VirtualScopics Reaches the Black in 4Q - Analyst Blog
24 Fevereiro 2012 - 12:09PM
Zacks
Medical imaging solutions provider
VirtualScopics (VSCP) posted breakeven earnings a
share in fourth-quarter 2011. The New York-based company swung to a
profit in the quarter on flat revenues. Analysts polled by Zacks
were looking for earnings of a penny a share on average.
VirtualScopics clocked a net income (attributable to common
stockholders) of $1,100 in the fourth quarter versus a loss of
roughly $1.6 million (or 6 cents a share) a year ago. The bottom
line in the year-ago quarter was hit by hefty losses on derivative
instruments.
For fiscal 2011, earnings of 2 cents a share were in line with
the Zacks Consensus Estimate. Net income (attributable to common
stockholders) was $654,306 compared with a net loss of $802,058 (or
3 cents a share) a year ago.
Revenues in the fourth quarter were essentially flat year over
year at $3.5 million, missing the Zacks Consensus Estimate of $4
million. For the full year, sales rose 7% year over year to $14.3
million.
Gross margin declined to 38.8% from 48.4% a year ago, hurt by
higher cost of services. Operating expenses rose 3% year over year
to roughly $1.5 million. Research and development expenses jumped
42% to $339,734. Sales and marketing costs fell 10% to
$235,155.
VirtualScopics ended the fiscal with cash of roughly $5.7
million, up 25% year over year, with no debt. The company envisions
its currently available cash will enable it to invest in new
markets including personalized medicine.
VirtualScopics, in its fourth quarter call, noted that it has
received feedback from the U.S. Food and Drug Administration
(“FDA”) for its first personalized medicine application. The
company filed a 510(k) with the FDA in October 2011.
VirtualScopics offers its imaging solutions to pharmaceutical,
biotechnology and medical devices industries. The company provides
a range of imaging software and applications that are used for
image-based detection and measurement of anatomical structures and
metabolic activity. VirtualScopics competes with
BioClinica Inc (BIOC) and
ICON plc (ICLR) among others.
The company, in January 2012, expanded its strategic
collaboration with North Carolina-based leading contract research
organization (“CRO”) Pharmaceutical Product Development (“PPD”)
Inc. The entities extended their partnership in clinical and
medical imaging to include a range of therapeutic areas such as
oncology, central nervous system, cardiovascular, general medicine
and medical devices. The scope of the collaboration was originally
limited to oncology.
Moving ahead, VirtualScopics expects revenues for fiscal 2012 in
a band of $14.5 million to $15.5 million. The company expects sales
in 2012 to be supported by its alliance with PPD Inc.
BIOCLINICA INC (BIOC): Free Stock Analysis Report
ICON PLC (ICLR): Free Stock Analysis Report
VIRTUALSCOPICS (VSCP): Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
ICON (NASDAQ:ICLR)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
ICON (NASDAQ:ICLR)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024