Computer-aided detection (CAD) firm iCAD posted a decline in fourth-quarter revenues, but the Nashua, NH, company kept net income steady for the period (end-December 31).
For the quarter, iCAD posted revenues of $8.1 million, down 13% compared to revenues of $9.3 million in the fourth quarter of 2008. The company recorded net income for the most recent period of $317,000, down slightly compared to net income of $321,000 in the corresponding quarter of 2008.
For the full year, iCAD reported revenues of $28.1 million, down 25% compared to $37.5 million in sales for 2008. The company posted a net loss for the year of $2 million, compared with net income of $4.4 million in 2008.
The company said the fourth quarter marked its second straight period of revenue growth, and the firm was generating positive cash flow despite the difficult economy.
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