2018 Q4 Form 10-Q Financial Statement

#000035501919000004 Filed on February 11, 2019

View on sec.gov

Income Statement

Concept 2018 Q4 2017 Q4
Revenue $227.0K $227.0K
YoY Change 0.0% -40.58%
Cost Of Revenue $11.09M $246.0K
YoY Change 4408.13% -823.53%
Gross Profit $10.14M -$19.00K
YoY Change -53468.42% -104.57%
Gross Profit Margin 4466.96% -8.37%
Selling, General & Admin $3.610M $3.286M
YoY Change 9.86% -19.24%
% of Gross Profit 35.6%
Research & Development $550.0K $407.0K
YoY Change 35.14% 12.74%
% of Gross Profit 5.42%
Depreciation & Amortization $952.0K $998.0K
YoY Change -4.61% 15.64%
% of Gross Profit 9.39%
Operating Expenses $4.160M $3.693M
YoY Change 12.65% -16.64%
Operating Profit $5.980M -$3.712M
YoY Change -261.1% -7.52%
Interest Expense -$25.00K -$48.00K
YoY Change -47.92% -37.66%
% of Operating Profit -0.42%
Other Income/Expense, Net -$5.000K
YoY Change
Pretax Income $6.077M $5.815M
YoY Change 4.51% 26.94%
Income Tax -$1.213M -$575.0K
% Of Pretax Income -19.96% -9.89%
Net Earnings $3.552M $4.189M
YoY Change -15.21% -1.25%
Net Earnings / Revenue 1564.76% 1845.37%
Basic Earnings Per Share $0.56 $0.67
Diluted Earnings Per Share $516.7K $616.2K
COMMON SHARES
Basic Shares Outstanding 6.357M shares 6.287M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q4 2017 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $23.30M $14.20M
YoY Change 64.08% 84.42%
Cash & Equivalents $23.29M $14.19M
Short-Term Investments
Other Short-Term Assets $1.100M $1.400M
YoY Change -21.43% 55.56%
Inventory $1.700M $2.400M
Prepaid Expenses
Receivables $47.50M $42.30M
Other Receivables $0.00 $0.00
Total Short-Term Assets $73.62M $60.25M
YoY Change 22.21% 24.36%
LONG-TERM ASSETS
Property, Plant & Equipment $17.34M $16.99M
YoY Change 2.11% 13.89%
Goodwill $3.985M $3.985M
YoY Change 0.0% 19.96%
Intangibles $5.160M $6.076M
YoY Change -15.08% -15.63%
Long-Term Investments
YoY Change
Other Assets $21.60M $17.90M
YoY Change 20.67% 24.31%
Total Long-Term Assets $49.28M $44.95M
YoY Change 9.61% 12.8%
TOTAL ASSETS
Total Short-Term Assets $73.62M $60.25M
Total Long-Term Assets $49.28M $44.95M
Total Assets $122.9M $105.2M
YoY Change 16.83% 19.14%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.294M $1.365M
YoY Change -5.2% -7.14%
Accrued Expenses $4.700M $6.200M
YoY Change -24.19% -7.46%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $100.0K
YoY Change -100.0% -94.12%
Total Short-Term Liabilities $11.63M $13.60M
YoY Change -14.45% -21.29%
LONG-TERM LIABILITIES
Long-Term Debt $300.0K $300.0K
YoY Change 0.0% -25.0%
Other Long-Term Liabilities $900.0K $900.0K
YoY Change 0.0% -18.18%
Total Long-Term Liabilities $1.380M $1.593M
YoY Change -13.37% -20.51%
TOTAL LIABILITIES
Total Short-Term Liabilities $11.63M $13.60M
Total Long-Term Liabilities $1.380M $1.593M
Total Liabilities $13.01M $15.19M
YoY Change -14.34% -21.21%
SHAREHOLDERS EQUITY
Retained Earnings -$72.90M $93.10M
YoY Change -178.31% -182.52%
Common Stock $181.1M $179.1M
YoY Change 1.09% 1.8%
Preferred Stock
YoY Change
Treasury Stock (at cost) -$675.0K -$675.0K
YoY Change 0.0% 0.0%
Treasury Stock Shares
Shareholders Equity $109.9M $90.00M
YoY Change
Total Liabilities & Shareholders Equity $122.9M $105.2M
YoY Change 16.81% 19.14%

