2020 Q1 Form 10-Q Financial Statement

#000035501920000027 Filed on May 15, 2020

View on sec.gov

Income Statement

Concept 2020 Q1 2019 Q2 2019 Q1
Revenue $218.0K $22.48M $228.0K
YoY Change -4.39% 6.84% 0.0%
Cost Of Revenue $11.31M $11.24M $11.19M
YoY Change 1.07% 5.74% 6368.21%
Gross Profit $10.37M $11.24M $11.59M
YoY Change -10.53% 7.97% 20972.73%
Gross Profit Margin 4756.88% 50.0% 5083.33%
Selling, General & Admin $7.224M $6.790M $4.604M
YoY Change 56.91% 29.83% -16.79%
% of Gross Profit 69.66% 60.41% 39.72%
Research & Development $535.0K $440.0K $381.0K
YoY Change 40.42% -12.0% -24.25%
% of Gross Profit 5.16% 3.91% 3.29%
Depreciation & Amortization $998.0K $990.0K $978.0K
YoY Change 2.04% 4.21% -1.41%
% of Gross Profit 9.62% 8.81% 8.44%
Operating Expenses $7.759M $7.240M $4.985M
YoY Change 55.65% 26.57% -17.41%
Operating Profit $2.611M $4.000M $6.605M
YoY Change -60.47% -14.71% -210.43%
Interest Expense $17.00K $130.0K $27.00K
YoY Change -37.04% 116.67% -158.7%
% of Operating Profit 0.65% 3.25% 0.41%
Other Income/Expense, Net $0.00
YoY Change -100.0%
Pretax Income $2.724M $4.140M $6.685M
YoY Change -59.25% -13.03% 51.18%
Income Tax $810.0K -$1.820M $1.484M
% Of Pretax Income 29.74% -43.96% 22.2%
Net Earnings $1.261M $4.580M $3.863M
YoY Change -67.36% -53.46% 10.97%
Net Earnings / Revenue 578.44% 20.37% 1694.3%
Basic Earnings Per Share $0.20 $0.61
Diluted Earnings Per Share $181.0K $667.6K $561.9K
COMMON SHARES
Basic Shares Outstanding 6.447M shares 6.357M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q1 2019 Q2 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $31.10M $29.00M $24.80M
YoY Change 25.4% 47.96% 61.04%
Cash & Equivalents $31.02M $13.88M $9.780M
Short-Term Investments $0.00 $15.10M
Other Short-Term Assets $1.800M $1.500M $1.600M
YoY Change 12.5% 15.38% 6.67%
Inventory $1.900M $2.300M $2.100M
Prepaid Expenses
Receivables $55.40M $51.70M $50.20M
Other Receivables $1.200M $600.0K $0.00
Total Short-Term Assets $91.36M $85.09M $78.81M
YoY Change 15.92% 26.88% 28.84%
LONG-TERM ASSETS
Property, Plant & Equipment $21.26M $16.99M $17.44M
YoY Change 21.89% 2.99% 2.5%
Goodwill $3.985M $3.985M $3.985M
YoY Change 0.0% 0.0% 0.0%
Intangibles $4.162M $4.756M $4.959M
YoY Change -16.07% -15.1% -14.69%
Long-Term Investments
YoY Change
Other Assets $19.10M $22.10M $20.20M
YoY Change -5.45% -7.92% 9.19%
Total Long-Term Assets $79.84M $48.47M $47.79M
YoY Change 67.07% -5.39% 5.42%
TOTAL ASSETS
Total Short-Term Assets $91.36M $85.09M $78.81M
Total Long-Term Assets $79.84M $48.47M $47.79M
Total Assets $171.2M $133.6M $126.6M
YoY Change 35.23% 12.9% 18.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.687M $1.861M $1.631M
YoY Change 3.43% 43.14% 29.55%
Accrued Expenses $7.500M $7.000M $4.400M
YoY Change 70.45% -5.41% -25.42%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $313.6K $0.00
YoY Change -8.92% -100.0%
Total Short-Term Liabilities $14.89M $14.09M $11.28M
YoY Change 31.98% -3.27% -8.59%
LONG-TERM LIABILITIES
Long-Term Debt $200.0K $300.0K $300.0K
YoY Change -33.33% 0.0% 0.0%
Other Long-Term Liabilities $30.20M $800.0K $800.0K
YoY Change 3675.0% -20.0% -11.11%
Total Long-Term Liabilities $30.70M $1.358M $1.369M
YoY Change 2142.73% -10.04% -14.22%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.89M $14.09M $11.28M
Total Long-Term Liabilities $30.70M $1.358M $1.369M
Total Liabilities $45.59M $15.45M $12.65M
YoY Change 260.39% -3.91% -9.23%
SHAREHOLDERS EQUITY
Retained Earnings -$56.79M -$64.46M -$69.04M
YoY Change -17.74% -19.2% -22.96%
Common Stock $183.1M $181.1M $181.1M
YoY Change 1.1% 1.09% 1.09%
Preferred Stock
YoY Change
Treasury Stock (at cost) $675.4K -$675.0K
YoY Change -200.06% 0.0%
Treasury Stock Shares
Shareholders Equity $125.6M $116.0M $113.9M
YoY Change
Total Liabilities & Shareholders Equity $171.2M $133.6M $126.6M
YoY Change 35.22% 12.89% 18.86%

