2018 Form 10-K Financial Statement

#000035501918000039 Filed on September 21, 2018

View on sec.gov

Income Statement

Concept 2018 2017 Q2 2017
Revenue $81.52M $20.89M $78.04M
YoY Change 4.46% 11.29% 3546.57%
Cost Of Revenue $751.2K $9.990M $931.5K
YoY Change -19.35% 4.28% -25.74%
Gross Profit $80.76M $10.90M $77.11M
YoY Change 4.75% 18.61% 8605.83%
Gross Profit Margin 99.08% 52.18% 98.81%
Selling, General & Admin $18.13M $6.790M $19.41M
YoY Change -6.61% 6.43% 4.85%
% of Gross Profit 22.44% 62.29% 25.17%
Research & Development $1.756M $380.0K $1.481M
YoY Change 18.58% -2.56% -9.26%
% of Gross Profit 2.17% 3.49% 1.92%
Depreciation & Amortization $3.900M $940.0K $3.534M
YoY Change 10.37% 18.99% 7.17%
% of Gross Profit 4.83% 8.62% 4.58%
Operating Expenses $19.88M $7.170M $20.89M
YoY Change -4.82% 5.91% 3.71%
Operating Profit $60.88M $3.730M $56.22M
YoY Change 8.3% 54.13% -391.95%
Interest Expense -$160.1K $320.0K $28.30K
YoY Change -665.65% 52.38% -110.79%
% of Operating Profit -0.26% 8.58% 0.05%
Other Income/Expense, Net -$4.271K $0.00 -$1.156K
YoY Change 269.46% -100.0% -100.61%
Pretax Income $19.78M $4.050M $19.32M
YoY Change 2.41% 43.62% 33.14%
Income Tax -$5.670M -$3.070M -$4.362M
% Of Pretax Income -28.66% -75.8% -22.58%
Net Earnings $21.23M $5.910M $19.62M
YoY Change 8.21% -7.08% 24.78%
Net Earnings / Revenue 26.04% 28.29% 25.14%
Basic Earnings Per Share
Diluted Earnings Per Share $3.118M $879.5K $2.925M
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2018 2017 Q2 2017
SHORT-TERM ASSETS
Cash & Short-Term Investments $19.60M $10.10M $10.10M
YoY Change 94.06% 18.82% 18.82%
Cash & Equivalents $19.60M $10.14M $10.10M
Short-Term Investments
Other Short-Term Assets $1.300M $1.300M $1.300M
YoY Change 0.0% 62.5% 62.5%
Inventory $1.500M $2.400M $2.400M
Prepaid Expenses
Receivables $44.60M $39.60M $39.60M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $67.10M $53.41M $53.40M
YoY Change 25.66% 17.24% 17.11%
LONG-TERM ASSETS
Property, Plant & Equipment $16.50M $16.46M $16.50M
YoY Change 0.0% 13.44% 13.79%
Goodwill $3.927M
YoY Change 18.21%
Intangibles $6.645M
YoY Change -13.92%
Long-Term Investments
YoY Change
Other Assets $24.00M $18.30M $18.30M
YoY Change 31.15% 32.61% 32.61%
Total Long-Term Assets $51.20M $45.39M $45.40M
YoY Change 12.78% 15.37% 15.52%
TOTAL ASSETS
Total Short-Term Assets $67.10M $53.41M $53.40M
Total Long-Term Assets $51.20M $45.39M $45.40M
Total Assets $118.3M $98.80M $98.80M
YoY Change 19.74% 16.37% 16.37%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.300M $1.423M $1.400M
YoY Change -7.14% 13.45% 7.69%
Accrued Expenses $7.400M $6.400M $6.400M
YoY Change 15.63% -31.18% -31.18%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $516.9K $200.0K
YoY Change -100.0% -88.53% -91.67%
Total Short-Term Liabilities $14.60M $14.24M $14.20M
YoY Change 2.82% -30.94% -31.07%
LONG-TERM LIABILITIES
Long-Term Debt $300.0K $300.0K $300.0K
YoY Change 0.0% -85.71% -85.71%
Other Long-Term Liabilities $1.000M $900.0K $900.0K
YoY Change 11.11% -10.0% -10.0%
Total Long-Term Liabilities $1.300M $1.617M $1.200M
YoY Change 8.33% -53.79% -61.29%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.60M $14.24M $14.20M
Total Long-Term Liabilities $1.300M $1.617M $1.200M
Total Liabilities $19.60M $15.85M $21.30M
YoY Change -7.98% -34.25% -34.46%
SHAREHOLDERS EQUITY
Retained Earnings -$101.0M
YoY Change -16.27%
Common Stock $179.1M
YoY Change 3.13%
Preferred Stock
YoY Change
Treasury Stock (at cost) -$675.0K
YoY Change 0.0%
Treasury Stock Shares
Shareholders Equity $98.70M $82.91M $77.40M
YoY Change
Total Liabilities & Shareholders Equity $118.3M $98.76M $98.80M
YoY Change 19.74% 16.35% 16.37%

Cashflow Statement

Concept 2018 2017 Q2 2017
OPERATING ACTIVITIES
Net Income $21.23M $5.910M $19.62M
YoY Change 8.21% -7.08% 24.78%
Depreciation, Depletion And Amortization $3.900M $940.0K $3.534M
YoY Change 10.37% 18.99% 7.17%
Cash From Operating Activities $18.74M $7.380M $16.81M
YoY Change 11.5% 16.77% 1.14%
INVESTING ACTIVITIES
Capital Expenditures -$2.778M -$1.110M -$2.851M
YoY Change -2.57% 382.61% 300.32%
Acquisitions
YoY Change
