iCAD Reports Fourth Quarter and Full Year 2007 Financi...(chnology and we see strong potentialfor ...),Health

Date:3/6/2008

chnology and we see strong potential for international growth in this area as well. CAD purchases are running nearly one-to-one with full- field digital mammography systems, underscoring the clinical and workflow benefits derived from CAD. We remain confident that iCAD will maintain a leadership position in digital CAD and we will continue to capitalize on this growing market opportunity."

2007 Fourth Quarter Results

Total revenue for the fourth quarter of 2007 was a record $8.1 million, a 26% increase compared with total revenue of $6.4 million for the fourth quarter of 2006. The increase was a result of continued high growth in the Company's digital products revenue, as well as solid growth in film-based product revenue and service revenue. The gross margin for the fourth quarter of 2007 increased to 80.5% from 79.2% in the prior-year fourth quarter. Operating expenses for the fourth quarter declined by 8%, to $5.9 million, as compared to $6.4 million for the fourth quarter of 2006. Net income for the fourth quarter of 2007, including stock based compensation expense of $378,000, was $525,000 or $0.01 per diluted share, compared with a net loss, including stock based compensation expense of $567,000, of $1.4 million or a loss of $0.04 per share in the fourth quarter of 2006, and marks the company's first profitable quarter since the first quarter of 2005.

For the fourth quarter of 2007, sales of iCAD's digital products increased 42% to $5.0 million from $3.5 million in the prior-year period. Sales of film-based products increased 4% to $2.2 million from $2.1 million, and service revenue rose 10% to $896,000 from $815,000, both compared with fourth quarter 2006 results.

Three Months Ended December 31,

2007 2006 % Change

Digital revenue $5,024,374 $3,535,315 42.1%

Film based revenue 2,180,740
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SOURCE iCAD, Inc. Copyright©2008 PR Newswire. All rights reserved

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