Vital skips into black for Q3
Vital Images, a developer of advanced visualization and image analysis software, has pulled into the black for the 2010 third quarter, which ended Sept. 30, compared with a net loss in the 2009 third quarter.
Third-quarter revenue was $14.9 million, compared with $14.3 million for the third quarter of 2009, according to the Minneapolis-based company. Third-quarter net income was $554,000, compared with a net loss of $750,000 for the third quarter of 2009.
"We are pleased with our year-over-year direct revenue growth," said Michael H. Carrel, Vital’s president and CEO. "We continue to see increased revenue from enterprise sales which offset decreased sales within the CT market. We are confident our cost management, strategic position and calculated investments will enable us to succeed in the market long term."
In addition, the company lowered its total operating expenses from $11.9 million in the 2009 third quarter to $10.8 million in this year’s third quarter.
Third-quarter revenue was $14.9 million, compared with $14.3 million for the third quarter of 2009, according to the Minneapolis-based company. Third-quarter net income was $554,000, compared with a net loss of $750,000 for the third quarter of 2009.
"We are pleased with our year-over-year direct revenue growth," said Michael H. Carrel, Vital’s president and CEO. "We continue to see increased revenue from enterprise sales which offset decreased sales within the CT market. We are confident our cost management, strategic position and calculated investments will enable us to succeed in the market long term."
In addition, the company lowered its total operating expenses from $11.9 million in the 2009 third quarter to $10.8 million in this year’s third quarter.