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<SEC-DOCUMENT>0000355019-08-000015.txt : 20080520
<SEC-HEADER>0000355019-08-000015.hdr.sgml : 20080520
<ACCEPTANCE-DATETIME>20080520172806
ACCESSION NUMBER:		0000355019-08-000015
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20080331
ITEM INFORMATION:		Results of Operations and Financial Condition
FILED AS OF DATE:		20080520
DATE AS OF CHANGE:		20080520

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:		08849803

	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>k8-80520.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): May 20, 2008

                                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 March 31, 2008 in a press release dated May 20, 2008.


Exhibits

      99.1 Press Release dated May 20, 2008



                                   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:   May 20, 2008





</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>2
<FILENAME>x99-8520.txt
<TEXT>
Exhibit 99.1

                                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:invest2008@fonar.com                               Fax:    (631)  390-1709
================================================================================

  FONAR Reports Fiscal 2008  Quarter and Nine Months Financial Statement

MELVILLE, NEW YORK, May 20, 2008 - FONAR Corporation (NASDAQ-FONR), The Inventor
of MR Scanning(TM)  today announced its financial  results for the third quarter
of fiscal  2008,  which  ended March 31,  2008.  FONAR is the  developer  of the
UPRIGHT(R) Multi-Position(TM) MRI.

Total  revenues  for the nine  months  ended  March 31, 2008 rose 13.1% to $27.4
million as  compared  to $24.2  million  for the same  period  last year.  Total
revenues  for the third  quarter of fiscal 2008 ended  March 31, 2008  decreased
8.1% to $8.1 million as compared to $8.8 million for the same period last year.

Product sales for the nine month period ended March 31, 2008 increased  15.2% to
$8.9 million  from $7.8 million for the same period last year.  During the third
fiscal 2008  quarter,  product sales  decreased  27.1% to $2.3 million from $3.2
million for the same period last year.

Service  and repair  revenues  for the nine month  period  ended  March 31, 2008
increased  9.3% to $8.2 million  from $7.5  million  during the same period last
year. In addition, service and repair revenues for the third fiscal 2008 quarter
increased  8.9% to $2.8 million from $2.6 million for the same period last year.
Service and repair revenues  continue to increase because of the steady increase
in the installed  base of the FONAR  UPRIGHT(R)  Multi-Position(TM)  MRI and the
accompanying  service contract  agreements.  As of March 31, 2008 there were 127
FONAR UPRIGHT(R) Multi-Position(TM) MRI units installed worldwide.

The net loss for the nine month period ended March 31, 2008  decreased  60.3% to
$6.7 million as compared to a net loss of $17.0  million  during the same period
last year. During the third fiscal 2008 quarter ended March 31, 2008 there was a
50.1% decrease in the net loss to $2.7 million as compared to a net loss of $5.4
million  during the same period last year.  The loss per common share (basic and
diluted) for the nine month period ended March 31, 2008 was $1.38 as compared to
a loss of $3.52  during the same  period  last year.  The loss per common  share
(basic and diluted)  for the third fiscal  quarter of 2008 was $0.55 as compared
to a loss of $1.11 during the same period last year.

As of March 31, 2008,  total cash, cash  equivalents  and marketable  securities
were approximately $3.2 million as compared to $3.4 million as of June 30, 2007.
Also,  as of March 31, 2008,  total  assets were $41.0  million,  total  current
assets were $24.2 million,  total current  liabilities  were $37.1 million,  and
total long-term liabilities were $1.2 million.

Commenting  on the  financial  and  operating  results for the third  quarter of
fiscal 2008, Raymond Damadian, M.D., president and chairman of FONAR, said, "Our
belief is that every major medical  institution needs our technology.  Once they
understand  this,  then they will buy.  The  February  13,  2008  edition of the
Journal of the American  Medical  Association  (JAMA)  reported that in 2005 the
U.S. spent $86 billion on spine care and treatments,  a 65% increase since 1997.
This is nearly as much as is spent on cancer care.  The JAMA  article  indicates
disappointment with the success of medicine to help patients with back pain, and
I can understand this sentiment."

