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VirtualScopics Reports Fourth-Quarter and Full-Year 2012 Results
Date:2/19/2013

noticeable increase in the number of repeat customers in 2012 when compared to 2011." She continued, "Additionally, 2012 was a very important year in the evolution of our personalized medicine business.  In April we announced a significant investment by the Merck Global Health Innovation Fund to support this initiative."  She concluded, "We continue to strongly believe in the opportunity and role that quantitative imaging will have in both the drug development and personalized medicine markets."

Jeff Markin and Molly Henderson will provide a business update and discuss these results during the conference call today at 11:00 a.m. ET. Interested participants should call 877-407-8035 when calling within the United States or +1 201 689 8035 when calling internationally.  This call can also be accessed at www.virtualscopics.com and will be available for 30 days after the call.

The Company provides Adjusted EBITDA as a supplemental measure to Generally Accepted Accounting Principles ("GAAP") regarding the Company's operational performance. The Company defines Adjusted EBITDA as earnings less interest, taxes (if any), depreciation and amortization as further adjusted to exclude stock-based compensation expense and the loss/gain on derivative instrument (mark to market adjustment for warrants).  This financial measure excludes the impact of certain items and, therefore, has not been calculated in accordance with GAAP. The Company's method of calculating Adjusted EBITDA, however, may differ from methods used by other companies, and, as a result, Adjusted EBITDA measures disclosed herein may not be comparable to other similarly titled measures used by other companies. The Company continues to provide information in accordance with GAAP, however, with the adoption of Accounting Standards Codification ("ASC") 815-40 and the non-cash variable nature of stock-based compensation expense and their very s
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SOURCE VirtualScopics, Inc.
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