Other Investing Activities -$60.00K -$1.310M -$1.310M
YoY Change -95.42% -68.96% -68.96%
Cash From Investing Activities -$2.945M -$2.420M -$4.319M
YoY Change -31.81% -45.62% -14.45%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$6.300M -2.570M -$10.88M
YoY Change -42.08% -60.4% -12.91%
NET CHANGE
Cash From Operating Activities $18.74M 7.380M $16.81M
Cash From Investing Activities -$2.945M -2.420M -$4.319M
Cash From Financing Activities -$6.300M -2.570M -$10.88M
Net Change In Cash $9.494M 2.390M $1.611M
YoY Change 489.22% -151.73% -275.05%
FREE CASH FLOW
Cash From Operating Activities $18.74M $7.380M $16.81M
Capital Expenditures -$2.778M -$1.110M -$2.851M
Free Cash Flow $21.52M $8.490M $19.66M
YoY Change 9.46% 29.62% 13.44%

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FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
783072 usd
CY2018Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
393102 usd
CY2018Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
391713 usd
CY2018Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
387103 usd
CY2018Q2 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
2666382 usd
CY2017Q2 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
180090 usd
CY2018Q2 us-gaap Long Term Debt And Capital Lease Obligations Current
LongTermDebtAndCapitalLeaseObligationsCurrent
38332 usd
CY2017Q2 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
336761 usd
CY2018Q2 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
306035 usd
CY2017 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-4362434 usd
CY2018 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-5669750 usd
CY2016 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-4287271 usd
CY2017 FONR Foreign Product Sales
ForeignProductSales
0.559 pure
CY2018 FONR Foreign Product Sales
ForeignProductSales
0.415 pure
CY2016 FONR Foreign Product Sales
ForeignProductSales
0.196 pure
CY2017 us-gaap Advertising Expense
AdvertisingExpense
531000 usd
CY2018 us-gaap Advertising Expense
AdvertisingExpense
607000 usd
CY2016 us-gaap Advertising Expense
AdvertisingExpense
535000 usd
CY2017 us-gaap Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
8224 usd
CY2018 us-gaap Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
9370 usd
CY2016 us-gaap Shipping Handling And Transportation Costs
ShippingHandlingAndTransportationCosts
11077 usd
CY2018Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2018Q2 us-gaap Cash
Cash
17478000 usd
CY2018Q2 us-gaap Accounts Payable Related Parties Noncurrent
AccountsPayableRelatedPartiesNoncurrent
227543 usd
CY2017 FONR Net Revenues From Related Parties As Percentage Of Consolidated Net Revenues
NetRevenuesFromRelatedPartiesAsPercentageOfConsolidatedNetRevenues
0.11 pure
CY2018 FONR Net Revenues From Related Parties As Percentage Of Consolidated Net Revenues
NetRevenuesFromRelatedPartiesAsPercentageOfConsolidatedNetRevenues
0.11 pure
CY2016 FONR Net Revenues From Related Parties As Percentage Of Consolidated Net Revenues
NetRevenuesFromRelatedPartiesAsPercentageOfConsolidatedNetRevenues
0.1 pure
CY2017 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350 pure
CY2018 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.277 pure
CY2016 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.350 pure
CY2017 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.040 pure
CY2018 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.040 pure
CY2016 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.060 pure
CY2017 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.001 pure
CY2018 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.001 pure
CY2016 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.002 pure
CY2017 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
-0.730 pure
CY2018 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
-0.245 pure
CY2016 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
-0.898 pure
CY2017 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.289 pure
CY2018 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.379 pure
CY2016 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.486 pure
