iCAD shaves losses, boosts revenue

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Computer-aided detection (CAD) technology developer iCAD of Nashua, N.H., booked a nearly 60 percent increase in revenues and slashed net loss for its 2007 fiscal second quarter (end-June 30).

The company reported total revenue of $6.1 million for the second quarter of 2007 as compared with $3.9 million for the same period of 2006. Sales of iCAD's digital CAD products rose 131 percent over the prior year second quarter from $1.7 million to $4 million due to the continued strong demand for full-field digital mammography (FFDM) technology and CAD.

Net loss for the second quarter of 2007, including share-based compensation of $216,000, decreased to $866,000, a sharp turnaround compared with a net loss, including share-based compensation of $539,000, of $2.6 million in the second quarter of 2006.

For the second half of 2007, iCAD said it anticipates revenue in the range of $13.7 million to $14.7 million, equating to a full year revenue estimate of $26 million to $27 million.