Disappointing international and direct sales were two reasons cited by advanced visualization developer Vital Images for lower revenues in its second quarter (end-June 30).
The Minnetonka, MN-based company's preliminary financial report estimates second-quarter revenues of approximately $15.1 million to $15.4 million, compared with $16.9 million in the second quarter of 2006.
Sales from distribution partner Toshiba America Medical Systems of Tustin, CA, decreased to $3.4 million in the second quarter, compared with $3.9 million in the same quarter a year ago. Sales through McKesson, Vital Images' Richmond, British Columbia-based partner in the IT/PACS market, were also down, the company said.
In addition, Vital Images estimated a second-quarter net loss of 2¢ to 5¢ per share, compared with net income of 9¢ per share in the same quarter last year.
The company also has revised its projected revenues for calendar year 2007 downward to $75 million to $80 million. Previous estimates projected revenues of $90 million to $95 million for 2007. Vital Images had revenues of $70.5 million in 2006.
By AuntMinnie.com staff writers
June 11, 2007
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