CY2017 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
4505000 usd
CY2018 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
4762000 usd
CY2016 us-gaap Lease And Rental Expense
LeaseAndRentalExpense
4222000 usd
CY2017Q2 FONR Net Operating Carryforwards
NetOperatingCarryforwards
39330708 usd
CY2018Q2 FONR Net Operating Carryforwards
NetOperatingCarryforwards
20665597 usd
CY2018Q2 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal After Year Five
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalAfterYearFive
158842 usd
CY2018Q2 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Three
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearThree
35416 usd
CY2018Q2 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Four
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearFour
38013 usd
CY2018Q2 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Five
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearFive
40820 usd
CY2018Q2 us-gaap Long Term Debt And Capital Lease Obligations Including Current Maturities
LongTermDebtAndCapitalLeaseObligationsIncludingCurrentMaturities
344367 usd
CY2017Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
516851 usd
CY2018Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
344367 usd
CY2010Q3 FONR Shares Registered Under Form S8
SharesRegisteredUnderFormS8
2000000 shares
CY2011Q2 FONR Private Placement Of Equity
PrivatePlacementOfEquity
6000000 usd
CY2015Q2 us-gaap Preferred Stock Redemption Amount
PreferredStockRedemptionAmount
1125100 usd
CY2014Q2 us-gaap Preferred Stock Redemption Amount
PreferredStockRedemptionAmount
1125100 usd
CY2016Q2 us-gaap Preferred Stock Redemption Amount
PreferredStockRedemptionAmount
1125100 usd
CY2017Q2 us-gaap Liability For Claims And Claims Adjustment Expense Disability Accident And Health
LiabilityForClaimsAndClaimsAdjustmentExpenseDisabilityAccidentAndHealth
92000 usd
CY2018Q2 us-gaap Liability For Claims And Claims Adjustment Expense Disability Accident And Health
LiabilityForClaimsAndClaimsAdjustmentExpenseDisabilityAccidentAndHealth
79000 usd
CY2017 FONR Net Management Fee Receivables From Related Medical Practices Of Consolidated Accounts Receivable
NetManagementFeeReceivablesFromRelatedMedicalPracticesOfConsolidatedAccountsReceivable
0.13 pure
CY2018 FONR Net Management Fee Receivables From Related Medical Practices Of Consolidated Accounts Receivable
NetManagementFeeReceivablesFromRelatedMedicalPracticesOfConsolidatedAccountsReceivable
0.12 pure
CY2016 FONR Net Management Fee Receivables From Related Medical Practices Of Consolidated Accounts Receivable
NetManagementFeeReceivablesFromRelatedMedicalPracticesOfConsolidatedAccountsReceivable
0.12 pure
CY2010Q2 FONR Shares Reserved For2010 Stock Bonus Plan
SharesReservedFor2010StockBonusPlan
2000000 shares
CY2017Q2 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
17861777 usd
CY2018Q2 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
22689011 usd
CY2017Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
6644504 usd
CY2018Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
5601656 usd
CY2017Q2 us-gaap Accounts Payable Related Parties Noncurrent
AccountsPayableRelatedPartiesNoncurrent
227543 usd
CY2017Q2 us-gaap Notes Receivable Fair Value Disclosure
NotesReceivableFairValueDisclosure
-16546 usd
CY2018Q2 us-gaap Notes Receivable Fair Value Disclosure
NotesReceivableFairValueDisclosure
-9213 usd
CY2017Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest Adjusted Balance1
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1
82909953 usd
CY2018Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest Adjusted Balance1
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterestAdjustedBalance1
102234471 usd
CY2017 FONR Service And Repair Fees Related Parties Net
ServiceAndRepairFeesRelatedPartiesNet
110000 usd
CY2018 FONR Service And Repair Fees Related Parties Net
ServiceAndRepairFeesRelatedPartiesNet
110000 usd
CY2016 FONR Service And Repair Fees Related Parties Net
ServiceAndRepairFeesRelatedPartiesNet
110000 usd
CY2017 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
8987673 usd
