Advertisement
"We continue to be extremely pleased with the growth in our projectbacklog which has not only showed greater than 80% growth compared to lastyear at this time, but is also 35% higher than the $20 million we announcedjust five months ago," said VirtualScopics' President and Chief ExecutiveOfficer, Jeff Markin. "Not only does the strength of our backlog demonstrateour future revenue potential it also shows the continued momentum in thedemand for our services within the industry." He further added, "As we nearthe end of 2008, we remain confident in our ability to achieve our 2008financial targets announced at the beginning of this year and are lookingforward to a solid close to the year."
Advertisement
About VirtualScopics, Inc.
VirtualScopics, Inc. is a leading provider of imaging solutions toaccelerate drug and medical device development. VirtualScopics has developeda robust software platform for analysis and modeling of both structural andfunctional medical images. In combination with VirtualScopics'industry-leading experience and expertise in advanced imaging biomarkermeasurement, this platform provides a uniquely clear window into thebiological activity of drugs and devices in clinical trial patients, allowingsponsors to make better decisions faster. For more information aboutVirtualScopics, visit www.virtualscopics.com .
Forward-Looking Statements
The statements contained in this press release that are not purelyhistorical are forward-looking statements within the meaning of Section 27A ofthe Securities Act of 1933, as amended and Section 21E of the SecuritiesExchange Act of 1934, as amended, and are intended to be covered by the safeharbors created thereby. These forward-looking statements include, but are notlimited to, statements regarding the backlog and new customer awards in 2008and/or statements preceded by, followed by or that include the words"believes," "could," "expects," "anticipates," "estimates," "intends,""plans," "projects," "seeks," or similar expressions. Forward-lookingstatements deal with the Company's current plans, intentions, beliefs andexpectations. Investors are cautioned that all forward-looking statementsinvolve risks and uncertainties that could cause actual results to differmaterially from those in the forward-looking statements. Many of these risksand uncertainties are discussed in the Company's Annual Report on Form 10-KSBfor the fiscal year ended December 31, 2007 filed with the Securities andExchange Commission (the "SEC"), and in any subsequent reports filed with theSEC, all of which are available at the SEC's website at www.sec.gov. Theseinclude without limitation: the risk of cancellation or delay of customercontracts or specifically as it relates to awards of contracts currently undernegotiation, the risk that they may not get signed. Other risks include thecompany's dependence on its largest customers and risks of contractperformance. All forward-looking statements speak only as of the date of thispress release and the Company undertakes no obligation to update suchforward-looking statements.CONTACT: Company Contact: Molly Henderson Chief Business and Financial Officer 500 Linden Oaks Rochester, New York 14625 (585)249.6231
SOURCE VirtualScopics, Inc.
