Nashua, NH-based computer-aided detection (CAD) developer iCAD saw revenues grow and its net loss shrink for its second quarter of 2007 (end-June 30).
Total revenue from sales of iCAD's digital mammography CAD products were $6.1 million for second quarter 2007, up 58% compared to $3.9 million for the same period in 2006. The firm's net loss for the period decreased to $866,000, compared to a net loss of $2.6 million in the second quarter of 2006.
Sales of iCAD's digital CAD products rose 131% over the prior year's second quarter, from $1.7 million to $4 million, due to demand for full-field digital mammography systems. Sales of film-based products decreased by 8% compared to 2006, from $1.4 million to $1.3 million, and service revenue rose 13% over the second quarter in 2006 from $745,000 to $841,000. The company's backlog rose 67% compared to 2006, from $900,000 to $1.5 million.
By AuntMinnie.com staff writers
August 9, 2007
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