Computer-aided detection (CAD) firm iCAD of Nashua, NH, reported lower revenues in the company's third quarter (end-September 30), as well as a net loss for the period.
For the quarter, iCAD posted sales of $5.6 million, down 21% compared to sales of $7.1 million in the corresponding quarter of 2009. The company recorded revenue of $3.3 million from its digital CAD and MRI CAD product, down 31% compared to $4.8 million in the third quarter of 2009.
iCAD turned in a net loss for the most recent quarter of $1.4 million, compared with net income of $113,000 in the same period of 2009.
For the nine months to date, iCAD recorded revenues of $18.2 million, down 10% compared to sales of $20 million in the first nine months of 2009. The company has a net loss so far this year of $3.3 million, compared with a net loss of $2.3 million in the first nine months of last year.
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