NOTE 5 - COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS

9 Months Ended

Mar. 31, 2017

Notes to Financial Statements

NOTE 5 - COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS

FONAR CORPORATION AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2017 and 2016

(Amounts and shares in thousands, except per share amounts)

(UNAUDITED)

NOTE 5 - COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS

Information relating to uncompleted contracts is as follows:

	March 31, 2017		June 30, 2016
Costs incurred on uncompleted contracts	$	1,031	$	894
Estimated earnings		999		491
Subtotal		2,030		1,385
Less: Billings to date		1,406		1,592
Total Costs and estimated earnings in excess of billings on uncompleted contracts	$	624	$	(207	)

Included in the accompanying condensed consolidated balance sheets under the following captions:

	March 31, 2017		June 30, 2016
Costs and estimated earnings in excess of billings on uncompleted contracts	$	649	$	—
Less: Billings in excess of costs and estimated earnings on uncompleted contracts		25		207
Total Costs and estimated earnings in excess of billings on uncompleted contracts	$	624		(207	)