Simulations Plus Reports Record Preliminary Revenues for Second Quarter FY2017
March 13 2017 - 8:30AM
Business Wire
Simulations Plus, Inc. (NASDAQ: SLP), a leading provider of
consulting services and software for pharmaceutical discovery and
development, today released preliminary revenues for the second
quarter of its fiscal year 2017, the period ended February 28, 2017
(2QFY17).
Mr. John Kneisel, chief financial officer of Simulations Plus,
Inc., stated: “In accordance with our policy to release timely
financial information to our shareholders, we are releasing
preliminary revenues for 2QFY17. Earnings will not be released
until just prior to the filing of 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 April 10, 2017, deadline.”
Preliminary results for the quarter:
- Preliminary revenues for the three
months ended February 28, 2017, were $5.64 million, compared to
$5.16 million for the same period in 2016. This represents an
increase of 9.3%, or $480,000.
- Preliminary revenues for the six months
ended February 28, 2017, were $11.06 million, compared to $10.00
million for the same period in 2016. This represents an increase of
10.6%, or $1.06 million.
- Approximately 68% of 2QFY17 revenues
were from software and software-related training services.
- Software and software-related services
were up approximately 8.0% for 2QFY17 compared to 2QFY16.
- Approximately 32% of 2QFY17 revenues
were from consulting services and analytical studies including
collaborations.
- Lancaster analytical study and
collaboration revenues were approximately $260,000 for 2QFY17, an
increase of $110,000 when compared to 2QFY16.
- Buffalo revenues increased by 6.1%, or
$90,000, to $1.57 million from $1.48 million for 2QFY17 compared to
2QFY16.
- During 2QFY17, the company added 20 new
software customers, for a total of 43 for the six months ended
February 28, 2017.
- Cash as of February 28, 2017, was $7.4
million after the Company made a dividend distribution of
approximately $862,000 on February 6, 2017.
John DiBella, vice president for marketing and sales of
Simulations Plus, said: “We achieved strong revenue growth in the
first half of our fiscal year, as we engaged with more clients than
ever, continued expanding our software license base into new
markets, and realized recurring renewal rates of 96% for software
fees. As we shift our focus to the second half of the year, our
teams will be working hard on the full pipeline of consulting
service projects and new releases for several products, including a
major one for our flagship program, GastroPlus™. We will also
continue to recruit prospective employees to help execute our
strategic growth plans. Finally, our aggressive global training
workshop and conference schedule will assist us with our goal of
educating more scientists and promoting our modeling &
simulation solutions to different audiences, and we anticipate
these activities will help our longstanding positive momentum in
revenue growth to continue.”
About Simulations Plus, Inc.
Simulations Plus, Inc. is a premier developer of drug discovery
and development software as well as a leading provider of both
preclinical and clinical pharmacometric consulting services for
regulatory submissions. The company is a global leader focused on
improving the ways scientists use knowledge and data to predict the
properties and outcomes of pharmaceutical and biotechnology agents.
Our software is licensed to and used in the conduct of drug
research by major pharmaceutical and biotechnology companies and
regulatory agencies worldwide. Our innovations in integrating new
and existing science in medicinal chemistry, computational
chemistry, pharmaceutical science, biology, and physiology into our
software have made us the leading software provider for
physiologically based pharmacokinetic modeling and simulation. For
more information, visit our website at
www.simulations-plus.com.
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. Words like “believe,” “expect” and “anticipate” mean
that these are our best estimates as of this writing, but that
there can be no assurances that expected or anticipated results or
events will actually take place, so 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 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,
our ability to identify and close acquisitions on terms favorable
to the Company, 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.
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Simulations Plus Investor
RelationsMs. Renee Bouche,
661-723-7723renee@simulations-plus.comorHayden IRMr. Cameron Donahue,
651-653-1854cameron@haydenir.com
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