Vital initiates another stock repurchase program

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Vital Images' board of directors has approved a new share repurchase program, authorizing up to an additional one million shares of the advanced visualization software provider to be repurchased on the open market.

The Minneapolis-based company said its previous stock repurchase program--initiated in May 2008 and completed in February 2009--led to it  purchasing 2.9 million shares of its common stock for $40 million.

Upon completion of the share repurchase program, there were 14.5 million shares outstanding. As of Dec. 31, 2008, Vital said its cash and investments totaled $147 million.