Cashflow Statement

Concept 2018 Q4 2017 Q4
OPERATING ACTIVITIES
Net Income $3.552M $4.189M
YoY Change -15.21% -1.25%
Depreciation, Depletion And Amortization $952.0K $998.0K
YoY Change -4.61% 15.64%
Cash From Operating Activities $5.870M $5.140M
YoY Change 14.2% 55.29%
INVESTING ACTIVITIES
Capital Expenditures -$1.810M -$1.210M
YoY Change 49.59% 26.04%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$1.810M -$1.210M
YoY Change 49.59% 26.04%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.960M -1.060M
YoY Change 84.91% -59.85%
NET CHANGE
Cash From Operating Activities 5.870M 5.140M
Cash From Investing Activities -1.810M -1.210M
Cash From Financing Activities -1.960M -1.060M
Net Change In Cash 2.100M 2.870M
YoY Change -26.83% -1089.66%
FREE CASH FLOW
Cash From Operating Activities $5.870M $5.140M
Capital Expenditures -$1.810M -$1.210M
Free Cash Flow $7.680M $6.350M
YoY Change 20.94% 48.71%

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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2018Q4 FONR Accounts Receivable Service And Repair Fees
AccountsReceivableServiceAndRepairFees
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AccountsReceivableServiceAndRepairFees
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us-gaap Earnings Per Share Basic
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Investment Income Net
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InvestmentIncomeNet
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CY2018Q4 us-gaap Investment Income Net
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CY2018Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
119000 usd
dei Current Fiscal Year End Date
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CY2018Q4 us-gaap Other Inventory Supplies
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CY2018Q2 us-gaap Other Inventory Supplies
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CY2018Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
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FiniteLivedIntangibleAssetsGross
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CY2015Q3 FONR Ownership Interest After Reorganization For Health Management Corporation Of America Of Newly Expanded Hdm Percent
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0.458 pure
CY2015Q3 FONR Ownership Interest After Reorganization For Hdm Original Investors Of Newly Expanded Hdm Percent
OwnershipInterestAfterReorganizationForHdmOriginalInvestorsOfNewlyExpandedHdmPercent
0.3 pure
dei Entity Registrant Name
EntityRegistrantName
FONAR CORP
dei Entity Central Index Key
EntityCentralIndexKey
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dei Document Type
DocumentType
10-Q
dei Document Period End Date
DocumentPeriodEndDate
2018-12-31
dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2019
us-gaap Income Loss From Continuing Operations Before Interest Expense Interest Income Income Taxes Extraordinary Items Noncontrolling Interests Net
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10596000 usd
us-gaap Income Loss From Continuing Operations Before Interest Expense Interest Income Income Taxes Extraordinary Items Noncontrolling Interests Net
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5810000 usd
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InterestExpense
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RetainedEarningsAccumulatedDeficit
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<p style="font: 10pt/normal Arial, Helvetica, Sans-Serif; margin: 0"><font style="font: normal 10pt Arial, Helvetica, Sans-Serif"><u>Reclassifications</u></font></p> <p style="font: 10pt 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 Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><font style="font: normal 10pt Arial, Helvetica, Sans-Serif">Certain prior year amounts have been reclassified to conform to the current year presentation. The reclassifcations did not have any effect on reported consolidated net income for any periods presented.</font></p> <p style="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><font style="font: normal 10pt Arial, Helvetica, Sans-Serif">&#160;</font></p>
us-gaap Repayments Of Other Debt
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us-gaap Repayments Of Other Debt
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us-gaap Payments Of Dividends Minority Interest
