Advanced visualization application developer Vital Images posted a downturn in sales and profits in its financial results for the third quarter, which ended Sept. 30.
The Minneapolis-based company booked third quarter revenues of $14.3 million, a slump of $3.4 million compared with sales of $17.7 million for the third quarter of 2008. The firm also saw an uptick in losses for the period, to $750,000, compared with a net loss of $243,000 in the same quarter last year.
The firm said its total cash and investments were $140.3 million as of Sept. 30, compared with $141.1 million as of June 30, 2009. The company repurchased 30,000 shares of its common stock for $323,000 during the quarter as part of a share repurchase program.