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VirtualScopics Reports 2nd Quarter 2012 Results
Date:8/14/2012

and Exchange Commission (the "SEC"), and in any subsequent reports filed with the SEC, all of which are available at the SEC's website at www.sec.gov. These include without limitation: the risk of cancellation or delay of customer contracts or specifically as it relates to contact awards, the risk that they may not get signed.  Other risks include the company's dependence on its largest customers and risks of contract performance, protection of our intellectual property and the risks of infringement of the intellectual property rights of others. All forward-looking statements speak only as of the date of this press release and the Company undertakes no obligation to update such forward-looking statements.

-Financial tables to follow-CONTACT: Investor Relations:Company Contact:Tim Ryan

Molly HendersonThe Shoreham Group 

Chief Business and Financial Officer, Sr. Vice President80 Eighth Ave, Ste 1107

500 Linden OaksNew York, NY 10011

Rochester, New York 14625+1 212 242.7777 Direct

+1 585 249.6231tryan@shorehamgroupllc.com   

 VirtualScopics, Inc. and SubsidiaryCondensed Consolidated Statements of Operations (unaudited)For the Three Months Ended June 30,For the Six Months Ended June 30,2012201120122011Revenues$
3,098,316$
3,576,253$
,391,974$
,925,863Reimbursement revenues237,545276,672646,045586,039Total revenues3,335,8613,852,9257,038,0197,511,902Cost of revenues1,754,3791,755,2353,637,1243,505,104Cost of reimbursement revenues237,545276,672646,045586,039Total cost of services1,991,9242,031,9074,283,1694,091,143Gross profit1,343,9371,821,0182,754,8503,420,759Operating expensesResearch and development357,839350,449714,
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SOURCE VirtualScopics, Inc.
Copyright©2012 PR Newswire.
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