Simulations Plus Announces Employee Bonuses

Division: Simulations Plus

Walt Woltosz, chairman and chief executive officer of Simulations Plus, said, “As we announced on April 9, 2018, when we reported record financial results for our second fiscal quarter of 2018, with the effects of the Tax Cuts and Jobs Act of 2017, we posted a deferred tax benefit of approximately $1.5 million in our second fiscal quarter, as well as lower income tax rates for January and February. Even without the deferred tax benefit, net income for the quarter was up 65% owing both to our acquisition of DILIsym Services, Inc. last year and the lower tax rates for January and February. We credit the excellent performance in all three divisions for the record revenues we have been generating each quarter. For the past six years, we’ve rewarded our valued shareholders through the distribution of quarterly cash dividends, recently increasing the dividend from $0.05 per share per quarter to $0.06 per share per quarter. The Board of Directors has now voted to reward our dedicated employees with a $1,000 discretionary cash bonus. The ongoing efforts and commitment of our employees to providing the best products and services to the pharmaceutical industry are key to our success.”