New products boost iCAD's sales and earnings in the 3Q of FY04

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iCAD saw gains in its sales and earnings for the third quarter of FY04, ending September 30.

Sales were recorded at $6 million, compared with $1.4 million in the third quarter of FY03. Net income totaled $366,049, compared with a net loss of $5.4 million in the year-ago quarter.

For the nine-month period, sales reached $17 million, compared with $4.9 million in the first nine month of FY03. Net loss was recorded at $1.5 million, compared with $6.6 million in the year-ago period.

iCAD credits its improved financial performance to the roll out of its Second Look 200 computer-aided detection (CAD) system designed for small breast clinics. "The introduction of our new Second Look 200 system for  the early detection of breast cancer was the most successful product roll-out in our history," said W. Scott Parr, president/CEO. "The Second Look 200 offers a new level of value for mammography practices with lower daily case volumes."