NOTE 5 - COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS

9 Months Ended

Mar. 31, 2018

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, 2018 and 2017

(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, 2018		June 30, 2017
Costs incurred on uncompleted contracts	$	448	$	1,031
Estimated earnings		310		999
Subtotal		758		2,030
Less: Billings to date		671		1,294
Total Costs and estimated earnings in excess of billings on uncompleted contracts	$	87	$	736

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

	March 31, 2018		June 30, 2017
Costs and estimated earnings in excess of billings on uncompleted contracts	$	87	$	736
Less: Billings in excess of costs and estimated earnings on uncompleted contracts		—		—
Total Costs and estimated earnings in excess of billings on uncompleted contracts	$	87	$	736