As of P2003, there is no way to save a report for subsequent emailing. That functionality may be in P2007 but I haven't got a copy of it yet.
The work around is to install a PDF printer driver and then print the report using that driver. This will create an output file which you can email.
I presume that by "visual reports" you want something showing the Gantt chart.
View | Gantt
Change the filter to "Milestones"
On the 'Standard' toolbar, click the icon with the camera and fill in the appropriate parameters.