Simulations Plus, Inc. (NASDAQ: SLP), a leading provider of consulting
services and software for pharmaceutical discovery and development,
today released preliminary revenues for its third fiscal quarter of
fiscal year 2014, ended May 31, 2014 (3QFY14).
Mr. John R. Kneisel, chief financial officer of Simulations Plus,
stated: “In accordance with our policy to release timely financial
information to our shareholders, we are releasing preliminary revenues
for 3QFY14. Net income will not be known until income taxes have been
determined and our auditors review our Quarterly Report on Form 10-Q. We
expect to file our 10-Q with the U.S. Securities and Exchange Commission
on or before the July 15, 2014 deadline.”
Preliminary results for the quarter:
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This was the Company’s 27th consecutive profitable quarter
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Preliminary revenues increased to $3.738 million, compared to $3.095
million in 3QFY13
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This represents an increase of 20.8% over 3QFY13
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Approximately 14.0% of revenues came from new software licenses
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Approximately 2.8% of revenues came from consulting studies and
collaborations
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Cash as of June 2, 2014 was $8.0 million after a dividend distribution
of approximately $800,000 was made on February 24, 2014, and a $2.5
million payment was made as part of the Termination and Non-Assertion
agreement with TSRL that was announced May 19, 2014
Mr. John DiBella, vice president for marketing and sales of Simulations
Plus, said: “As we noted last quarter, a major customer decided to slip
a renewal order for one site that had been received in the second fiscal
quarter last year to the third fiscal quarter this year in order to
synchronize their renewals across their various sites. This renewal was
approximately $300,000. Even excluding this order, preliminary revenues
would have been an all-time record for any quarter at about $3.438
million, or 11.1% higher than 3QFY13.”
Mr. Walt Woltosz, chairman and CEO of Simulations Plus, added:
“Simulations Plus continues its more-than-10-year track record of
profitability and growth. We continue to interview and hire new
scientists and engineers, and another will join us next week. We also
continue to see new business opportunities in aerospace and in modeling
data from magnetic resonance imaging (MRI) using our highly advanced
artificial neural network ensemble modeling technology. We recently made
a presentation to the Air Force Research Laboratory at Edwards Air Force
Base (where I once worked) and we are encouraged by the interest shown
there for this technology as well.”
About Simulations Plus, Inc.
Simulations Plus, Inc., is a premier developer of groundbreaking drug
discovery and development simulation software, which is licensed to and
used in the conduct of drug research by major pharmaceutical and
biotechnology companies worldwide. For more information, visit our Web
site at www.simulations-plus.com.
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Safe Harbor Statement Under the Private Securities Litigation Reform
Act of 1995 – With the exception of historical information, the
matters discussed in this press release are forward-looking statements
that involve a number of risks and uncertainties. Our actual future
results could differ significantly from those statements. Factors that
could cause or contribute to such differences include, but are not
limited to: our ability to maintain our competitive advantages,
acceptance of new software products and improved versions of our
existing software by our customers, the general economics of the
pharmaceutical industry, our ability to finance growth, our ability to
continue to attract and retain highly qualified technical staff, and a
sustainable market. Further information on our risk factors is contained
in our quarterly and annual reports as filed with the U.S. Securities
and Exchange Commission.
Copyright Business Wire 2014