Fonar show increases in MRI scanner sales

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Sales of its MRI units powered Fonar Corp. to greater revenues and a lower net loss in its third fiscal quarter, ending March 31.

Revenues advanced to $19.4 million, compared with $9.8 million in the third quarter of FY03. The company also posted a net loss of $1.5 million, compared with a net loss of $6.3 million in the year-ago quarter.

For the nine-month period, revenues reached $50.5 million, compared with $39 million in the same period of FY03. The net loss declined to $8 million, compared with a net loss of $12 million in the year-ago period.

In the third fiscal quarter, overall revenues from MRI product sales increased to $12.2 million, compared with $3.3 million in the year-ago quarter.