Vital Images, a developer of advanced visualization and analysis software, has narrowed its losses for the fourth quarter, which ended Dec. 31, 2010, and its 2010 fiscal year.
Fourth quarter net income was $1.2 million compared with a net loss of $630,000 for the fourth quarter of 2009. The company said its net loss was $966,000 for 2010, compared with a net loss of $21.3 million, which included $18.1 million of non-cash charges in 2009.
Fourth quarter revenue was $16.1 million, compared with $15.8 million for the fourth quarter of 2009, according to Minneapolis-based Vital. For the full year of 2010, revenue was $59.7 million, compared with $58.2 million in 2009.
The company's total cash and investments were $139.9 million as of Dec. 31, 2010, compared to $137.9 million as of Sept. 30, 2010.
"Vital Images is a stronger company than it was several years ago," said Michael H. Carrel, Vital's president and CEO. "Because of our enterprise approach, diversification of revenue channels and partner- and customer-focused strategies, we are well positioned to capitalize on medical imaging opportunities in radiology and adjacent specialties."