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<SEC-DOCUMENT>0000355019-06-000023.txt : 20061113
<SEC-HEADER>0000355019-06-000023.hdr.sgml : 20061110
<ACCEPTANCE-DATETIME>20061109173758
ACCESSION NUMBER:		0000355019-06-000023
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20060930
ITEM INFORMATION:		Results of Operations and Financial Condition
FILED AS OF DATE:		20061113
DATE AS OF CHANGE:		20061109

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FONAR CORP
		CENTRAL INDEX KEY:			0000355019
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845]
		IRS NUMBER:				112464137
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-10248
		FILM NUMBER:		061203953

	BUSINESS ADDRESS:	
		STREET 1:		110 MARCUS DR
		CITY:			MELVILLE
		STATE:			NY
		ZIP:			11747
		BUSINESS PHONE:		6316942929

	MAIL ADDRESS:	
		STREET 1:		110 MARCUS DRIVE
		CITY:			MELVILLE
		STATE:			NY
		ZIP:			11747
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>k8-61109.txt
<TEXT>
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 8-K

                                 CURRENT REPORT

         Pursuant to Section 13 or 15(d) of the Securities Act of 1934

     Date of Report (Date of earliest event reported): November 9, 2006

                                FONAR CORPORATION
             ------------------------------------------------------
             (Exact name of registrant as specified in its charter)


    Delaware                      0-10248                     11-2464137
- ---------------             ----------------             -------------------
(State or other             (Commission File              (I.R.S. Employer
jurisdiction of                  Number)                 Identification No.)
incorporation)

                                110 Marcus Drive
                            Melville, New York 11747
                                 (631) 694-2929
              ---------------------------------------------------
               (Address, including zip code, and telephone number
                   of registrant's principal executive office)


Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:


[ ]   Written communications pursuant to Rule 425 under the Securities Act
      (17 CFR 230.425)
[ ]   Soliciting material pursuant to Rule 14a-12 under the Exchange Act
      (17 CFR 240.14a-12)
[ ]   Pre-commencement communications pursuant to Rule 14d-2(b) under the
      Exchange Act (17 CFR 240.14d-2(b))
[ ]   Pre-commencement communications pursuant to Rule 13e-4(c) under the
      Exchange Act (17 CFR 240.13e-4(c)


Item 2.02(a) Results of Operations and Financial Condition.

We reported our results of operations and financial condition for the fiscal
quarter ended September 30, 2006 in a press release dated November 9, 2006.


Exhibits

      99.1 Press Release dated November 9, 2006



                                   SIGNATURES

      Pursuant to the requirements of the Securities and Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.

                                                FONAR CORPORATION
                                                (Registrant)

                                                By: /s/ Raymond Damadian
                                                    Raymond Damadian
                                                    President and Chairman

Dated:   November 9, 2006





</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>x99l.txt
<TEXT>
x99

FONAR ANNOUNCES FISCAL 2007 FIRST QUARTER FINANCIAL RESULTS

MELVILLE,  NEW  YORK,  November  9, 2006 - FONAR Corporation (NASDAQ-FONR), The
Inventor of MR Scanning(TM), today  announced  its  financial  results  for the
first quarter of fiscal 2007, which ended September 30, 2006.

Revenues  for  the first quarter of fiscal 2007 were $7.8 million, compared  to
$10.2 million in  the  corresponding  period  of fiscal 2006.  Overall revenues
attributable  to  product  sales were $2.5 million  in  the  first  quarter,  a
decrease from $4.2 million one  year  earlier.   The  lower level of revenue is
attributable  to  a  slow  down  in  capital equipment purchases  by  customers
following robust Upright(TM) Multi-Position(TM)  MRI  sales  in  2003, 2004 and
2005.   Sales  of the FONAR Upright(TM) Multi-Position(TM) MRI were  negatively
affected primarily  by  marketing and advertising pressure from our competitors
attempting to minimize its unique medical benefits.

An important event during  the  first  quarter of fiscal 2007 was the sale of a
FONAR Upright(TM) Multi-Position(TM) MRI  to  St.  Maartenskliniek, the largest
orthopedic hospital in the Netherlands.  At the time  of the purchase, Dr. Paul
Pavlov,   a  Director  of  the  St.  Maartenskliniek,  and  Chairman   of   its
internationally  acclaimed  Spine  Center,  said, "We concluded that once FONAR
made available upright weight-bearing MRI imaging  technology,  owning  one for
the St. Maartenskliniek Spine Center WAS NOT OPTIONAL, BUT MANDATORY.  For  our
hospital  to  continue  to  engage  in  spine surgery without it, once this new
technology became available, WAS UNACCEPTABLE."  For details visit:
www.fonar.com/news/091306a.htm

Service and repair revenues increased from  $1.9  million to $2.5 million or by
31% in the fiscal first quarter of 2007 from the same  quarter  of fiscal 2006.
This occurs due to the result of warranty expirations among the installed  base
after  the  first  year.   As  of  September  30,  2006,  there  were 110 FONAR
Upright(TM) Multi-Position MRI units installed worldwide.

