10-Q Filing

ICAD INC CIK: 749660 Q3 2011

Filing Information

Form Type	10-Q
Accession Number	`0000950123-11-097624`
Period End Date	20110930
Filing Date	20111110
Fiscal Year	2011
Fiscal Period	Q3
XBRL Instance	icad-20110930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 71 Cash Flow Statement 52

Balance Sheet 74 line items

Line Item	Tag	Value	Unit	Period
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.29M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.27M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$18.12M	USD	Point-in-time
Allowance for doubtful accounts on trade accounts receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$50.00K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$16.25M	USD	Point-in-time
Allowance for doubtful accounts on trade accounts receivables	`AllowanceForDoubtfulAccountsReceivableCurrent`	$50.00K	USD	Point-in-time
Property and equipment, net of accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$2.60M	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $50 in 2011 and 2010	`AccountsReceivableNetCurrent`	$3.39M	USD	Point-in-time
Trade accounts receivable, net of allowance for doubtful accounts of $50 in 2011 and 2010	`AccountsReceivableNetCurrent`	$5.66M	USD	Point-in-time
Property and equipment, net of accumulated depreciation and amortization	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$2.85M	USD	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetOfAccumulatedAmortization`	$6.75M	USD	Point-in-time
Intangible assets, net of accumulated amortization	`IntangibleAssetsNetOfAccumulatedAmortization`	$8.32M	USD	Point-in-time
Inventory, net	`InventoryNet`	$3.49M	USD	Point-in-time
Inventory, net	`InventoryNet`	$2.13M	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpensesAndOtherCurrentAssets`	$576.00K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpensesAndOtherCurrentAssets`	$581.00K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$13.65M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$23.73M	USD	Point-in-time
Property and equipment, net of accumulated depreciation and amortization of $2,600 in 2011 and $2,852 in 2010	`PropertyPlantAndEquipmentNet`	$2.77M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Property and equipment, net of accumulated depreciation and amortization of $2,600 in 2011 and $2,852 in 2010	`PropertyPlantAndEquipmentNet`	$2.12M	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$675.00K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$604.00K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	1.00M	shares	Point-in-time
Intangible assets, net of accumulated amortization of $8,317 in 2011 and $6,746 in 2010	`IntangibleAssetsNetExcludingGoodwill`	$21.16M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Intangible assets, net of accumulated amortization of $8,317 in 2011 and $6,746 in 2010	`IntangibleAssetsNetExcludingGoodwill`	$17.58M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Goodwill	`Goodwill`	$20.91M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Goodwill	`Goodwill`	$45.69M	USD	Point-in-time
Total assets	`Assets`	$54.87M	USD	Point-in-time
Common stock, share authorized	`CommonStockSharesAuthorized`	85.00M	shares	Point-in-time
Common stock, share authorized	`CommonStockSharesAuthorized`	85.00M	shares	Point-in-time
Total assets	`Assets`	$94.03M	USD	Point-in-time
Common stock, share issued	`CommonStockSharesIssued`	54.75M	shares	Point-in-time
Common stock, share issued	`CommonStockSharesIssued`	54.38M	shares	Point-in-time
Common stock, share outstanding	`CommonStockSharesOutstanding`	54.68M	shares	Point-in-time
Common stock, share outstanding	`CommonStockSharesOutstanding`	54.32M	shares	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	67,876.00	shares	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.50M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.41M	USD	Point-in-time
Treasury stock, shares	`TreasuryStockShares`	67,876.00	shares	Point-in-time
Accrued and other expenses	`AccruedAndOtherExpenses`	$5.90M	USD	Point-in-time
Accrued and other expenses	`AccruedAndOtherExpenses`	$4.52M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$5.70M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$4.91M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$13.31M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.63M	USD	Point-in-time
Contingent consideration	`ContingentConsideration`	-	USD	Point-in-time
Contingent consideration	`ContingentConsideration`	$5.00M	USD	Point-in-time
Deferred revenue, long-term portion	`DeferredRevenueNoncurrent`	$961.00K	USD	Point-in-time
Deferred revenue, long-term portion	`DeferredRevenueNoncurrent`	$1.63M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$1.00M	USD	Point-in-time
Other long-term liabilities	`OtherLiabilitiesNoncurrent`	$1.55M	USD	Point-in-time
Total liabilities	`Liabilities`	$20.82M	USD	Point-in-time
Total liabilities	`Liabilities`	$15.26M	USD	Point-in-time
Preferred stock, $ .01 par value: authorized 1,000,000 shares; none issued	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, $ .01 par value: authorized 1,000,000 shares; none issued	`PreferredStockValue`	-	USD	Point-in-time
Common stock, $.01 par value: authorized 85,000,000 shares; issued 54,751,176 in 2011 and 54,383,747 in 2010; outstanding 54,683,300 in 2011 and 54,315,871 in 2010	`CommonStockValue`	$547.00K	USD	Point-in-time
Common stock, $.01 par value: authorized 85,000,000 shares; issued 54,751,176 in 2011 and 54,383,747 in 2010; outstanding 54,683,300 in 2011 and 54,315,871 in 2010	`CommonStockValue`	$544.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$163.10M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$163.78M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-123.76M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-89.48M	USD	Point-in-time
Treasury stock at cost (67,876 shares)	`TreasuryStockValue`	$950.00K	USD	Point-in-time
Treasury stock at cost (67,876 shares)	`TreasuryStockValue`	$950.00K	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$39.61M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$73.21M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$94.03M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$54.87M	USD	Point-in-time

