iCAD reports $2.7m 4Q loss

February 22, 2013

Bob Sanders,

Nashua-based iCAD lost $2.7 million, or 25 cents a share, for the fourth quarter and $9.4 million, or 87 cents a share, for the fiscal year, the company reported.

But the company did see an 18 percent increase in revenue in the fourth quarter, primarily from its brachytherapy products, which were obtained through iCAD's $13 million acquisition of Xoft in December 2010.This revenue growth might continue because the U.S. Centers for Medicare and Medicare Services issued an improved reimbursement policy in November — twice the amount announced in July.

"We believe this favorable reimbursement policy, together with a growing body of clinical data, will accelerate the adoption of our technology by breast surgeons and radiation oncologists," said Ken Ferry, president and CEO of iCAD.

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