Fonar (FONR) Surges 200% On Profitable Quarter
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Fonar Corp. (Nasdaq: FONR) is seeing a huge surge this morning after reporitng third quarter results. The company reported net income of $730,000 as compared to the same period one year earlier when it had a loss of $2.7 million. Revenues increased 39.5% to $11.3 million as compared to $8.1 million for the quarter ending March 31, 2008.
Fonar said this was the second straight quarters of income greater than $700,000, which was related to an aggressive cost-cutting program.
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