Cashflow Statement

Concept 2020 Q1 2019 Q2 2019 Q1
OPERATING ACTIVITIES
Net Income $1.261M $4.580M $3.863M
YoY Change -67.36% -53.46% 10.97%
Depreciation, Depletion And Amortization $998.0K $990.0K $978.0K
YoY Change 2.04% 4.21% -1.41%
Cash From Operating Activities $3.740M $6.320M $3.490M
YoY Change 7.16% 2.93% -6.18%
INVESTING ACTIVITIES
Capital Expenditures -$1.960M -$320.0K -$880.0K
YoY Change 122.73% 45.45% 15.79%
Acquisitions
YoY Change
Other Investing Activities $15.26M -$90.00K -$15.00M
YoY Change -201.73% 50.0%
Cash From Investing Activities $13.30M -$420.0K -$15.88M
YoY Change -183.75% 50.0% 1989.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.420M -1.790M -1.120M
YoY Change 26.79% 9.15% -36.0%
NET CHANGE
Cash From Operating Activities 3.740M 6.320M 3.490M
Cash From Investing Activities 13.30M -420.0K -15.88M
Cash From Financing Activities -1.420M -1.790M -1.120M
Net Change In Cash 15.62M 4.110M -13.51M
YoY Change -215.62% -2.61% -1216.53%
FREE CASH FLOW
Cash From Operating Activities $3.740M $6.320M $3.490M
Capital Expenditures -$1.960M -$320.0K -$880.0K
Free Cash Flow $5.700M $6.640M $4.370M
YoY Change 30.43% 4.4% -2.46%

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<p style="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0 0 0pt; text-align: justify"><font style="font: normal 11pt Arial, Helvetica, Sans-Serif">Reclassifications&#160;</font></p> <p style="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0 0 0pt; text-align: justify"><font style="font: normal 11pt Arial, Helvetica, Sans-Serif">&#160;</font></p> <p style="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0 0 0pt; text-align: justify"><font style="font: normal 11pt Arial, Helvetica, Sans-Serif">Certain prior year amounts have been reclassified to conform to the current year presentation. The reclassifications did not have any effect on reported consolidated net income for any periods presented.</font></p> <p style="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0 0 0pt"><font style="font: normal 11pt Arial, Helvetica, Sans-Serif">&#160;</font></p>
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dei Entity Registrant Name
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FONAR CORP
dei Entity Central Index Key
EntityCentralIndexKey
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dei Document Type
DocumentType
10-Q
dei Document Period End Date
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2020-03-31
dei Document Fiscal Year Focus
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2020
dei Current Fiscal Year End Date
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--06-30
dei Document Fiscal Period Focus
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dei Amendment Flag
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false
dei Entity File Number
EntityFileNumber
0-10248
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Current Reporting Status
EntityCurrentReportingStatus
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dei Entity Small Business
EntitySmallBusiness
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dei Entity Filer Category
EntityFilerCategory
Accelerated Filer
dei Security12b Title
Security12bTitle
Common Stock
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CY2019Q2 us-gaap Costs In Excess Of Billings On Uncompleted Contracts Or Programs
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CY2020Q1 us-gaap Costs In Excess Of Billings On Uncompleted Contracts Or Programs
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dei Entity Shell Company
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CY2020Q1 FONR Receivable From Landlord For Tenant Improvements
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CY2019Q3 FONR Material Impact On Companys Balance Sheet From Adoption Of Asu201602 Regarding Present Value Of Future Operating Lease Payments.
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CY2019Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2019Q1 FONR Net Revenues From Management And Other Fees Charged To Related Pcs
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FONR Net Revenues From Management And Other Fees Charged To Related Pcs
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FONR Net Revenues From Management And Other Fees Charged To Related Pcs
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CY2020Q1 FONR Net Revenues From Management And Other Fees Charged To Related Pcs
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CY2020Q2 FONR New Level Of Scans At Managed Centers In Comparison To Precovid19
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CY2020Q1 us-gaap Operating Loss Carryforwards
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CY2020Q1 us-gaap Deferred Revenue Noncurrent
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us-gaap Finance Lease Impairment Loss
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FONR Proceedspurchase Of Short Term Investment
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us-gaap Repayment Of Notes Receivable From Related Parties
RepaymentOfNotesReceivableFromRelatedParties
9000 usd

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