Led by an increase in license fees, advanced visualization firm Vital Images added to its revenues and posted a profit in the first quarter of 2011 (end-March 31).
Revenue increased slightly to $14.9 million, compared with $14.8 million for the first quarter of 2010. The company also posted net income of $43,000, compared with a net loss of $1.1 million in the same quarter of 2010.
Last month, Vital Images signed a definitive agreement for Toshiba Medical Systems to buy the company for approximately $273 million in cash. The transaction is still pending and could close in the second or third quarter of this year.
