Simulations Plus Reports Preliminary Revenues for First Fiscal Quarter FY2012

Division: PBPK

Ms. Momoko Beran, 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 1QFY12. 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 January 14, 2012 deadline.”

Preliminary results for the quarter:

  • This was the Company’s 17th consecutive profitable quarter, and the 39th of the last 41 quarters
  • Preliminary revenues increased to $2.248 million, compared to $2.047 million (excluding Words+ operations) in 1QFY11
  • This represents an increase of 9.8% over 1QFY11 and is a new record 1st quarter
  • Approximately 20% of revenues came from new software licenses
  • Approximately 5% of revenues came from consulting studies
  • Cash as of November 30, 2011 was $12.3 million, up 40% from November 30, 2010

Walt Woltosz, chairman and chief executive officer of Simulations Plus, said: “With the completed sale of our former wholly owned subsidiary, Words+, on November 30, that business segment has become ‘discontinued operations.’ Going forward, we will be reporting our financials on only the pharmaceutical software and services business, which, other than the occasional small amounts from our legacy FutureLab™ and Abbreviate!™ products, now constitutes all of the Company’s business. Fiscal year 2012 has gotten off to a strong start with yet another record quarter-over-quarter result. Considering that during last year’s first quarter we had an additional $67,000 of revenues from our SBIR grant with the National Institutes of Health that was completed earlier this calendar year, our new software license sales not only made up that amount but went on to post the growth you see above to set a new record for first fiscal quarters. We remain financially very strong, with our cash now over $12 million and we continue to have no debt.”