Three-dimensional-software developer Vital Images reported record fourth-quarter revenue and a profitable 2002. For the fourth quarter (end-December 31), the Minneapolis-based vendor had revenue of $6.2 million, up 36% compared with the $4.5 million posted in the fourth quarter of 2001.
Vital Images had net income of $416,000, compared with net income of $144,000 in the same period last year. For the year, Vital Images had revenue of $21.1 million, up 39% compared with the $15.2 million in sales booked in 2001.
The vendor had 2002 net income of $790,000, the company's first-ever annual operating profit. In 2001, the company had a net loss of $1 million. In 2003, Vital Images anticipates revenue growth of 35% to 45%, with net income ranging between $2.5 million to $2.9 million, said president and CEO Jay Miller.
By AuntMinnie.com staff writersFebruary 11, 2003
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