Continued growth in digital, film-based analog, and service and supply revenues lifted computer-aided detection (CAD) developer iCAD to improved numbers in the Nashua, NH-based company's third quarter.
For the period (end-September 30), revenues increased 24% to $6.3 million, compared with $5 million in the third quarter of 2006. The company's net loss narrowed to $682,000, compared with a net loss of $1.1 million in the same quarter year ago.
For the nine-month period, revenues increased 39% to $18.5 million, compared with $13.3 million in the same period of 2006. The net loss decreased to $2.1 million, compared with a net loss of $5.3 million in the same period last year.
iCAD also noted that it expects 2007 total revenues to be in the range of $26 million to
$27 million. The projection does not include any potential revenue from the sale of iCAD's SecondLook Digital and TotalLook products to Stamford, CT-based Fujifilm Medical Systems USA in the U.S.
By AuntMinnie.com staff writers
November 2, 2007
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