iCADs losses slip further

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Computer-aided detection (CAD) and radiotherapy company iCAD posted a net loss of $4.20 million in the first quarter (Q1) of 2011, compared with losses totaling $1.18 million in Q1 of last year.

Despite an $823,000 increase in total revenue, driven by $1.3 million in sales of the company’s Axxent eBx Electronic Brachytherapy System, iCAD’s total costs hit $11.52 million for Q1 of 2011. Total revenue for Q1 of 2011 reached $7.34 million.

As a result, the Nashua, N.H. company’s share prices slipped $0.08, sliding further than the $0.03 loss to shares in Q1 of 2010. iCAD’s total operating expenses reached $9.97 million in Q1 of 2011, up from $6.88 million in the same quarter of 2010.