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Fonar posts 1Q profit

MELVILLE, N.Y. (AP) _ Fonar Corp. (FONR) on Thursday reported fiscal first-quarter earnings of $3.5 million.

The Melville, New York-based company said it had net income of 54 cents per share.

The MRI scanner designer posted revenue of $19.3 million in the period.

Fonar shares have risen 70 percent since the beginning of the year. The stock has more than doubled in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FONR at https://www.zacks.com/ap/FONR