iCAD losses up, revenues down in Q1
iCAD has reported that it lost $1.2 million in the first quarter of 2010, compared with the $1 million net loss posted in the same quarter a year ago.
During the 2010 first quarter, which ended March 31, the Nashua, N.H.-based company posted revenue of $6.5 million, nearly a 10 percent drop from the $7.2 million posted in the first quarter of 2009.
iCAD reported its digital computer-aided detection (CAD) and MRI CAD revenue of $4.2 million in the first quarter, compared with the $4.8 million reported a year ago, while film based revenue dropped to $1 million, down from the $1.6 million in the same quarter of 2009. Service and supply revenue of $1.3 million represented an increase from the $825,000 reported in the first quarter of 2009.
“We continued to make progress overall with our business while facing a cautious spending environment reflecting recent healthcare reform legislation and a modestly improving economy,” said Ken Ferry, president and CEO of iCAD. “While our comparative quarterly performance was less favorable than we may have anticipated, some meaningful progress is worth noting. “
During the 2010 first quarter, which ended March 31, the Nashua, N.H.-based company posted revenue of $6.5 million, nearly a 10 percent drop from the $7.2 million posted in the first quarter of 2009.
iCAD reported its digital computer-aided detection (CAD) and MRI CAD revenue of $4.2 million in the first quarter, compared with the $4.8 million reported a year ago, while film based revenue dropped to $1 million, down from the $1.6 million in the same quarter of 2009. Service and supply revenue of $1.3 million represented an increase from the $825,000 reported in the first quarter of 2009.
“We continued to make progress overall with our business while facing a cautious spending environment reflecting recent healthcare reform legislation and a modestly improving economy,” said Ken Ferry, president and CEO of iCAD. “While our comparative quarterly performance was less favorable than we may have anticipated, some meaningful progress is worth noting. “