Advanced visualization software provider Vital Images reported record revenue of $11.3 million in its first quarter, up 45% compared with the $7.8 million turned in the first quarter of 2004. For the period (end-March 31), the Minneapolis-based firm had net income of $1 million, compared with a net loss of $1.4 million last year.
Vital Images cited strong growth across multiple distribution channels as a driving factor behind the gains, and the company is raising its 2005 annual guidance. The firm is now projecting 2005 revenue to range between $46 million and $48 million, a 27% to 33% increase over 2004 revenue of $36.1 million.
By AuntMinnie.com staff writers
May 5, 2005
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