Fonar Corp. (FONR, Financial) filed Quarterly Report for the period ended 2009-03-31.
Fonar Corp. has a market cap of $11.9 million; its shares were traded at around $1.0599 with and P/S ratio of 1.7.
- -
Common Stock, par value $.0001 4,904,275
Class B Common Stock, par value $.0001 158
Class C Common Stock, par value $.0001 382,513
Class A Preferred Stock, par value $.0001 313,451
Interest Expense ( 75) ( 105)
Investment Income 91 156
Interest Income - Related Parties 5 8
Other (Expense) Income ( 17) 1
Minority Interest in Income of Partnerships - ( 34)
Provision for Income Taxes ( 36) -
- -
NET INCOME (LOSS) $ 730 $ ( 2,695)
= =
Net Income (Loss) Available to Common Stockholders $ 686 $ (2,695)
= =
Basic Net Income (Loss) Per Common Share $ 0.14 $ (0.55)
= =
Diluted Net Income (Loss) Per Common Share $ 0.13 $ (0.55)
= =
Basic and Diluted Income Per Share - Common C $ 0.04 -
= =
Weighted Average Basic Shares Outstanding 4,904,275 4,904,261
= =
Weighted Average Diluted Shares Outstanding 5,031,779 4,904,261
= =
Net Income (Loss) Available to Common Stockholders $ 997 $ (6,742)
= =
Basic Net Income (Loss) Per Common Share $ 0.20 $ (1.38)
= =
Diluted Net Income (Loss) Per Common Share $ 0.19 $ (1.38)
= =
Basic and Diluted Income per share - Common C $ 0.05 -
= =
Weighted Average Basic Common Shares Outstanding 4,904,275 4,895,907
= =
Weighted Average Diluted Common Shares Outstanding 5,031,779 4,895,907
= =
At March 31, 2009, the Company had a working capital deficit of approximately
$12.5 million and a stockholders' deficiency of approximately $3.0 million. For
the nine months ended March 31, 2009, the Company generated net income of
approximately $1.1 million, which was due mainly to the improvement in the
Company's operations and a gain of $1.4 million from the sale of a consolidated
subsidiary. The Company has funded its cash flow deficit for the nine months
ended March 31, 2009 through cash provided by the sale of marketable securities
and other assets discussed above. In addition, during June 2008, the Company
implemented a restructuring program, including a reduction of its workforce,
across the board salary reductions, elimination of manufacturing facilities and
restructuring of its diagnostic imaging management service business. Management
estimates that the annualized savings related to these cost-cutting measures
approximates $5,000,000.
Class C
Common Common
Basic Total Stock Stock
- - - -
Numerator:
Net income (loss) available
to common stockholders $ 686 $ 672 $ 14 $ (2,695)
= = = =
Denominator:
Weighted average
shares outstanding 4,904 383 4,904
= = =
Basic income (loss)
per common share $ 0.14 $ 0.04 $ (0.55)
= = =
Class C
Common Common
Basic Total Stock Stock
- - - -
Numerator:
Net income (loss) available
to common stockholders $ 997 $ 977 $ 20 $ (6,742)
= = = =
Denominator:
Weighted average
shares outstanding 4,904 383 4,896
= = =
Basic income (loss)
per common share $ 0.20 $ 0.05 $ (1.38)
= = =
Read the The complete Report
Fonar Corp. has a market cap of $11.9 million; its shares were traded at around $1.0599 with and P/S ratio of 1.7.
Highlight of Business Operations:
Class Outstanding at April 30, 2009- -
Common Stock, par value $.0001 4,904,275
Class B Common Stock, par value $.0001 158
Class C Common Stock, par value $.0001 382,513
Class A Preferred Stock, par value $.0001 313,451
Interest Expense ( 75) ( 105)
Investment Income 91 156
Interest Income - Related Parties 5 8
Other (Expense) Income ( 17) 1
Minority Interest in Income of Partnerships - ( 34)
Provision for Income Taxes ( 36) -
- -
NET INCOME (LOSS) $ 730 $ ( 2,695)
= =
Net Income (Loss) Available to Common Stockholders $ 686 $ (2,695)
= =
Basic Net Income (Loss) Per Common Share $ 0.14 $ (0.55)
= =
Diluted Net Income (Loss) Per Common Share $ 0.13 $ (0.55)
= =
Basic and Diluted Income Per Share - Common C $ 0.04 -
= =
Weighted Average Basic Shares Outstanding 4,904,275 4,904,261
= =
Weighted Average Diluted Shares Outstanding 5,031,779 4,904,261
= =
Net Income (Loss) Available to Common Stockholders $ 997 $ (6,742)
= =
Basic Net Income (Loss) Per Common Share $ 0.20 $ (1.38)
= =
Diluted Net Income (Loss) Per Common Share $ 0.19 $ (1.38)
= =
Basic and Diluted Income per share - Common C $ 0.05 -
= =
Weighted Average Basic Common Shares Outstanding 4,904,275 4,895,907
= =
Weighted Average Diluted Common Shares Outstanding 5,031,779 4,895,907
= =
At March 31, 2009, the Company had a working capital deficit of approximately
$12.5 million and a stockholders' deficiency of approximately $3.0 million. For
the nine months ended March 31, 2009, the Company generated net income of
approximately $1.1 million, which was due mainly to the improvement in the
Company's operations and a gain of $1.4 million from the sale of a consolidated
subsidiary. The Company has funded its cash flow deficit for the nine months
ended March 31, 2009 through cash provided by the sale of marketable securities
and other assets discussed above. In addition, during June 2008, the Company
implemented a restructuring program, including a reduction of its workforce,
across the board salary reductions, elimination of manufacturing facilities and
restructuring of its diagnostic imaging management service business. Management
estimates that the annualized savings related to these cost-cutting measures
approximates $5,000,000.
Class C
Common Common
Basic Total Stock Stock
- - - -
Numerator:
Net income (loss) available
to common stockholders $ 686 $ 672 $ 14 $ (2,695)
= = = =
Denominator:
Weighted average
shares outstanding 4,904 383 4,904
= = =
Basic income (loss)
per common share $ 0.14 $ 0.04 $ (0.55)
= = =
Class C
Common Common
Basic Total Stock Stock
- - - -
Numerator:
Net income (loss) available
to common stockholders $ 997 $ 977 $ 20 $ (6,742)
= = = =
Denominator:
Weighted average
shares outstanding 4,904 383 4,896
= = =
Basic income (loss)
per common share $ 0.20 $ 0.05 $ (1.38)
= = =
Read the The complete Report
