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<SEC-DOCUMENT>0000355019-07-000019.txt : 20071114
<SEC-HEADER>0000355019-07-000019.hdr.sgml : 20071114
<ACCEPTANCE-DATETIME>20071114170010
ACCESSION NUMBER:		0000355019-07-000019
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20070930
ITEM INFORMATION:		Results of Operations and Financial Condition
FILED AS OF DATE:		20071114
DATE AS OF CHANGE:		20071114

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:		071246064

	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>k8-71114.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 14, 2007

                                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, 2007 in a press release dated November 14, 2007.


Exhibits

      99.1 Press Release dated November 14, 2007



                                   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 14, 2007





</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>x9-71114.txt
<TEXT>
================================================================================
                                FONAR CORPORATION

Fonar MRI news @ aol . com                               Inventor of MR Scanning
For    Immediate   Release                               An   ISO  9001  Company

Contact:    Daniel  Culver                               110    Marcus     Drive
Director of Communications                               Melville,   N.Y.  11747
Web site:    www.fonar.com                               Tel:    (631)  694-2929
Email:invest2007@fonar.com                               Fax:    (631)  390-1709
================================================================================

           FONAR Announces Fiscal 2008 First Quarter Financial Results
                       Net Loss Decreases 97% to $209,000

MELVILLE,  NEW YORK,  November 14, 2007 - FONAR Corporation  (NASDAQ-FONR),  The
Inventor of MR Scanning(TM), today announced its financial results for the first
quarter of fiscal 2008,  which ended  September  30, 2007.  The net loss for the
first quarter of fiscal 2008 was $209,000 as compared to a net loss for the same
period one year  earlier of $6.1  million.  For the first three months of fiscal
2008 the loss per common share  (basic and  diluted)  was $0.04,  as compared to
$1.29 loss per common share (basic and  diluted),  for the same period of fiscal
2007.

Also, during the first fiscal quarter of 2008, the loss from operations  dropped
to $4.1 million from $6.1 million one year earlier, a decrease of 33%.

Total revenues for the three months ended  September 30, 2007 were $8.7 million.
This compares to $7.8 million for the same period one year earlier,  an increase
of 11%. Service and repair revenues  increased,  by 8%, from $2.5 million in the
fiscal  first  quarter of 2007 to $2.7  million in the fiscal  first  quarter of
2008. The continued rise in service and repair  revenues is due to the result of
warranty  expirations  among the  installed  base  after the first  year.  As of
September 30, 2007, there were 121 FONAR UPRIGHT(R) Multi-Position(TM) MRI units
installed worldwide. In addition, during the first quarter of fiscal 2008, total
product  sales  increased to $2.6 million from $2.5 million one year earlier for
an increase of 4%.

At the end of the first fiscal quarter of fiscal 2008, total current assets were
$24.4 million,  total assets were $42.2 million,  total current liabilities were
$32.1 million and total long-term liabilities were $1.1 million.  Total cash and
cash equivalents,  and marketable  securities increased 21% from $3.4 million on
June 30, 2007 to $4.2 million as of September 30, 2007.

The Company  sold its 50%  interest  in a  consolidated  subsidiary  and its 20%
equity interest in a non-consolidated  entity on July 31, 2007. This significant
one-time event, within the reporting period, resulted in a gain of approximately
$4.0  million.  The  two  entities  manage  outpatient  MRI  centers  using  the
UPRIGHT(R) Multi-Position(TM) MRI scanner.

Raymond Damadian,  M.D., president and chairman of FONAR said,  "Currently there
is  increasing  recognition  by  the  medical  community  of the  importance  of
Dynamic(TM)  MRI scanning as compared to the static MRI scans of  recumbent-only
conventional   MRI  scanners.   Dynamic(TM)  MRI,  unlike  static  MRI,  enables
multi-position  assessment  and  characterization  of  spine  pathology  in  the
flexion,  extension,  lateral  bending and rotation  positions.  The  diagnostic
information  gained by these  dynamic scans is key to the  understanding  of the
cause of a patient's back pain."

"Additionally," continued Dr. Damadian, "the FONAR UPRIGHT(R) Multi-Position(TM)
MRI addresses medical needs that the recumbent-only  scanner cannot.  Scoliosis,
for  example,  can now be  evaluated  by  radiation-free  imaging  in the  FONAR
Dynamic(TM)  UPRIGHT(R)  MRI  scanner  overcoming  the 70% higher risk of breast
cancers  reported by the National  Cancer  Institute in 2000 in a study of 5,466
women with  scoliosis  patients  monitored by chest X-ray.  Also,  patients with
Chiari syndrome, wherein the cerebellar tonsils of the brain become entrapped in
the foramen magnum at the base of the skull,  can now have their pathology fully
visualized for the first time.  Moreover,  elderly  patients who cannot lie flat
can now be  scanned,  the need for  anesthesia  in  children  needing MRI can be
minimized, and claustrophobic patients are successfully scanned."

                 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
                    For the Three Months Ended September 30,

                                        2007              2006
                                    -----------       ------------
             Revenues               $8,669,000        $ 7,783,000
             Net Loss                $(209,000)       $(6,105,000)
             Basic & Diluted Loss
             per Common Share          $(0.04)            $(1.29)


________________________________________________________________________________
The Inventor of MR Scanning(TM),  Full Range of Motion(TM),  True Flow(TM),  The
Proof is in the Picture(TM),  Dynamic(TM),  pMRI(TM), and Multi-Position(TM) are
trademarks,  and UPRIGHT(R) and STAND-UP(R)  are registered  trademarks of FONAR
Corporation.

            Be sure to visit FONAR's Website for 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.

                                       ###
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