Simulations Plus, Inc. (NASDAQ: SLP), a leading provider of simulation and modeling software for pharmaceutical discovery and development, today reported preliminary revenues for its first quarter of fiscal year 2015 ended November 30, 2014 (1QFY15).
Mr. John Kneisel, chief financial officer of Simulations Plus, said, “We are pleased to report that with our acquisition of Cognigen Corporation at the beginning of 1QFY15, our revenues for this first quarter set a new record of $3.96 million, an increase of 50% from $2.64 million in 1QFY14. Revenues from the Simulations Plus division increased 11.5%, to $2.94 million from $2.64 million, while Cognigen Corporation added another $1.02 million.”
Walt Woltosz, chairman and chief executive officer of Simulations Plus and Cognigen, added: “The acquisition of Cognigen Corporation has started off our fiscal year with a significant jump in revenues over the first quarter of last fiscal year. Providing timely financial information has long been a policy of Simulations Plus. The nature of our Cognigen division’s business, which is focused on consulting studies, requires estimation of percentage completion on many contracts in order to provide these preliminary revenues. Final revenues will be provided when we file our quarterly report on Form 10-Q in January.”
Mr. John DiBella, vice president for marketing and sales of Simulations Plus, said, “In addition to the revenues added by Cognigen, sales of Simulations Plus software and services have continued a consistent growth pattern with the 11.5% increase. During 1QFY15, we again achieved renewal rates well in excess of 90% and added 23 new customers. In addition, our newest software product, MembranePlus™, was featured in a webinar yesterday with nearly 100 attendees.”