Fonar back on Nasdaq

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Fonar Corporation has received notice from NASDAQ that it has found the company to be in full compliance with its listing requirements and has restored Fonar’s trading symbol (FONR).

This re-listing follows a reverse stock split the company undertook in April for a period of approximately 20 trading days, undertaken to cure a bid price deficiency and allow the company to maintain compliance for the longer term.

Fonar also announced Q3 2007 financial results for fiscal 2007, during which the company showed a loss. For the nine-month period ended March 31, 2007, the company reported a net loss of $17 million on revenues of $24.2 million as compared to net loss of $21.0 million on revenues of $27.8 million for the nine-month period ended March 31, 2006.

For Q3 2007 we reported a net loss of $5.4 million on revenues of $8.8 million as compared to net loss of $7.4 million on revenues of $7.1 million Q3 2006.