CY2018 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
10256951 usd
CY2016 us-gaap Other Cost Of Operating Revenue
OtherCostOfOperatingRevenue
9418935 usd
CY2017Q2 us-gaap Stockholders Equity Attributable To Parent Not Allowable For Net Capital
StockholdersEquityAttributableToParentNotAllowableForNetCapital
77437154 usd
CY2018Q2 us-gaap Stockholders Equity Attributable To Parent Not Allowable For Net Capital
StockholdersEquityAttributableToParentNotAllowableForNetCapital
98675289 usd
CY2017 FONR Percentage Of Pcs Net Revenue Derived From Nofault And Personal Injury Protection Claims
PercentageOfPcsNetRevenueDerivedFromNofaultAndPersonalInjuryProtectionClaims
0.62 pure
CY2018 FONR Percentage Of Pcs Net Revenue Derived From Nofault And Personal Injury Protection Claims
PercentageOfPcsNetRevenueDerivedFromNofaultAndPersonalInjuryProtectionClaims
0.65 pure
CY2016 FONR Percentage Of Pcs Net Revenue Derived From Nofault And Personal Injury Protection Claims
PercentageOfPcsNetRevenueDerivedFromNofaultAndPersonalInjuryProtectionClaims
0.59 pure
CY2017 FONR Percentage Of Consolidated Net Revenue From Management Fees
PercentageOfConsolidatedNetRevenueFromManagementFees
0.11 pure
CY2018 FONR Percentage Of Consolidated Net Revenue From Management Fees
PercentageOfConsolidatedNetRevenueFromManagementFees
0.11 pure
CY2016 FONR Percentage Of Consolidated Net Revenue From Management Fees
PercentageOfConsolidatedNetRevenueFromManagementFees
0.1 pure
FONR Property Tax Abatement From Suffolk County Ida
PropertyTaxAbatementFromSuffolkCountyIda
0.5 pure
FONR Property Tax Abatement
PropertyTaxAbatement
440000 usd
CY2017 us-gaap Interest Paid
InterestPaid
162022 usd
CY2018 us-gaap Interest Paid
InterestPaid
44767 usd
CY2016 us-gaap Interest Paid
InterestPaid
356106 usd
CY2017 us-gaap Income Taxes Paid
IncomeTaxesPaid
739889 usd
CY2018 us-gaap Income Taxes Paid
IncomeTaxesPaid
345000 usd
CY2016 us-gaap Income Taxes Paid
IncomeTaxesPaid
360496 usd
CY2017 FONR Export Sales Of Medical Equipment
ExportSalesOfMedicalEquipment
0.559 pure
CY2018 FONR Export Sales Of Medical Equipment
ExportSalesOfMedicalEquipment
0.415 pure
CY2016 FONR Export Sales Of Medical Equipment
ExportSalesOfMedicalEquipment
0.196 pure
CY2017 FONR Foreign Revenues Of Service And Repair Of Medical Equipment
ForeignRevenuesOfServiceAndRepairOfMedicalEquipment
0.046 pure
CY2018 FONR Foreign Revenues Of Service And Repair Of Medical Equipment
ForeignRevenuesOfServiceAndRepairOfMedicalEquipment
0.05 pure
CY2016 FONR Foreign Revenues Of Service And Repair Of Medical Equipment
ForeignRevenuesOfServiceAndRepairOfMedicalEquipment
0.058 pure
CY2018Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
980284 usd
CY2017 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-416967 usd
CY2018 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-787160 usd
CY2016 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-278866 usd
CY2017 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-4552702 usd
CY2018 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-4132590 usd
CY2016 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-4368901 usd
CY2017 FONR True Ups
TrueUps
0.050 pure
CY2018 FONR True Ups
TrueUps
-0.028 pure
CY2016 FONR True Ups
TrueUps
0.000 pure
CY2017Q2 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
2341667 usd
CY2018Q2 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
1497429 usd
CY2017Q2 us-gaap Self Insurance Reserve
SelfInsuranceReserve
92397 usd
CY2018Q2 us-gaap Self Insurance Reserve
SelfInsuranceReserve
79129 usd
CY2017Q2 us-gaap Other Liabilities
OtherLiabilities
720779 usd
CY2018Q2 us-gaap Other Liabilities
OtherLiabilities
737183 usd
CY2017 FONR Number Of Shares Upon Conversion Of Class C Common Included In Diluted Eps For Common Shareholders
NumberOfSharesUponConversionOfClassCCommonIncludedInDilutedEpsForCommonShareholders
127504 shares
CY2018 FONR Number Of Shares Upon Conversion Of Class C Common Included In Diluted Eps For Common Shareholders
NumberOfSharesUponConversionOfClassCCommonIncludedInDilutedEpsForCommonShareholders
127504 shares
