VirtualScopics increases revenue, cuts loss

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Medical image analysis developer VirtualScopics reported a double-digit increase in revenues and a decrease in net losses for its fiscal 2007 second quarter (end-June 30). The Rochester, N.Y.-based firm offers a suite of image analysis tools used in detecting and analyzing specific structures in volumetric medical images, as well as characterizing minute changes in structures over time, providing information to support clinical trials and diagnostic applications.

For the period, the company reported revenues of $1.5 million, a 22 percent increase over the $1.2 million in revenues posted for the second quarter last year. Net loss for the second quarter was $1.02 million, an improvement compared with a loss of $1.24 in the prior year period.