Implied do statement in a read statement written in fortran

I am working on some old code. More precisely what that code does. It is written in fortran95.

The bit I am interested in is this:

1 read(09,'(52x,i6,i4,12i2)',end=2)hj,fix(1),(fix(k),k=4,15)
some data wrangling
goto 1
2 continue

What I think this does is that 1 line of the input is read and assigns these values to these temporary objects, the scalar hj, and the array fix(1) and fix(4:15). It then does some data wrangling which are not important and then goes back via this goto statement, reads the next line, until it hits end of file (EOF), where it is pointed towards segment 2.

My question is twofold:

1. Is this understanding correct?
2. Is there any utility in this from a performance standpoint?