CY2016 FONR Number Of Shares Upon Conversion Of Class C Common Included In Diluted Eps For Common Shareholders
NumberOfSharesUponConversionOfClassCCommonIncludedInDilutedEpsForCommonShareholders
127504 shares
CY2014Q1 FONR Health Diagnostics Management Hdm Class Outside Investors Members Contribution
HealthDiagnosticsManagementHdmClassOutsideInvestorsMembersContribution
19800000 usd
CY2014Q1 FONR Health Diagnostics Management Hdm Class B Company Members Contribution
HealthDiagnosticsManagementHdmClassBCompanyMembersContribution
20200000 usd
CY2015Q3 FONR Ownership Interest After Reorganization For Health Management Corporation Of America Of Newly Expanded Hdm Percent
OwnershipInterestAfterReorganizationForHealthManagementCorporationOfAmericaOfNewlyExpandedHdmPercent
0.458 pure
CY2015Q3 FONR Ownership Interest After Reorganization For Hdm Original Investors Of Newly Expanded Hdm Percent
OwnershipInterestAfterReorganizationForHdmOriginalInvestorsOfNewlyExpandedHdmPercent
0.3 pure
CY2015Q3 FONR Hmca Ownership Size Of Imperial Management Services Percent
HmcaOwnershipSizeOfImperialManagementServicesPercent
0.242 pure
CY2012Q2 FONR Contribution By Hmca Of All Its Assets And Liabilities To Imperial Management Services Llc Imperial
ContributionByHmcaOfAllItsAssetsAndLiabilitiesToImperialManagementServicesLlcImperial
1 pure
CY2018Q2 FONR Scanners With Management Agreements With Company Owned By Related Party
ScannersWithManagementAgreementsWithCompanyOwnedByRelatedParty
3 pure
CY2018Q2 FONR Scanners With Management With Company Located In New York State
ScannersWithManagementWithCompanyLocatedInNewYorkState
19 pure
CY2018Q2 us-gaap Long Term Debt And Capital Lease Obligations Maturities Repayments Of Principal In Year Two
LongTermDebtAndCapitalLeaseObligationsMaturitiesRepaymentsOfPrincipalInYearTwo
32944 usd
CY2017Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
21254279 usd
CY2018Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
24002453 usd
CY2018Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
21087001 usd
CY2018Q2 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
5462651 usd
CY2018Q2 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
2001906 usd
CY2018Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
2433479 usd
CY2018Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
3261226 usd
CY2018Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
3644287 usd
CY2018Q2 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
4283452 usd
CY2013Q1 FONR Controlling Interest Acquired By Company Of Health Diagnostics Management Llc Hdm
ControllingInterestAcquiredByCompanyOfHealthDiagnosticsManagementLlcHdm
0.505 pure
CY2017Q2 us-gaap Deferred Tax Assets Liabilities Net Current
DeferredTaxAssetsLiabilitiesNetCurrent
17530250 usd
CY2018Q2 us-gaap Deferred Tax Assets Liabilities Net Current
DeferredTaxAssetsLiabilitiesNetCurrent
22450000 usd
CY2018Q2 FONR Common Stock Available Under Stock Bonus Plan
CommonStockAvailableUnderStockBonusPlan
716876 shares
CY2017Q2 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
298426 usd
CY2018Q2 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
213781 usd
CY2017Q2 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
130430 usd
CY2018Q2 us-gaap Deferred Tax Assets Inventory
DeferredTaxAssetsInventory
55514 usd
CY2015Q3 FONR Contribution Percent Of Its Assets By Imperial Which Were Utilized In Business Of Health Management Corporation Of America To Hdm
ContributionPercentOfItsAssetsByImperialWhichWereUtilizedInBusinessOfHealthManagementCorporationOfAmericaToHdm
1 pure
CY2011Q2 FONR Hmca Ownership Percentage Of Imperial
HmcaOwnershipPercentageOfImperial
0.75 pure
CY2016Q2 FONR Hmca Ownership Percentage Of Imperial
HmcaOwnershipPercentageOfImperial
1 pure
CY2017Q4 dei Entity Public Float
EntityPublicFloat
152600000 usd
CY2018Q2 FONR Management Agreements With Company Total Medical Practices
ManagementAgreementsWithCompanyTotalMedicalPractices
22 pure
CY2015Q3 FONR Percent Of Management Of Diagnostic Imaging Centers Business Segment Being Conducted By Hdm.
PercentOfManagementOfDiagnosticImagingCentersBusinessSegmentBeingConductedByHdm.
