Navigation Links
VirtualScopics Achieves Operating Cash Flow Breakeven in the Fourth Quarter 2008; Reports Record 2008 Revenue and Gross Profit
Date:2/25/2009

4th quarter gross profit grows by nearly 90%, operating loss reduced by 73%

ROCHESTER, N.Y., Feb. 25 /PRNewswire-FirstCall/ -- VirtualScopics, Inc. (Nasdaq: VSCP), a leading provider of quantitative imaging for clinical trials, announced today that revenues for the fourth quarter of 2008 were over $1.9 million, a 33% increase over prior year's fourth quarter. Revenues for the year ended December 31, 2008 were approximately $7.1 million compared to $5.6 million in the comparable period in 2007. The gross profit for the fourth quarter of 2008 was $973,522 compared to $513,361 in the fourth quarter of 2007, representing a 90% increase. Gross margin increased to 50%, in the fourth quarter ended December 31, 2008 compared to 35% in the fourth quarter of 2007, a 43% improvement. The Company's operating loss for the quarter ended December 31, 2008 was reduced by $828,536, or 73%, to $313,915 compared to $1,142,451 for the prior year's comparable period.

"We are extremely proud of the significant accomplishments we have made across many fronts in 2008," stated Jeff Markin, president and chief executive officer of VirtualScopics. "From a client perspective, we have expanded our customer base by securing contracts with an additional three leading pharmaceutical companies and have demonstrated a greater than 65% increase in the average size of new projects which now stands at $350,000. These two items, we believe, provide the best validation of our value proposition to the industry." He added, "On top of this confidence we are seeing from our customers, we also achieved our 2008 guidance in delivering a 50% gross margin in the fourth quarter, demonstrating the strength in our business model as we enter 2009."

The company announced additional highlights during 2008, including:

  • Greater tha
    '/>"/>

SOURCE VirtualScopics, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Page: 1 2 3 4 5 6 7

Related biology technology :

