Advanced visualization firm Vital Images of Minnetonka, MN, posted a revenue decline in its first-quarter financial results (end-March 31), although the firm's net loss narrowed for the period.
The company reported first-quarter revenue of $14.8 million, down 14% compared to $17.3 million for the same period in 2008. The company's net loss was $251,000, down 58% compared to $594,000 in the first quarter of last year.
Vital Images attributed the revenue decline to the global economic downturn, which has caused hospitals to delay capital equipment purchases. However, the company has reduced expenses to improve its profitability.
Related Reading
Vital Images gets SSPA certification, April 1, 2009
Vital Images, Toshiba ink development pact, January 13, 2009
Vital Images, Toshiba extend pact, November 21, 2008
Vital Images posts Q3 net loss, cuts staff, November 7, 2008
Road to RSNA, Advanced Visualization, Vital Images, November 6, 2008
Copyright © 2009 AuntMinnie.com