Income Statement 71 line items

Line Item	Tag	Value	Unit	Period
Products	`SalesRevenueGoodsNet`	$5.75M	USD	1 Quarter
Products	`SalesRevenueGoodsNet`	$13.99M	USD	3 Qtrs
Products	`SalesRevenueGoodsNet`	$15.46M	USD	3 Qtrs
Products	`SalesRevenueGoodsNet`	$4.06M	USD	1 Quarter
Service and supplies	`SalesRevenueServicesNet`	$6.58M	USD	3 Qtrs
Service and supplies	`SalesRevenueServicesNet`	$1.53M	USD	1 Quarter
Service and supplies	`SalesRevenueServicesNet`	$4.22M	USD	3 Qtrs
Service and supplies	`SalesRevenueServicesNet`	$2.30M	USD	1 Quarter
Total revenue	`SalesRevenueNet`	$22.04M	USD	3 Qtrs
Total revenue	`SalesRevenueNet`	$8.05M	USD	1 Quarter
Total revenue	`SalesRevenueNet`	$5.59M	USD	1 Quarter
Total revenue	`SalesRevenueNet`	$18.20M	USD	3 Qtrs
Products	`CostOfGoodsSold`	$1.77M	USD	3 Qtrs
Products	`CostOfGoodsSold`	$3.63M	USD	3 Qtrs
Products	`CostOfGoodsSold`	$1.28M	USD	1 Quarter
Products	`CostOfGoodsSold`	$544.00K	USD	1 Quarter
Service and supplies	`CostOfServices`	$587.00K	USD	1 Quarter
Service and supplies	`CostOfServices`	$1.79M	USD	3 Qtrs
Service and supplies	`CostOfServices`	$2.19M	USD	3 Qtrs
Service and supplies	`CostOfServices`	$650.00K	USD	1 Quarter
Amortization of acquired intangibles	`AmortizationOfIntangibleAssets`	$700.00K	USD	3 Qtrs
Amortization of acquired intangibles	`AmortizationOfIntangibleAssets`	$233.00K	USD	1 Quarter
Total cost of revenue	`CostOfGoodsAndServicesSold`	$2.16M	USD	1 Quarter
Total cost of revenue	`CostOfGoodsAndServicesSold`	$6.52M	USD	3 Qtrs
Total cost of revenue	`CostOfGoodsAndServicesSold`	$3.56M	USD	3 Qtrs
Total cost of revenue	`CostOfGoodsAndServicesSold`	$1.13M	USD	1 Quarter
Gross profit	`GrossProfit`	$15.52M	USD	3 Qtrs
Gross profit	`GrossProfit`	$5.89M	USD	1 Quarter
Gross profit	`GrossProfit`	$14.64M	USD	3 Qtrs
Gross profit	`GrossProfit`	$4.46M	USD	1 Quarter
Engineering and product development	`ResearchAndDevelopmentExpense`	$4.80M	USD	3 Qtrs
Engineering and product development	`ResearchAndDevelopmentExpense`	$2.63M	USD	1 Quarter
Engineering and product development	`ResearchAndDevelopmentExpense`	$8.71M	USD	3 Qtrs
Engineering and product development	`ResearchAndDevelopmentExpense`	$1.72M	USD	1 Quarter
Marketing and sales	`SellingAndMarketingExpense`	$2.35M	USD	1 Quarter
Marketing and sales	`SellingAndMarketingExpense`	$3.11M	USD	1 Quarter
Marketing and sales	`SellingAndMarketingExpense`	$7.36M	USD	3 Qtrs
Marketing and sales	`SellingAndMarketingExpense`	$10.78M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$1.80M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$6.13M	USD	3 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$2.15M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$8.36M	USD	3 Qtrs
Contingent consideration	`ContingentConsiderationOperatingExpenses`	$-4.90M	USD	3 Qtrs
Contingent consideration	`ContingentConsiderationOperatingExpenses`	$-3.80M	USD	1 Quarter
Goodwill impairment	`GoodwillImpairmentLoss`	$26.75M	USD	3 Qtrs
Goodwill impairment	`GoodwillImpairmentLoss`	$26.75M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$30.84M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$49.70M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$5.87M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$18.29M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-3.65M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-1.41M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-24.95M	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-34.18M	USD	3 Qtrs
Gain on sale of patent	`GainLossOnDispositionOfIntangibleAssets`	$275.00K	USD	3 Qtrs
Interest (expense) income - net	`InterestExpenseIncomeNet`	$-99.00K	USD	3 Qtrs
Interest (expense) income - net	`InterestExpenseIncomeNet`	$58.00K	USD	3 Qtrs
Interest (expense) income - net	`InterestExpenseIncomeNet`	$19.00K	USD	1 Quarter
Interest (expense) income - net	`InterestExpenseIncomeNet`	$-37.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-3.31M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-34.28M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-24.98M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.39M	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.07	USD	3 Qtrs
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.46	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.03	USD	1 Quarter
Basic and diluted	`EarningsPerShareBasicAndDiluted`	$-0.63	USD	3 Qtrs
Basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted`	45.92M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted`	54.68M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted`	54.53M	shares	3 Qtrs
Basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasicAndDiluted`	45.78M	shares	3 Qtrs

