VirtualScopics Revenues Hit Another Quarterly Record
ROCHESTER, N.Y., Oct. 1 /PRNewswire-FirstCall/ -- VirtualScopics, Inc. (Nasdaq: VSCP), a provider of quantitative imaging for clinical trials, today announced revenues for the third quarter ended September 30, 2010 exceeded $3.5 million, representing a greater than 25% increase over the comparable period in 2009 and a greater than 9% growth over the preceding quarter ended June 30, 2010. Year-to-date revenues increased over 30% for the period ended September 30, 2010 compared to the same period in 2009.
"We are extremely pleased to deliver another quarter of record revenue," stated Jeff Markin, president and chief executive officer of VirtualScopics. "Our growth this year has been spurred by the demand for our services within later stage clinical trials and as a result, our 2010 year-to-date clinical trial revenues have already exceeded what we recognized for the full year in 2009." He added, "Our strong value proposition within the industry is one of the main contributors to our ability to report our 13th consecutive quarter of revenue growth." He concluded, "We are excited about our opportunities as we enter the fourth quarter and anticipate a solid close to 2010."
VirtualScopics plans to report its complete third quarter 2010 financial results on Thursday, November 11, 2010. Jeff Markin and Molly Henderson, VirtualScopics' Chief Business and Financial Officer, will provide a business update and discuss the third quarter results during the conference call that morning at 11:00 a.m. EST.
About VirtualScopics, Inc.VirtualScopics, Inc. is a leading provider of imaging solutions to accelerate drug and medical device development. VirtualScopics has developed a robust software platform for analysis and modeling of both structural and functional medical images. In combination with VirtualScopics' industry-leading experience and expertise i