iCAD losses narrow; revenue increases in Q3
iCAD has reported unaudited positive growth in revenue for its fiscal 2007 third quarter (ended Sept. 30); however it also posted losses for the period.
For the quarter, the Nashua, N.H.-based company reported total revenue of $6.3 million, a 24 percent increase compared to $5 million for same quarter last year. The company attributes part of the increased revenue to sales of digital solutions, which increased to $4 million from $3.1 million in the prior-year period; and sales of film-based analog products, which increased to $1.5 million from $1.3 million.
The company declared a decreased net loss for the third quarter of $682,000, compared with $1.1 million in the third quarter of 2006.
iCAD said it anticipates that operating expenses will be higher in the fourth quarter than previous quarters of 2007.
For the quarter, the Nashua, N.H.-based company reported total revenue of $6.3 million, a 24 percent increase compared to $5 million for same quarter last year. The company attributes part of the increased revenue to sales of digital solutions, which increased to $4 million from $3.1 million in the prior-year period; and sales of film-based analog products, which increased to $1.5 million from $1.3 million.
The company declared a decreased net loss for the third quarter of $682,000, compared with $1.1 million in the third quarter of 2006.
iCAD said it anticipates that operating expenses will be higher in the fourth quarter than previous quarters of 2007.