Cash Flow Statement 52 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-3.31M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-34.28M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-24.98M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.39M	USD	1 Quarter
Depreciation	`Depreciation`	$367.00K	USD	3 Qtrs
Depreciation	`Depreciation`	$813.00K	USD	3 Qtrs
Amortization	`AdjustmentForAmortization`	$1.57M	USD	3 Qtrs
Amortization	`AdjustmentForAmortization`	$875.00K	USD	3 Qtrs
Loss on disposal of assets	`GainLossOnDispositionOfAssets`	$-21.00K	USD	3 Qtrs
Goodwill impairment	`GoodwillImpairmentLoss`	$26.75M	USD	3 Qtrs
Goodwill impairment	`GoodwillImpairmentLoss`	$26.75M	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$684.00K	USD	3 Qtrs
Stock based compensation	`ShareBasedCompensation`	$1.26M	USD	3 Qtrs
Gain on sale of patent	`GainLossOnDispositionOfIntangibleAssets`	$275.00K	USD	3 Qtrs
Interest on royalty obligation	`InterestOnRoyaltyObligation`	$122.00K	USD	3 Qtrs
Fair value of contingent consideration	`FairValueOfContingentConsideration`	$4.90M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.57M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$2.27M	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-393.00K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-1.36M	USD	3 Qtrs
Prepaid expenses, other current assets and deposits	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-75.00K	USD	3 Qtrs
Prepaid expenses, other current assets and deposits	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$79.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-255.00K	USD	3 Qtrs
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-93.00K	USD	3 Qtrs
Accrued salaries, warranty and other expenses	`IncreaseDecreaseInAccruedLiabilities`	$499.00K	USD	3 Qtrs
Accrued salaries, warranty and other expenses	`IncreaseDecreaseInAccruedLiabilities`	$-703.00K	USD	3 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$1.38M	USD	3 Qtrs
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$877.00K	USD	3 Qtrs
Net cash (used for) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-9.46M	USD	3 Qtrs
Net cash (used for) provided by operating activities	`NetCashProvidedByUsedInOperatingActivities`	$1.92M	USD	3 Qtrs
Additions to patents, technology and other	`PaymentsToAcquireIntangibleAssets`	$9.00K	USD	3 Qtrs
Additions to patents, technology and other	`PaymentsToAcquireIntangibleAssets`	$28.00K	USD	3 Qtrs
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$233.00K	USD	3 Qtrs
Additions to property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$232.00K	USD	3 Qtrs
Proceeds from sale of patent	`ProceedsFromSaleOfIntangibleAssets`	$275.00K	USD	3 Qtrs
Cash paid for acquisition of Xoft	`PaymentsToAcquireBusinessesNetOfCashAcquired`	$1.27M	USD	3 Qtrs
Net cash (used for) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$15.00K	USD	3 Qtrs
Net cash (used for) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.51M	USD	3 Qtrs
Taxes paid related to restricted stock issuance	`TaxesPaidRelatedToRestrictedStockIssuance`	$70.00K	USD	3 Qtrs
Taxes paid related to restricted stock issuance	`TaxesPaidRelatedToRestrictedStockIssuance`	$7.00K	USD	3 Qtrs
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-70.00K	USD	3 Qtrs
Net cash used for financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-7.00K	USD	3 Qtrs
Increase (decrease) in cash and equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-10.98M	USD	3 Qtrs
Increase (decrease) in cash and equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.87M	USD	3 Qtrs
Cash and equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$5.29M	USD	Point-in-time
Cash and equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$16.27M	USD	Point-in-time
Cash and equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$18.12M	USD	Point-in-time
Cash and equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$16.25M	USD	Point-in-time
Cash and equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$5.29M	USD	Point-in-time
Cash and equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$16.27M	USD	Point-in-time
Cash and equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$18.12M	USD	Point-in-time
Cash and equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$16.25M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.