Contributing substantial revenue growth to its acquisition of CADx Systems Inc. in December, computer aided technology firm iCAD Inc. released sales and earnings for the second fiscal quarter of FY04, ending June 30.
Sales increased to $5.6 million, compared with $1.3 million in the second quarter in 2004. Net income was $46,458, compared with a net loss of $1.3 million in the year-ago quarter.
For the six month period, sales increased to $11 million, compared with $3.5 million in the first half of FY03. Net loss was $1.85 million, compared with a net loss of $1.21 million in the year-ago period.
Commenting on the increase, iCAD President and CEO W. Scott Parr said, "Over the balance of 2004, our objective is to build on our achievements in the first six months of 2004, by aggressively marketing and promoting our new, lower-cost Second Look 200 systems for the early detection of breast cancer, and our ClickCAD fee-per-procedure programs that seek to make CAD technology affordable and accessible to smaller volume mammography clinics and all women at risk of breast cancer."