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news.iCAD has reported revenue of $6.37m for the fourth quarter ended 31 December 2010, a decrease of 21%, compared to $8.11m for the same period in 2009.
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The company posted a net loss of $2.91m, compared to a net income of $0.32m for the same period in 2009.
For the full year ended 31 December 2010, the company posted revenue of $24.58m, compared to $28.11m for the same period in 2009.
iCAD has reported net loss was $6.22m, compared to $1.97m for the same period in 2009.
The company expects 2011 total revenue to be in the range of $34m to $38m, with a gross margin in the low to mid 70% range.
iCAD president and CEO Ken Ferry said throughout 2010 and in the face of continuing marketplace challenges, iCAD made significant progress in commercializing new products, advancing product development initiatives, and in maintaining the operational excellence and financial discipline that allowed us to expand gross margins and maintain positive cash flow.
"Importantly, we executed on our strategic directive to broaden our footprint in oncology with the acquisition of Xoft, which allows us to bring targeted technologies to cancer patients throughout the continuum of care, from detection to diagnosis to treatment to therapy monitoring," Ferry said.