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NEWS For Immediate Release Contact : Daniel Culver Director of Communications E - mail : investor@fonar.com www.fonar.com FONAR The Inventor of MR Scanning ™ An ISO 9001 Company Melville , New York 11747 Phone : ( 631 ) 694-2929 Fax : ( 631 ) 390-1772 FONAR ANNOUNCES 3RD QUARTER AND NINE MONTHS RESULTS FOR FISCAL 2021 ; INCOME INCREASES 125 % Net Income increased 125 % to $ 4.3 million for the quarter ended March 31 , 2021 as compared to the corresponding quarter one year ago . Income from Operations increased 58 % to $ 4.1 million for the quarter ended March 31 , 2021 , as compared to the corresponding quarter one year ago . Diluted Net Income per Common Share Available to Common Stockholders increased 200 % to $ 0.54 for the quarter ended March 31 , 2021 as compared to the corresponding quarter one year ago . Cash and Cash Equivalents increased 11 % to $ 40.8 million at March 31 , 2021 as compared to the year - end , June 30 , 2020 . Total Revenues - Net increased 6 % to $ 23.1 million for the quarter ended March 31 , 2021 , versus the corresponding quarter one year earlier . COVID - 19 drastically affected imaging center scan volumes during this past year . However , total scan volume for quarter ended March 31 , 2021 was 44,515 , about the same as is was in the corresponding quarter one year ago . FONAR's subsidiary HMCA now has 39 MRI scanners under its management as compared to 36 scanners one year ago . Net Book Value per common share increased 7 % to $ 20.37 at March 31 , 2021 as compared to the corresponding quarter one year ago . MELVILLE , NEW YORK , May 13 , 2021 - FONAR Corporation ( NASDAQ - FONR ) , The Inventor of MR Scanning ™ , reported today its financial results for the 3rd Fiscal Quarter and Nine Months period ended March 31 , 2021. FONAR's primary source of income and growth is attributable to its diagnostic imaging management subsidiary , Health Management Company of America ( HMCA ) . Page 1