Vital Images closes gap on losses in Q4

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Vital Images reported its financial results for the fourth quarter of fiscal 2007, which ended Dec. 31, 2007.

For the quarter, the Minneapolis-based company reported revenue of $16.7 million, compared to $20 million in the fourth quarter of 2006.

Vital Images also booked a net loss of $1.6 million, which included a pre-tax charge of $885,000, related to the resignation of Jay Miller, the company's former president and CEO. This compares to net income of $2.3 million in the same quarter in 2006.

"While our 2007 results did not meet our expectations, in part because of an industry-wide slowdown and reimbursement pressures, revenue was in line with the prior year and we were profitable for the year," said Michael H. Carrel, Vital Images president and CEO.

Carrel said the company’s three top priorities for 2008 are to “re-ignite sales growth, continue to develop and deploy industry-leading software solutions, and take exceptional care of its customers.”