Net loss for the first three months of fiscal 2007 was $6.1 million,  or  $0.05
loss  per  common  share (basic and diluted), as compared to a net loss of $8.3
million, or $0.08 loss  per  common  share  (basic  and  diluted), for the same
period of fiscal 2006.

Total  cash  and  marketable  securities  declined 8% or $0.8 million  to  $8.7
million for the first fiscal quarter of 2007 as compared to the previous fourth
quarter and fiscal year-ending June 30, 2006, of $9.5 million.

On September 30, 2006, total assets were $54.0  million,  total  current assets
were  $34.7  million, total current liabilities were $23.8 million,  and  total
long-term liabilities were $1.4 million.

                               FONAR Corporation

Commenting on  the  financial  results for fiscal 2007, Raymond Damadian, M.D.,
president and chairman of FONAR,  said,  "A very competitive atmosphere has led
to  a decline in sales.  Subsequently, we are  planning  to  expand  our  sales
force,  both  in terms of hiring more sales personnel and further establishment
of a domestic network of distributors."

"We have focused new efforts on the hospital segment of the market place," said
Dr. Damadian.   "The FONAR Upright(TM) Multi-Position(TM) MRI serves a valuable
need to hospitals  since nearly as many spine surgeries are performed each year
as  are heart surgeries.   Since  Upright(TM)  Imaging  in  Multiple  Positions
provides  DYNAMIC MRI IMAGING in contrast to the STATIC imaging by conventional
single-position  recumbent-only  MRI,  it  is  self-evident  that hospitals and
surgeons  engaged  in  spine  surgery  must  come  to  the same conclusion  St.
Maartenskliniek  did, namely that the FONAR Upright(TM) Multi-Position(TM)  MRI
is "MANDATORY" and "NOT-OPTIONAL" for medical practices engaged in spine care."


                CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

                   For the Three Months Ended September 30,
                                2006              2005
                            -----------       ------------
Revenues                    $ 7,783,000       $ 10,153,000
Net Loss                    $(6,105,000)      $ (8,317,000)
Basic & Diluted Loss
per Common Share                $(0.05)            $(0.08)


About FONAR

FONAR(R) was incorporated  in  1978,  making  it  the  first,  oldest  and most
experienced  MRI  manufacturer  in  the  industry. FONAR introduced the world's
first commercial MRI in 1980, and went public  in  1981.  Since  its inception,
FONAR has installed hundreds of MRI scanners worldwide.  Their stellar  product
line  includes the FONAR UPRIGHT(TM) MULTI-POSITION(TM) MRI (also known as  the
Stand-Up(TM)  MRI),  the  only  whole-body MRI that performs Multi-Position(TM)
imaging (mpMRI(TM)) and scans patients  in  numerous  weight-bearing positions,
i.e. standing, sitting, in flexion and extension, as well  as  the conventional
lie-down position.  The FONAR UPRIGHT(TM) MULTI-POSITION(TM) MRI often sees the
patient's  problem  that other scanners cannot because they are lie-down  only.
With nearly one half  million  patients  scanned,  the  patient-friendly  FONAR
UPRIGHT(TM)  MULTI-POSITION(TM)  MRI  has  a near zero claustrophobic rejection
rate  by  patients.   A radiologist said, "FONAR  UPRIGHT(TM)  MRI  -  No  More
Claustrophobia - The Tunnel  Is  Gone."   As another FONAR customer states, "If
the patient is claustrophobic in this scanner,  they'll be claustrophobic in my
parking lot."  Approximately 85% of patients are  scanned  sitting  while  they
watch a 42" flat screen TV.  FONAR's latest MRI scanner is the FONAR 360(TM), a
room-size   recumbent   scanner  that  optimizes  openness  while  facilitating
physician access to the patient.   FONAR  is  headquartered on Long Island, New
York, and has approximately 400 employees.

_______________________________________________________________________________
The Inventor of MR Scanning, True Flow MRI, Stand-Up  MRI,  FONAR  UPRIGHT MRI,
Multi-Position  MRI,  pMRI  and  The Proof is in the Picture are trademarks  of
FONAR Corporation.

Be sure to visit FONAR's Web site for Company product and investor information:
                                 www.fonar.com
                                      ###
This release may include forward-looking  statements  from the company that may
or  may  not  materialize.   Additional  information  on  factors   that  could
potentially affect the company's financial results may be found in the  company
filings with the Securities and Exchange Commission.

Contacts:
Daniel Culver
FONAR Corporation
Tel: 631-694-2929
Fax: 631-390-1709
http://www.fonar.com
invest@fonar.com




</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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