NOTE 5 - COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS

6 Months Ended

Dec. 31, 2016

Notes to Financial Statements

NOTE 5 - COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS

FONAR CORPORATION AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

DECEMBER 31, 2016 and 2015

(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:

	December 31, 2016			June 30, 2016
Costs incurred on uncompleted contracts	$	723		$	894
Estimated earnings		594			491
Subtotal		1,317			1,385
Less: Billings to date		1,493			1,592
Total Costs and estimated earnings in excess of billings on uncompleted contracts	$	(176	)	$	(207	)

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

	December 31, 2016			June 30, 2016
Costs and estimated earnings in excess of billings on uncompleted contracts	$	—		$	—
Less: Billings in excess of costs and estimated earnings on uncompleted contracts		176			207
Total Costs and estimated earnings in excess of billings on uncompleted contracts	$	(176	)	$	(207	)