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VirtualScopics Reports 1st Quarter 2011 Results

Monday, May 16, 2011 General News J E 4
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Revenues Increase 19% Compared to First Quarter of 2010

Three Months Ended

Three Months Ended

Adjusted EBITDA (non-GAAP measurement):

March 31, 2011

March 31, 2010

(unaudited)

(unaudited)

Net (loss) income

$                          (200,381)

$                                  8,092

Interest income and other expenses

(7)

(4,050)

Depreciation and amortization

137,224

124,920

Stock-based compensation expense

243,972

178,091

Loss on derivative financial instrument

212,134

129,439

 Adjusted EBITDA

$                           392,942

$                              436,492

 Basic and diluted Adjusted EBITDA per common share, non-GAAP

$                                 0.01

$                                    0.02

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