Computer-aided detection (CAD) firm iCAD of Nashua, NH, reported growth in revenues and a lower net loss for the company's second quarter (end-June 30).
For the period, iCAD posted sales of $6.1 million, up 7% compared to sales of $5.7 million in the same period of 2009. The company's net loss for the quarter was $736,000, compared with a net loss of $1.4 million in the corresponding quarter of 2009.
For the six months to date, iCAD has posted revenue of $12.6 million, down 2% compared to sales of $12.9 million in the first six months of 2009. The company's net loss so far this year is $1.9 million, compared with a net loss of $2.4 million at the same point last year.
The company said it has seen signs of stabilization in the U.S. market, with consistent demand for digital mammography CAD software compared to the first quarter of the year. iCAD expects continued improvement in the second half of 2010 as one of its major OEM partners is awaiting U.S. Food and Drug Administration (FDA) clearance for a new digital mammography system, and was only able to ship a small quantity of its older system in the quarter.
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