Melville-based Fonar's 2Q profits rise 33%
Photo credit: Newsday/Karen Wiles Stabile | Dr. Raymond Damadian, president and chairman of Fonar, stands near one of the Melville firm’s signature products, its upright MRI machine that allows patients to be scanned while seated. (Feb.14, 2012)
Fonar Corp., which makes magnetic imaging machines that allow patients to sit up during the test rather than lie down, reported a 33 percent rise in profits in its fiscal second quarter Tuesday, creating a frenzy among investors trading the company's stock.
More than 4 million shares were traded Tuesday -- the average daily trading volume is 32,730 shares -- as Fonar's stock rose 14.43 percent...