1 pure
CY2017 FONR Shares Issued Under2010 Stock Bonus Plan
SharesIssuedUnder2010StockBonusPlan
193461 shares
CY2018 FONR Shares Issued Under2010 Stock Bonus Plan
SharesIssuedUnder2010StockBonusPlan
0 shares
CY2016 FONR Shares Issued Under2010 Stock Bonus Plan
SharesIssuedUnder2010StockBonusPlan
146 shares
CY2016Q2 FONR Company Purchased Remaining Balance In Management Service Company In New York Metropolitan Area
CompanyPurchasedRemainingBalanceInManagementServiceCompanyInNewYorkMetropolitanArea
1780000 usd
CY2018Q2 us-gaap Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
2092000 usd
CY2018Q2 FONR Recorded Sales Tax Obligations Interest And Penalties
RecordedSalesTaxObligationsInterestAndPenalties
1452000 usd
CY2017Q2 FONR Balance Beginning Of Year
Balance_BeginningOfYear
7719358 usd
CY2018Q2 FONR Balance Beginning Of Year
Balance_BeginningOfYear
6644504 usd
CY2016Q2 FONR Balance Beginning Of Year
Balance_BeginningOfYear
8950160 usd
CY2017Q2 FONR Amounts Capitalized Other Intangible Assets
AmountsCapitalizedOtherIntangibleAssets
155156 usd
CY2018Q2 FONR Amounts Capitalized Other Intangible Assets
AmountsCapitalizedOtherIntangibleAssets
108829 usd
CY2016Q2 FONR Amounts Capitalized Other Intangible Assets
AmountsCapitalizedOtherIntangibleAssets
113072 usd
CY2017Q2 FONR Abandon Patents Written Off
AbandonPatentsWrittenOff
usd
CY2018Q2 FONR Abandon Patents Written Off
AbandonPatentsWrittenOff
usd
CY2016Q2 FONR Abandon Patents Written Off
AbandonPatentsWrittenOff
-88796 usd
CY2017Q2 FONR Amoritization Of Other Intangible Assets
AmoritizationOfOtherIntangibleAssets
-1230010 usd
CY2018Q2 FONR Amoritization Of Other Intangible Assets
AmoritizationOfOtherIntangibleAssets
-1151677 usd
CY2016Q2 FONR Amoritization Of Other Intangible Assets
AmoritizationOfOtherIntangibleAssets
-1255078 usd
CY2017Q2 FONR Balance End Of Year
Balance_EndOfYear
6644504 usd
CY2018Q2 FONR Balance End Of Year
Balance_EndOfYear
5601656 usd
CY2016Q2 FONR Balance End Of Year
Balance_EndOfYear
7719358 usd
CY2017 FONR Foreign Service And Repair Fees
ForeignServiceAndRepairFees
0.046 pure
CY2018 FONR Foreign Service And Repair Fees
ForeignServiceAndRepairFees
0.05 pure
CY2016 FONR Foreign Service And Repair Fees
ForeignServiceAndRepairFees
0.058 pure
CY2017Q2 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
-331527 usd
CY2018Q2 us-gaap Deferred Tax Assets Goodwill And Intangible Assets
DeferredTaxAssetsGoodwillAndIntangibleAssets
-239011 usd
CY2017 us-gaap Employee Stock Ownership Plan Esop Cash Contributions To Esop
EmployeeStockOwnershipPlanESOPCashContributionsToESOP
0 usd
CY2018 us-gaap Employee Stock Ownership Plan Esop Cash Contributions To Esop
EmployeeStockOwnershipPlanESOPCashContributionsToESOP
0 usd
CY2016 us-gaap Employee Stock Ownership Plan Esop Cash Contributions To Esop
EmployeeStockOwnershipPlanESOPCashContributionsToESOP
0 usd
CY2017 FONR Total Facilities Owned Or Managed At Beginning Of Year
TotalFacilitiesOwnedOrManagedAtBeginningOfYear
25 pure
CY2018 FONR Total Facilities Owned Or Managed At Beginning Of Year
TotalFacilitiesOwnedOrManagedAtBeginningOfYear
26 pure
CY2016 FONR Total Facilities Owned Or Managed At Beginning Of Year
TotalFacilitiesOwnedOrManagedAtBeginningOfYear
24 pure
CY2017 FONR Managed Facilities Added Acquisition
ManagedFacilitiesAddedAcquisition
1 pure
CY2018 FONR Managed Facilities Added Acquisition
ManagedFacilitiesAddedAcquisition
0 pure
CY2016 FONR Managed Facilities Added Acquisition
ManagedFacilitiesAddedAcquisition
1 pure
CY2017 FONR Managed Facilities Added By Internal Development
ManagedFacilitiesAddedByInternalDevelopment
0 pure
CY2018 FONR Managed Facilities Added By Internal Development
ManagedFacilitiesAddedByInternalDevelopment
0 pure
CY2016 FONR Managed Facilities Added By Internal Development
ManagedFacilitiesAddedByInternalDevelopment
0 pure
CY2017 FONR Managed Facilities Closed During Year
ManagedFacilitiesClosedDuringYear
0 pure
CY2018 FONR Managed Facilities Closed During Year
ManagedFacilitiesClosedDuringYear
0 pure
CY2016 FONR Managed Facilities Closed During Year
ManagedFacilitiesClosedDuringYear
0 pure
CY2017 FONR Total Facilities Owned Or Managed At End Of Year
TotalFacilitiesOwnedOrManagedAtEndOfYear
26 pure
CY2018 FONR Total Facilities Owned Or Managed At End Of Year
TotalFacilitiesOwnedOrManagedAtEndOfYear
26 pure
CY2016 FONR Total Facilities Owned Or Managed At End Of Year
TotalFacilitiesOwnedOrManagedAtEndOfYear
25 pure
CY2018 dei Entity Registrant Name
EntityRegistrantName
Fonar Corporation
CY2018 dei Entity Central Index Key
EntityCentralIndexKey
0000355019
CY2018 dei Document Type
DocumentType
10-K
CY2018 dei Document Period End Date
DocumentPeriodEndDate
2018-06-30
CY2018 dei Amendment Flag
AmendmentFlag
false
CY2018 dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--06-30
CY2018 dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No
CY2018 dei Entity Voluntary Filers
EntityVoluntaryFilers
No
CY2018 dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2018 dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
CY2018 dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
FY
CY2018 dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2018
CY2018 FONR Capital Stock And Options Disclosure Textblock
CapitalStockAndOptionsDisclosureTextblock
