Three-dimensional-software developer Vital Images reported first-quarter revenues of $4.4 million, up 33% from the $3.3 million posted in the same period last year. For the quarter (end-March 31), the Plymouth, MN-based vendor had a net loss of $247,000, compared with a net loss of $622,000 in the first quarter of 2001.
President and CEO Jay Miller said that revenue from the company’s core revenue sources was particularly strong, including $2 million in revenues from its distribution agreement with Toshiba Medical Systems of Japan. Toshiba is offering Vital Images' Vitrea 2 software through its subsidiaries and distributors in the U.S. and more than 50 countries in Europe and Asia, excluding Japan.
Looking ahead, Vital Images expects 40% to 50% growth from its core revenue components business in 2002, Miller said. In addition, the firm said that it's pursuing new and expanded corporate partnerships and hopes to achieve modest profitability for the year.
By AuntMinnie.com staff writers
April 17, 2002
Related Reading
Vital Images inks new deal with Toshiba, March 14, 2002
Vital Images turns in record 2001, February 12, 2002
Vital Images promotes Miller to CEO, February 8, 2002
Vital Images nets $3.7 million, January 16, 2002
Copyright © 2002 AuntMinnie.com
