As Toshiba Medical Systems moves forward with its acquisition of Vital Images, on Tuesday Vital reported an increase in revenue for the first quarter of 2011 and a reversal of the net income losses it experienced in the first quarter of 2010.

First quarter net income was $43,000, or $0.00 per diluted share, compared to a net loss of $1.1 million, or $(0.08) per diluted share, for the first quarter of 2010. First quarter adjusted EBITDA was $1.3 million, consistent with the first quarter of 2010.

The Minneapolis-based company's total cash and investments were $140.5 million as of March 31, 2011, compared to $139.9 million as of December 31, 2010.