Advanced visualization developer Vital Images of Minneapolis said a slowdown in overall medical imaging purchasing resulted in lower revenues for its third-quarter financial results.
For the third quarter (end-September 30), the company's revenue was down 4%, from $17.8 million in 2006 to $17.1 million in the most recent period. Its net income also dipped, from $1.6 million in the third quarter of 2006 to $927,000 during the same period this year.
The company attributed the downturn to a slowdown in the scanner and IT/PACS markets, as well as the effect of the Deficit Reduction Act (DRA) of 2005 on facilities' capital purchases.
By AuntMinnie.com staff writers
November 1, 2007
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