Advanced visualization firm Vital Images reported record first-quarter revenue of $15.8 million, up 39% compared with the $11.3 million booked in the first quarter of 2005. For the period (end-March 31), the Minneapolis-based company had net income of $1.4 million, compared with net income of $1 million a year ago.
Vital Images saw continued strength in enterprise and IT/PACS-related sales, and international sales also continue to be a strong contributor, said president and CEO Jay Miller.
In other news, Vital Images has raised its 2006 earnings guidance as a result of better than expected gross margins and lower than anticipated equity-based compensation. The firm continues to expect revenue in the range of $68 million to $71 million, but has increased its earnings per share expectation to 28¢ to 38¢ per share, up from previous guidance of 18¢ to 32¢ per share.
By AuntMinnie.com staff writers
May 2, 2006
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