Net losses at iCad Inc. (NSDQ:ICAD) widened during the first three months of 2010, as the medical imaging and software company saw revenues slip 9.7 percent from year-ago levels.
The Nashua, N.H.-based company reported a net loss of $1.2 million, or 3 cents per share, on $6.5 million in revenues during the three months ended March 31. That compares with a $1 million net loss, or 2 cents per share, on $7.5 million in revenues during the first quarter of 2009.
iCad Inc. (NSDQ:ICAD) won a patent from the U.S. Patent and Trademark Office for its SecondLook Digital Computer-Aided Detection system, covering "lesion metrics" used to provide radiologists with enhanced clinical information.
The Nashua, N.H.-based company, which makes CAD systems for detecting cancer, also won a patent for computed tomography image analysis software designed to improve three-dimensional assessment of imaging data, according to a press release.
Earnings at iCad Inc. (NSDQ:ICAD) changed little during the final quarter of 2009, despite an 11 percent drop in revenues from year-ago levels.
A sharp decline in film-based revenues coupled with falling sales for iCad’s digital computer-aided detection business undercut gains in service and supply revenues during the period. Film-related revenues fell $1 million, or 45 percent, to $1.2 million during the quarter from the $2.2 million reported last year, while sales within its digital computer operations dropped about $700,000, or 11 percent, to $5.6 million.
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