An increase in awards and bookings led to 20% revenue growth for clinical trial imaging services provider VirtualScopics in the first quarter of 2015.
For the period (end-March 31), VirtualScopics had revenues of $2.8 million, up from $2.4 million posted in the first quarter of 2014. The company had a net loss of $553,000, compared with a net loss of $646,000 in the same period a year ago.
President and CEO Eric Converse said in a statement that VirtualScopics intends to continue to improve revenues in 2015, while building the company's backlog and restoring profitability.
