Fonar Corporation (FONR) financial statements (2022 and earlier)

Company profile

Business Address 110 MARCUS DR
MELVILLE, NY 11747
State of Incorp. DE
Fiscal Year End June 30
SIC 3845 - Electromedical and Electrotherapeutic Apparatus (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2021
TTM
6/30/2021
6/30/2020
6/30/2019
6/30/2018
6/30/2017
6/30/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments44,88344,49336,83428,97719,63410,1408,528
Cash and cash equivalents44,85144,46036,80213,88219,63410,1408,528
Short-term investments32323215,095   
Receivables  671  4545
Costs in excess of billings 1,031894
Deferred tax assets20,69422,45017,53013,042
Other undisclosed current assets66,71864,09158,38435,41724,98124,66823,049
Total current assets:111,601108,58395,89085,08967,06553,41445,560
Noncurrent Assets
Finance lease, right-of-use asset1,0281,1271,326
Operating lease, right-of-use asset34,76730,13331,392
Property, plant and equipment21,81921,85021,36416,98616,49216,46314,513
Long-term investments and receivables2,2902,8012,656    
Accounts and financing receivable, after allowance for credit loss2,2902,8012,656    
Intangible assets, net (including goodwill)8,1248,3078,0958,7419,58710,57211,042
Goodwill4,2694,2693,9853,9853,9853,9273,322
Intangible assets, net (excluding goodwill)3,8554,0384,1094,7565,6026,6457,719
Deferred costs      (482)
Other undisclosed noncurrent assets14,10116,70519,537    
Total noncurrent assets:82,12980,92384,37025,72726,07927,03425,072
TOTAL ASSETS:193,730189,506180,259110,81593,14480,44870,632
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:7751,8661,965861753273963
Accounts payable7751,8661,9651,8611,3001,4231,254
Accrued liabilities   271264441930
Employee-related liabilities   3,8983,4381,1393,189
Taxes payable   1,6712,0922,2822,402
Other undisclosed accounts payable and accrued liabilities   (6,840)(6,342)(5,011)(6,813)
Deferred revenue3,9714,3664,105
Debt3917310841381802,448
Deferred revenue and credits4,1924,6424,679
Billings in excess of cost  207
Customer advances and deposits8587881,199
Other liabilities4,6179,1628,1857,5778,1787,20310,827
Other undisclosed current liabilities4,3224,4824,2995,6115481,150292
Total current liabilities:13,72420,04918,66314,09014,56714,23620,613
Noncurrent Liabilities
Long-term debt and lease obligation, including:1807608652733063372,059
Finance lease, liability9441,0481,251
Operating lease, liability33,68128,97530,104
Other undisclosed long-term debt and lease obligation(34,445)(29,263)(30,490)2733063372,059
Liabilities, other than long-term debt2,4883,3863,626932282282,732
Accounts payable and accrued liabilities105493878   2,487
Deferred revenue2,2902,8012,656
Due to related parties93939393228228245
Other undisclosed noncurrent liabilities34,89629,94030,8629929761,052(1,293)
Total noncurrent liabilities:37,56434,08735,3541,3581,5101,6173,498
Total liabilities:51,28854,13654,01715,44816,07615,85324,111
Stockholders' equity
Stockholders' equity attributable to parent, including:145,756138,419126,187115,95698,68477,45360,776
Common stock1      
Treasury stock, value(675)(675)(675)    
Additional paid in capital184,531185,101183,077181,087179,132179,132173,702
Deferred employee stock ownership plan, issuance of shares or sale of treasury shares   (675)(675)(675)(675)
Accumulated deficit(38,101)(46,008)(56,215)(64,455)(79,773)(101,003)(120,624)
Other undisclosed stockholders' equity attributable to parent 111  8,373
Stockholders' equity attributable to noncontrolling interest(3,314)(3,049)552,1563,5595,4738,397
Other undisclosed stockholders' equity    (9)(16)(8,397)
Total stockholders' equity:142,442135,370126,242118,112102,23482,91060,776
TOTAL LIABILITIES AND EQUITY:193,730189,506180,259133,560118,31198,76384,888

Income statement (P&L) ($ in thousands)

12/31/2021
TTM
6/30/2021
6/30/2020
6/30/2019
6/30/2018
6/30/2017
6/30/2016
Revenues137,70189,93085,69087,1939011,2002,140
Revenue, net81,51678,03773,368
Cost of revenue(45,090)(42,374)(39,388)(40,148)(55,947)(50,690)(35,895)
Cost of goods and services sold (2,051)(1,870)(1,557)(28,202)(25,881)(26,476)
Other cost of operating revenue(9,307)(10,918)(10,880)(10,789)(10,257)(8,988)(9,419)
Gross profit:92,61047,55546,30247,045(55,046)(49,490)(33,755)
Operating expenses(30,715)(30,458)(32,651)(24,911)(5,884)(8,250)(23,430)
Operating income (loss):61,89617,09813,65122,134(60,931)(57,741)(57,185)
Nonoperating income1,750816573484258192415
Investment income, nonoperating248312502483263193224
Other nonoperating income (expense)1,502504711(4)(1)191
Interest and debt expense(251)(249)(74)99160(28)262
Income (loss) from continuing operations before equity method investments, income taxes:63,39517,66514,15022,716(60,512)(57,577)(56,508)
Other undisclosed income (loss) from continuing operations before income taxes(41,706)  (197)80,29576,89371,016
Income from continuing operations before income taxes:21,68917,66514,15022,51919,78219,31614,508
Income tax expense (benefit)(4,876)(3,992)(2,445)(2,006)5,670(4,362)4,287
Income before gain (loss) on sale of properties:16,81413,67411,70520,51425,45214,95418,796
Other undisclosed net income     8,725 
Net income:16,81413,67411,70520,51425,45223,67918,796
Net income (loss) attributable to noncontrolling interest(7,438)(3,466)(3,465)5,1974,2214,0583,071
Other undisclosed net income (loss) attributable to parent3,120  (10,393)(8,443)(8,116)(6,142)
Net income available to common stockholders, diluted:12,49610,2088,24015,31721,23119,62115,725

Comprehensive Income ($ in thousands)

12/31/2021
TTM
6/30/2021
6/30/2020
6/30/2019
6/30/2018
6/30/2017
6/30/2016
Net income:16,81413,67411,70520,51425,45223,67918,796
Comprehensive income:16,81413,67411,70520,51425,45223,67918,796
Comprehensive income (loss), net of tax, attributable to noncontrolling interest(7,438)(3,466)(3,465)5,1974,2214,0583,071
Comprehensive income, net of tax, attributable to parent:9,37610,2088,24025,71029,67427,73721,866

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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