Dr. Damadian said,  "Subsequently,  spine surgeons today are continually looking
for ways to improve their profession. Various companies have developed different
hardware to be used in the repair of the spine.  But given the  obvious  concern
that if you can't see it, you can't fix it, more and more surgeons are coming to
appreciate and rely on the FONAR UPRIGHT(R) Multi-Position(TM) MRI. This new MRI
scanner,  created by FONAR,  permits a physician to  visualize  aspects of spine
pathology for the first time that they have long wanted to see but couldn't."

"Specifically,  in evaluating a patient's spine problem," said Dr. Damadian, "it
is important to be able to visualize the patient's  spine  pathology in the full
range of  positions  his spine is likely to  occupy,  so that one can assess the
full extent of a patient's  problem and  determine the full range of what has to
be repaired to overcome his back pain. Equally important is to see it "all". For
example,  if the surgeon can't see the pathology  causing the patient's  problem
because the imaging  modality itself can't see it, then the surgeon can't repair
it."

Dr. Damadian  continued,  "we now know from UCLA's  comprehensive study of 1,302
back patients using the FONAR UPRIGHT(R) Multi-Position(TM) MRI just reported at
the NASS 2007 annual meeting,  that static-only MRI can "miss" as many as 35% of
the  spondylolistheses  that  exist at L4-5.  L4-5 is the  lumbar  segment  most
frequently  involved  in causing  back pain.  Accordingly,  if a surgeon  cannot
repair 35% of the  spondylolistheses at L4-5 because the conventional  recumbent
MRI cannot visualize them, 3 out of 10 patients with L4-5 vertebral  instability
will have an  unsatisfactory  surgical result that could have been vastly better
if the patient had been imaged on the FONAR UPRIGHT(R) scanner."

"Additionally, it is self-evident that conventional MRI images the spine only in
the recumbent  position when it is not subject to the gravitational  compressive
forces that  normally act on the upright  spine.  This,  therefore,  provides an
unrealistic  picture of what the patient's  spine is actually  undergoing in its
normal  daily  activity.  It  therefore,  is very  likely to not  visualize  the
pathology  causing the patient's pain or to underestimate the full extent of the
pathology that has to be surgically addressed. Once again, failing to achieve an
accurate   visualization  of  a  patient's  spine  pathology,   because  of  the
limitations of conventional  recumbent-only MRI technology, can mean a less than
adequate   surgical   outcome   for   patients   which  the   FONAR   UPRIGHT(R)
Multi-Position(TM) MRI is now in a position to rectify," concluded Dr. Damadian.

"If you can't see the patient's problem because the diagnostic imaging tools for
doing so are  insufficient,  you can't fix it," said Dr.  Damadian.  "The  FONAR
UPRIGHT(R)   Multi-Position(TM)   MRI  and  its  power  to  provide   UPRIGHT(R)
Multi-Position(TM)  Spondylography(TM)  and  Spondylometry(TM)  are  designed to
achieve  the  enhanced   diagnostic   accuracy  needed  for  improved  treatment
outcomes."

           Condensed Consolidated Statements of Operations (Unaudited)
                                 (000's omitted)

                           For the Three Months    For the Nine Months
                              Ended March 31         Ended March 31,
                              2008      2007         2008      2007
                            --------  --------     --------  ---------
          Revenues          $ 8,071   $ 8,782      $27,421   $ 24,237
          Net Loss          $(2,695)  $(5,401)     $(6,742)  $(16,976)
          Basic & Diluted
          Loss Per Common
          Share             $(0.55)   $(1.11)      $(1.38)    $(3.52)
________________________________________________________________________________

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),   Multi-Position(TM)
Spondylography(TM)  and  Spondylometry(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.

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