Fonar reported an increase in revenues and a decrease in losses for its financial results for the second quarter of fiscal 2008, which ended Dec. 31, 2007.

For the quarter, the Melville, N.Y.-based company reported an increase in total revenues of 39.2 percent to $10.7 million, compared to $7.7 million for the same period last year.

Fonar also reported that product sales increased 92.1 percent to $4 million from $2.1 million in the year-ago quarter.

The company also reported a 29.8 percent decrease in net loss to $3.8 million, compared to a net loss of $5.5 million during the same period last year.