company’s products include Upright MRI/Stand-Up MRI and Fonar 360.

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