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us-gaap Payments Of Dividends Minority Interest
PaymentsOfDividendsMinorityInterest
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us-gaap Increase Decrease In Lease Acquisition Costs
IncreaseDecreaseInLeaseAcquisitionCosts
-58000 usd
us-gaap Increase Decrease In Lease Acquisition Costs
IncreaseDecreaseInLeaseAcquisitionCosts
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CY2018Q4 us-gaap Inventory Finished Goods And Work In Process
InventoryFinishedGoodsAndWorkInProcess
1657000 usd
CY2018Q2 us-gaap Inventory Finished Goods And Work In Process
InventoryFinishedGoodsAndWorkInProcess
1431000 usd
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
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us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
1955000 usd
CY2018Q4 FONR Maximum Limit For Individual Claims Under Stoploss Umbrella Policy For Health Insurance
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100000 usd
CY2018Q4 us-gaap Income Tax Examination Penalties And Interest Accrued
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1190000 usd
CY2018Q4 us-gaap Sales And Excise Tax Payable Current And Noncurrent
SalesAndExciseTaxPayableCurrentAndNoncurrent
1701000 usd
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EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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CY2017Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-5000 usd
CY2018Q4 FONR Estimated Earnings
EstimatedEarnings
309000 usd
CY2018Q2 FONR Estimated Earnings
EstimatedEarnings
309000 usd
CY2018Q4 FONR Costs And Estimated Earnings On Uncompleted Contracts
CostsAndEstimatedEarningsOnUncompletedContracts
758000 usd
CY2018Q2 FONR Costs And Estimated Earnings On Uncompleted Contracts
CostsAndEstimatedEarningsOnUncompletedContracts
758000 usd
CY2018Q4 FONR Billings To Date
BillingsToDate
671000 usd
CY2018Q2 FONR Billings To Date
BillingsToDate
671000 usd
CY2018Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
20348000 usd
CY2018Q2 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
22689000 usd
CY2018Q4 us-gaap Deferred Tax Liability Not Recognized Amount Of Unrecognized Deferred Tax Liability Policyholders Surplus
DeferredTaxLiabilityNotRecognizedAmountOfUnrecognizedDeferredTaxLiabilityPolicyholdersSurplus
239000 usd
CY2018Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
76135000 usd
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Small Business
EntitySmallBusiness
true
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
23287000 usd
CY2017Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
10140000 usd
CY2018Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
19634000 usd
CY2017Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
14194000 usd
CY2018Q4 us-gaap Costs In Excess Of Billings On Uncompleted Contracts Or Programs Expected To Be Collected Within One Year
CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear
449000 usd
CY2018Q2 us-gaap Costs In Excess Of Billings On Uncompleted Contracts Or Programs Expected To Be Collected Within One Year
CostsInExcessOfBillingsOnUncompletedContractsOrProgramsExpectedToBeCollectedWithinOneYear
449000 usd
CY2018Q4 us-gaap Income Tax Receivable
IncomeTaxReceivable
1200000 usd
CY2018Q2 us-gaap Income Tax Receivable
IncomeTaxReceivable
1200000 usd
CY2018Q4 us-gaap Costs In Excess Of Billings On Uncompleted Contracts Or Programs
CostsInExcessOfBillingsOnUncompletedContractsOrPrograms
87000 usd
CY2018Q2 us-gaap Costs In Excess Of Billings On Uncompleted Contracts Or Programs
CostsInExcessOfBillingsOnUncompletedContractsOrPrograms
87000 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
575000 usd
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
2341000 usd
CY2018Q4 us-gaap Billings In Excess Of Cost
BillingsInExcessOfCost
87000 usd
CY2018Q2 us-gaap Billings In Excess Of Cost
BillingsInExcessOfCost
87000 usd
us-gaap Stock Issued During Period Shares Share Based Compensation
StockIssuedDuringPeriodSharesShareBasedCompensation
70000 shares
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1955000 usd
us-gaap Income Tax Expense Benefit Extraordinary Items
IncomeTaxExpenseBenefitExtraordinaryItems
760000 usd
us-gaap Income Tax Expense Benefit Extraordinary Items
IncomeTaxExpenseBenefitExtraordinaryItems
2341000 usd
us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
1632000 usd
us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
709000 usd