1. Nasdaq Grants VirtualScopics Request for Continued Listing
2. VirtualScopics Schedules Fourth Quarter 2008 Earnings Announcement
3. Pharsight Achieves First License Sale for Public-Source Database
4. GenoLogics Geneus Achieves GeneChip-compatible(TM) Status with the Affymetrix GeneChip(R) Microarray Platform
5. Sanofi Pasteurs Investigational H5N1 Influenza Vaccine Achieves High Immune Response at low Dosage
6. Signalife Achieves $1.98 Million Sales Orders Thus Far
7. Diplomat Specialty Pharmacy Health Services Division Achieves High Marks in Pilot Program for Chronic Kidney Disease Management
8. Dalton Medicinal Chemistry Partners Achieves Milestone in Collaboration with Boehringer Ingelheim (Canada) Ltd.
9. BioMS Medical achieves enrollment milestone in U.S. phase III multiple sclerosis trial
10. Sigma-Aldrich Achieves Double Accreditation as a Certified Reference Material Producer Following ISO/IEC 17025 and ISO Guide 34
11. NOLabs AB Achieves Break-Through in Fight Against MRSA-Bacteria
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/2/2014)... Orexigen Therapeutics, Inc. (Nasdaq: OREX ... Office (PTO) has issued a patent related to NB32, ... NB32 is a fixed-dose combination of naltrexone sustained release ... 8,815,889 claims methods for treating insulin resistance using a ... 2024. If NB32 is approved for use in ...
(Date:9/2/2014)... , Sept. 2, 2014 /PRNewswire/ - Oncothyreon Inc. (Nasdaq: ... M.D., President and Chief Executive Officer, will present at the ... in New York on Tuesday, Sept. ... live and archived webcast of the presentation will be accessible ... "News & Events" section. About Oncothyreon ...
(Date:9/2/2014)... , Sept. 2, 2014 /PRNewswire/ - BIOREM Inc. (TSXV: BRM) ("Biorem" ... million. The orders consist of three large odour control systems ... . "These orders are consistent with the market ... Peter Bruijns , President and CEO. "After a difficult period ... are now beginning to see sales growth. Our lower cost ...
(Date:9/2/2014)...  Spherix Incorporated (SPEX) -- an intellectual property development company committed ... announced that the United States Patent & Trademark Office ... month of August that are part of a standard ... patents are: , U.S.RE45,065 issued August ... and , U.S.RE45,095 issued August 26, 2014.  ...
Breaking Biology Technology:Orexigen Expands NB32 Intellectual Property Portfolio With New U.S. Patent 2Orexigen Expands NB32 Intellectual Property Portfolio With New U.S. Patent 3Orexigen Expands NB32 Intellectual Property Portfolio With New U.S. Patent 4United States Patent & Trademark Office Issues Three New Standard Essential Patents to Spherix 2
... release is available in German . ... with microelectronic components gradually being replaced by nanoelectronic ... the present stage the most commonly used material ... further miniaturization and technological progress. New electronic materials ...
... Rosei of the INRS Energy Materials Telecommunications Center has ... Friedrich Wilhelm Bessel Research Award given by the Alexander ... awards annually to young, high level researchers around the ... caliber and scope of his research in the field ...
... PharmAthene, Inc. (NYSE Amex: PIP ), a ... threats, today reported financial and operational results for the ... For the third quarter of 2010, PharmAthene ... in the same period of 2009.  For the nine ...
Cached Biology Technology:Step by step toward tomorrow's nanomaterial 2INRS professor Federico Rosei receives a 2010 Friedrich Wilhelm Bessel Research Award 2PharmAthene Reports Third Quarter 2010 Financial and Operational Results 2PharmAthene Reports Third Quarter 2010 Financial and Operational Results 3PharmAthene Reports Third Quarter 2010 Financial and Operational Results 4PharmAthene Reports Third Quarter 2010 Financial and Operational Results 5PharmAthene Reports Third Quarter 2010 Financial and Operational Results 6PharmAthene Reports Third Quarter 2010 Financial and Operational Results 7
(Date:9/2/2014)... New research suggests that professional baseball pitchers with poor ... days in a single season because of injury than are ... back and pelvis. , In the study, 347 pitchers were ... tilt in their pelvis as they raised a leg to ... miss at least 30 days cumulative, not consecutive ...
(Date:9/2/2014)... issue of The FASEB Journal , ... the leading cause of blindness in adults, diabetic ... advance involves quantifying the early molecular changes caused ... Using new probes developed by scientists, they were ... diabetic retinopathy. , "My goal is to establish ...
(Date:9/2/2014)... 2, 2014 Best-selling author Sam Kean stops by ... Megalodon, the 50-foot super shark that, despite what "Shark ... Learn all about it at http://youtu.be/KhFygIoW_MA . , ... of Madness, Love and the History of the World ... the Reactions treatment in a 10-episode video series produced ...
Breaking Biology News(10 mins):In pro baseball pitchers, weak core linked to more missed days 2In pro baseball pitchers, weak core linked to more missed days 3Molecular probes permit doctors to detect diabetic retinopathy before vision fails 2
... The apparently random self-assembly of molecular threads into the ... frantic than previously thought, Michigan State University scientists say. ... the nature of some diseases. How proteins spontaneously ... wide variety of functional or malfunctioning three-dimensional ...
... A phylogenetic analysis can take a long time to ... efficiently and effectively. The National Institute for Mathematical and ... focusing on high performance computing (HPC) for phylogenetics. ... to use TeraGrid, the CIPRES Portal, the iPlant Discovery ...
... The American Physical Society (APS) announces a new public ... public libraries in the United States full use of ... back to the first issue in 1893, a collection ... provide this access at no cost to participating public ...
Cached Biology News:Scientists post lower speed limit for cell-signaling protein assembly 2
Anti-Human Factor XI Purified (Polyclonal) (sheep IgG)...
...
This antibody detects an ~25 kDa band, corresponding to the expected molecular mass of Rab3A, on immunoblots. The antibody specificity is confirmed in peptide inhibition immunoblotting studies....
HLA II DG+DR+DP Monoclonal Antibody, Purified, Unconjugated, Clone: IQU9 This antibody is specific for the monomorphic determinant of the HLA Class II beta chains of the human MHC (28 kDa)....
Biology Products: