The Medical Device Business Journal — Medical Device News & Articles | MassDevice
iCAD, Inc. (NSDQ:ICAD) posted a 6.4 percent increase in second-quarter sales and narrowed its net losses by 47.4 percent.
The Nashua, N.H.-based firm, which makes CAD software for cancer detection systems, reported net losses of $736,000, or 2 cents per share, on sales of $6.1 million during the three months ended June 30. That compares with net losses of $1.4 million, or 3 cents per share, on sales of $5.7 million during the same period last year.
iCAD Inc. (NSDQ:ICAD) won a contract with the U.S. Defense and Veterans Affairs departments to sell its cancer detection devices to the 400 treatment facilities under the agencies’ auspices.
The Nashua, N.H.-based company, which designs image analysis equipment for the early identification of cancer, entered the agreement with the Defense Supply Center to provide federal healthcare facilities, including Veteran’s Administration and Dept. of Defense hospitals with its computer-aided mammography technology for.
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.