FONR Patient Fee Revenue Net Of Contractual Allowances And Discounts
PatientFeeRevenueNetOfContractualAllowancesAndDiscounts
18190000 usd
FONR Patient Fee Revenue Net Of Contractual Allowances And Discounts
PatientFeeRevenueNetOfContractualAllowancesAndDiscounts
11446000 usd
CY2018Q4 FONR Patient Fee Revenue Net Of Contractual Allowances And Discounts
PatientFeeRevenueNetOfContractualAllowancesAndDiscounts
5921000 usd
CY2017Q4 FONR Patient Fee Revenue Net Of Contractual Allowances And Discounts
PatientFeeRevenueNetOfContractualAllowancesAndDiscounts
9537000 usd
us-gaap Health Care Organization Revenue Net Of Patient Service Revenue Provisions
HealthCareOrganizationRevenueNetOfPatientServiceRevenueProvisions
9869000 usd
us-gaap Health Care Organization Revenue Net Of Patient Service Revenue Provisions
HealthCareOrganizationRevenueNetOfPatientServiceRevenueProvisions
11446000 usd
CY2018Q4 us-gaap Health Care Organization Revenue Net Of Patient Service Revenue Provisions
HealthCareOrganizationRevenueNetOfPatientServiceRevenueProvisions
5921000 usd
CY2017Q4 us-gaap Health Care Organization Revenue Net Of Patient Service Revenue Provisions
HealthCareOrganizationRevenueNetOfPatientServiceRevenueProvisions
4966000 usd
FONR Product Sales Net
ProductSalesNet
439000 usd
FONR Product Sales Net
ProductSalesNet
445000 usd
CY2018Q4 FONR Product Sales Net
ProductSalesNet
395000 usd
CY2017Q4 FONR Product Sales Net
ProductSalesNet
276000 usd
FONR Management And Other Fees Net
ManagementAndOtherFeesNet
20111000 usd
FONR Management And Other Fees Net
ManagementAndOtherFeesNet
21257000 usd
CY2018Q4 FONR Management And Other Fees Net
ManagementAndOtherFeesNet
10573000 usd
CY2017Q4 FONR Management And Other Fees Net
ManagementAndOtherFeesNet
10340000 usd
FONR Service And Repair Fees Net
ServiceAndRepairFeesNet
4616000 usd
FONR Service And Repair Fees Net
ServiceAndRepairFeesNet
4152000 usd
CY2018Q4 FONR Service And Repair Fees Net
ServiceAndRepairFeesNet
2021000 usd
CY2017Q4 FONR Service And Repair Fees Net
ServiceAndRepairFeesNet
2352000 usd
FONR Costs Related To Product Sales
CostsRelatedToProductSales
389000 usd
FONR Costs Related To Product Sales
CostsRelatedToProductSales
322000 usd
CY2018Q4 FONR Costs Related To Product Sales
CostsRelatedToProductSales
317000 usd
CY2017Q4 FONR Costs Related To Product Sales
CostsRelatedToProductSales
246000 usd
FONR Costs Related To Service And Repair Fees
CostsRelatedToServiceAndRepairFees
1533000 usd
FONR Costs Related To Service And Repair Fees
CostsRelatedToServiceAndRepairFees
1491000 usd
CY2018Q4 FONR Costs Related To Service And Repair Fees
CostsRelatedToServiceAndRepairFees
746000 usd
CY2017Q4 FONR Costs Related To Service And Repair Fees
CostsRelatedToServiceAndRepairFees
753000 usd
FONR Costs Related To Management And Other Fees
CostsRelatedToManagementAndOtherFees
11384000 usd
FONR Costs Related To Management And Other Fees
CostsRelatedToManagementAndOtherFees
11660000 usd
CY2018Q4 FONR Costs Related To Management And Other Fees
CostsRelatedToManagementAndOtherFees
5904000 usd
CY2017Q4 FONR Costs Related To Management And Other Fees
CostsRelatedToManagementAndOtherFees
5826000 usd
FONR Net Revenues From External Customers
NetRevenuesFromExternalCustomers
39502000 usd
FONR Net Revenues From External Customers
NetRevenuesFromExternalCustomers
41930000 usd
CY2018Q4 FONR Net Revenues From External Customers
NetRevenuesFromExternalCustomers
21225000 usd
CY2017Q4 FONR Net Revenues From External Customers
NetRevenuesFromExternalCustomers
20168000 usd
us-gaap Revenues Net Of Interest Expense
RevenuesNetOfInterestExpense
39502000 usd
us-gaap Revenues Net Of Interest Expense
RevenuesNetOfInterestExpense
41930000 usd
CY2018Q4 us-gaap Revenues Net Of Interest Expense
RevenuesNetOfInterestExpense
21225000 usd
CY2017Q4 us-gaap Revenues Net Of Interest Expense
RevenuesNetOfInterestExpense
20168000 usd
CY2017Q4 FONR Deferred Tax Asset Before Revaluation For Tax Cut And Jobs Act
DeferredTaxAssetBeforeRevaluationForTaxCutAndJobsAct
46200000 usd
CY2017Q4 us-gaap Deferred Income Tax Assets Net
DeferredIncomeTaxAssetsNet
30200000 usd
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
usd
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-135000 usd

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0000355019-19-000004.txt Edgar Link pending
0000355019-19-000004-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
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