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VirtualScopics, Inc. Reports a Record Breaking Quarter
Date:8/12/2009

(unaudited) For the Three Months For the Six Months Ended June 30, Ended June 30, 2009 2008 2009 2008 Revenues $2,541,316 $1,733,299 $4,675,685 $3,367,402 Cost of services 1,147,980 1,021,536 2,162,564 2,051,520 --------- --------- --------- --------- Gross profit 1,393,336 711,763 2,513,121 1,315,882 --------- ------- --------- --------- Gross margin 55% 41% 54% 39% Operating expenses Research and development 258,180 212,825 493,735 464,654 Sales and marketing 357,222 384,237 639,676 673,111 General and administrative 590,496 580,435 1,149,843 1,074,876 Stock-based compensation expense 269,016 284,228 554,348 687,291 Depreciation and amortization 119,126 116,765 236,636 234,332 ------- ------- ------- ------- Total operating expenses 1,594,040 1,578,490 3,074,238 3,134,264 --------- --------- --------- --------- Operating loss (200,704) (866,727) (561,117) (1,818,382) Other income (expense) Interest income 87 17,002 3,280 45,727 Other expense (6,592) (1,385) (8,076) (2,968) Loss on derivative financial instrument (205,914) - (603,323) - -------- --- -------- --- Total other (expense) income
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SOURCE VirtualScopics, Inc.
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