<p style="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><font style="font: normal 10pt Arial, Helvetica, Sans-Serif">FONAR CORPORATION AND SUBSIDIARIES</font></p> <p style="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><font style="font: normal 10pt Arial, Helvetica, Sans-Serif">NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</font></p> <p style="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><font style="font: normal 10pt Arial, Helvetica, Sans-Serif">JUNE 30, 2018, 2017 and 2016</font></p> <p style="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0"><font style="font: normal 10pt Arial, Helvetica, Sans-Serif">&#160;</font></p> <p style="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><font style="font: normal 10pt Arial, Helvetica, Sans-Serif">NOTE 8 - CAPITAL STOCK</font></p> <p style="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><font style="font: normal 10pt Arial, Helvetica, Sans-Serif">&#160;</font></p> <p style="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><font style="font: normal 10pt Arial, Helvetica, Sans-Serif">Common Stock</font></p> <p style="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 6pt 0 0; text-align: justify"><font style="font: normal 10pt Arial, Helvetica, Sans-Serif">Cash dividends payable on the common stock shall, in all cases, be on a per share basis, one hundred twenty percent (120%) of the cash dividend payable on shares of Class B common stock and three hundred sixty percent (360%) of the cash dividend payable on a share of Class C common stock.</font></p> <p style="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><font style="font: normal 10pt Arial, Helvetica, Sans-Serif">&#160;</font></p> <p style="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 6pt 0 0; text-align: justify"><font style="font: normal 10pt Arial, Helvetica, Sans-Serif">Class B Common Stock</font></p> <p style="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 6pt 0 0; text-align: justify"><font style="font: normal 10pt Arial, Helvetica, Sans-Serif">Class B common stock is convertible into shares of common stock on a one-for-one basis. 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The Class C common stock has 25 votes per share, as compared to 10 votes per share for the Class B common stock and one vote per share for the common stock. The Class C common stock was offered on a three-for-one basis to the holders of the Class B common stock. Although having greater voting power, each share of Class C common stock has only one-third of the rights of a share of Class B common stock to dividends and distributions. 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The plan entitles the Company to reserve 2,000,000 shares of common stock. On August 10, 2010, the Company filed Form S-8 to register the 2,000,000 shares. As of June 30, 2018, 716,876 shares of common stock of FONAR were available for future grant under this plan. 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The options granted vest either immediately or ratably over a period of time from the date of grant, typically three or four years, at a price determined by the Board of Directors or a committee of the Board of Directors, generally the fair value of the Company's common stock at the date of grant. The options must be exercised within ten years from the date of grant.</font></p> <p style="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><font style="font: normal 10pt Arial, Helvetica, Sans-Serif">&#160;</font></p>
CY2018 us-gaap Use Of Estimates
UseOfEstimates
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CY2018 FONR Deferred Rent
DeferredRent
<p style="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><font style="font: normal 10pt Arial, Helvetica, Sans-Serif">Deferred Rent</font></p> <p style="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><font style="font: normal 10pt Arial, Helvetica, Sans-Serif">&#160;</font></p> <p style="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><font style="font: normal 10pt Arial, Helvetica, Sans-Serif">Rent expense is recorded on the straight-line method based on the total minimum rent payments required over the term of the lease. The cumulative difference between the lease expense recorded under this method and the contractual lease payment terms is recorded as deferred rent.</font></p> <p style="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</p>
CY2018 us-gaap Revenue Recognition Deferred Revenue
RevenueRecognitionDeferredRevenue
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CY2018 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
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CY2018 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
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CY2018 FONR Estimated Useful Life In Years For Property And Equipment
EstimatedUsefulLifeInYearsForPropertyAndEquipment
<p style="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><font style="font: normal 10pt Arial, Helvetica, Sans-Serif">Property and Equipment</font></p> <p style="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><font style="font: normal 10pt Arial, Helvetica, Sans-Serif">&#160;</font></p> <p style="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><font style="font: normal 10pt Arial, Helvetica, Sans-Serif">The estimated useful lives in years are generally as follows:</font></p> <p style="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><font style="font: normal 10pt Arial, Helvetica, Sans-Serif">&#160;</font></p> <table cellpadding="0" cellspacing="0" align="center" style="border-collapse: collapse; width: 60%; font: 11pt Calibri, Helvetica, Sans-Serif"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Arial, Helvetica, Sans-Serif; 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CY2018 us-gaap Revenue Recognition Allowances
