Advanced visualization developer Vital Images posted a 9% decrease in revenue in its fourth quarter.
For the period (end-December 31), the Minnetonka, MN-based vendor had revenue of $15.8 million, compared with $17.4 million in the fourth quarter of 2008. The company had a fourth-quarter net loss of $630,000, compared with a net loss of $386,000 in the same period a year ago.
For the year, Vital Images posted revenue of $58.2 million, down 14.5% from the $68.1 million turned in during 2008. The firm had a 2009 net loss of $21.3 million (including $18.1 million of noncash charges), compared with a 2008 net loss of $2.8 million.
The fourth quarter was the company's second quarter of sequential revenue growth, and Vital Images is cautiously optimistic that its markets are improving, according to President and CEO Michael Carrel. The company will continue its strategic investments in research and development, services, and diversifying its revenue base, he said.
Related Reading
Muduroglu joins Vital board, February 9, 2010
Medtronic launches 3D service with Vital, November 19, 2009
Vital Images employs new Intel server platform, November 10, 2009
Vital Images posts lower sales, higher loss, November 6, 2009
Vital Images, Sectra sign new deal, October 26, 2009
Copyright © 2010 AuntMinnie.com
