VirtualScopics Posts Q1 Financials

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Quantitative imaging provider VirtualScopics, Inc. announced its financials today.

As compared with revenues of $3.6 million in the first quarter of 2011, its $3.7 million in revenues were up 2 percent in the first quarter of 2012. At $613,544, net losses for the first quarter of 2012 were up 33 percent year-over-year (as compared with net losses of $200,381 in the first quarter of 2011).

VirtualScopics President and CEO Jeff Markin commented that despite the quarter being “the most active” in terms of image processing, that company needed to focus on new sales and expanding its strategic alliances.