RevenueRecognitionAllowances
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CY2018 FONR Export Product Sales
ExportProductSales
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CY2018 FONR Export Service Revenues
ExportServiceRevenues
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CY2018Q2 us-gaap Long Term Debt And Capital Lease Obligations Repayments Of Principal In Next Twelve Months
LongTermDebtAndCapitalLeaseObligationsRepaymentsOfPrincipalInNextTwelveMonths
38332 usd
CY2016Q2 FONR Purchase Of Equity In Turnkey Services Of New York Llc
PurchaseOfEquityInTurnkeyServicesOfNewYorkLlc
1 pure
CY2016Q2 FONR Purchase Of Equity In Tk2 Equipment Management Llc
PurchaseOfEquityInTk2EquipmentManagementLlc
1 pure
CY2016Q2 FONR Purchase Amount By Company For Turnkey Services Of New York Llc.And Tk2 Equipment Llc.
PurchaseAmountByCompanyForTurnkeyServicesOfNewYorkLlc.AndTk2EquipmentLlc.
4223567 usd
CY2016Q2 FONR Net Assets Attributed To Turnkey Services Of New York Llc.And Tk2 Equipment Llc.
NetAssetsAttributedToTurnkeyServicesOfNewYorkLlc.AndTk2EquipmentLlc.
2861506 usd
CY2018 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
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P11Y37D
CY2018 FONR Revenue Recognition
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2397276 usd
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0 usd
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2006 usd
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2239302 usd
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64406 usd
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-17498 usd
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8121 usd
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18593894 usd
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21863431 usd
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4959598 usd
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5535096 usd
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3813576 usd
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50783513 usd
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102234471 usd
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60776307 usd
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-5909100 usd
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7333 usd
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7333 usd
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7616 usd
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1680 usd
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1755 usd
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791210 usd
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4636578 usd
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-12489003 usd
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7333 usd
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-113072 usd
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-1312769 usd
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-4223567 usd
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-2851158 usd
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16807264 usd
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18739323 usd
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242798 usd
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525113 usd
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3065673 usd
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168733 usd
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254721 usd
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15008 usd
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18054 usd
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72718 usd
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450038 usd
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192882 usd
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117549 usd
CY2017 us-gaap Increase Decrease In Unbilled Receivables
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46200000 usd

Files In Submission

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0000355019-18-000039-index.html Edgar Link pending
0000355019-18-000039.txt Edgar Link pending
0000355019-18-000039-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
fonar-logo.jpg Edgar Link pending
fonar2018_10-k.htm Edgar Link pending
fonar_exhibit-21.htm Edgar Link pending
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fonar_exhibit-31.htm Edgar Link pending
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fonr-20180630.xsd Edgar Link pending
fonr-20180630_cal.xml Edgar Link unprocessable
fonr-20180630.xml Edgar Link completed
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report.css Edgar Link pending
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fonr-20180630_def.xml Edgar Link unprocessable