iCAD losses narrow; revenue increases in Q3

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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.