Recently, a new speckle noise reduction and contrast enhancement technique has been introduced that is motivated by the research in compressive sampling or sensing. Compressive sampling is based on the principle that a sparse signal such as ultrasound can be fully recovered when sampled below the Nyquist rate. This allows for a new noise reduction technique that preserves the high frequency and fine details while reducing the effects of speckle noise. This method improves the overall perceptual quality of the image for visualization and diagnosis by the radiologist. This paper examines how the improvement in SNR makes the method suitable as a preprocessor to improve a computer aided detection (CAD) system for breast cancer detection. Classical performance metrics such as false positive rates, false negative rates and receiver operator curves will be used to show the benefits of this approach. Initial experiments look promising for microcalcification detection, where the new method yields a false negative rate of 20 percent at a false positive rate of 0.5 percent while the traditional speckle reduction techniques yield a false negative rate of 60 percent at a false positive rate of 0.5 percent.