Vital Images, a provider of enterprise-wide visualization and analysis solutions, has reported a net loss of $1.6 million for the 2008 second quarter, which ended June 30, compared to a net loss of $379,000 for the second quarter of 2007.
However, the company posted $15.7 million in revenue for the second quarter of 2008, compared to $15.5 million for the second quarter of 2007.
Second quarter 2008 operating expenses totaled $15.8 million, compared to $14.8 million for the same quarter in 2007, according to the Minneapolis-based Vital. Sales and marketing expenses consumed $8.1 million of the expenses for the second quarter, compared to $7.5 million for the same quarter last year.
“The marketplace in 2008 is seeing many challenges. However, even in the face of this tough market, we are growing our pipeline significantly due to our new ViTAL Enterprise offering,” said Michael H. Carrel, Vital’s president and CEO.
Along with the release of its financials, Carrel announced an additional $15 million for the share repurchase program. “During the second quarter, we completed $14.1 million of our share repurchase program, and we expect to complete the remainder of the $40 million program this year,” he added.