Vital Images booms

August 6, 2003

Medical software developer Vital Images achieved a 59% increase in second quarter 2003 revenues and triple the net income of the year-ago quarter. Revenues in Q2 rose to $7.5 million from $4.9 million. Core revenue components-software license fees and

Medical software developer Vital Images achieved a 59% increase in second quarter 2003 revenues and triple the net income of the year-ago quarter. Revenues in Q2 rose to $7.5 million from $4.9 million. Core revenue components-software license fees and maintenance and services-jumped to $6.7 million from $4.2 million. For the second quarter of 2003, the company reported net income of $666,000. Sales to Toshiba accounted for 35% of the company's second quarter revenue, or $2.6 million, compared with $1.4 million in the previous period. Company executives have boosted their 2003 guidance to predict between 45% and 50% growth in core revenue components, with earnings of $2.7 million to $3.1 million. They anticipate positive cash flow for the year.