Three-dimensional-software developer Vital Images reported fourth-quarter revenues of $4.6 million, up 51% from the $3 million posted in the fourth quarter of 2000. The Minneapolis-based vendor achieved profitability for the first time since the release of its Vitrea 3-D software in 1997, reporting net income of $144,000. In the fourth quarter of 2000, Vital Images had a net loss of $645,000.
For the year (end-December 31), Vital Images had record revenues of $15.2 million, up 43% compared with the $10.6 million reported in 2000. The firm had a net loss of $1 million, compared with a net loss of $2.6 million in 2000.
Looking ahead, president and CEO Jay Miller said that the firm is optimistic it can sustain revenue growth of 40% to 50% in its core revenue components (software license fees and maintenance and services) in 2002. In addition, he is optimistic that the firm can achieve modest profitability for the year.
By AuntMinnie.com staff writersFebruary 12, 2002
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Vital Images hires Miller as CEO, February 8, 2002
Vital Images nets $3.7 million, January 16, 2002
Vital Images rolls out Vitrea 2.6, December 21, 2001
Vital Images and Medtronic sign joint venture agreement, December 7, 2001
E-Z-EM signs pact with Vital Images, October 31, 2001
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