Simulations Plus Reports Preliminary Revenues for First Fiscal Quarter of FY2011

Keywords: earnings, investor relations
Division: Simulations Plus

Simulations Plus, Inc. (NASDAQ:SLP), a leading provider of software for pharmaceutical discovery and development, today released preliminary revenues for its first fiscal quarter of fiscal year 2011 ended November 30, 2010 (1QFY11).

Ms. Momoko Beran, chief financial officer of Simulations Plus, stated: “In response to investor requests for timely information regarding revenues, we are releasing preliminary revenues for 1QFY11. Going forward, we will release preliminary revenues at the end of each of our fiscal quarters, although earnings will not be known until income taxes have been determined and our auditors review our Quarterly Report on Form 10Q for the first fiscal quarter of 2011. We expect to file our Form 10Q Quarterly Report with the U.S. Securities and Exchange Commission on or before the January 15, 2011 deadline.”

Preliminary results for the quarter:

  • This was the Company’s 13th consecutive profitable quarter
  • Consolidated preliminary revenues for the first fiscal quarter of the 2011 fiscal year (1QFY11) were $2.808 million compared to $2.437 million in 1QFY10.
  • This represents an increase of 15.2% compared to 1QFY10.
  • Preliminary revenues for the pharmaceutical software and services portion of the business were $2.047 million compared to $1.735 million in 1QFY10.
  • This represents an increase of 18.0% over 1QFY10.
  • Approximately 20% of 1QFY11 pharmaceutical software and services business was from new customers.
  • Preliminary revenues for the Words+ subsidiary were $0.761 million compared to $0.702 million in 1QFY10.
  • This represents an increase of 8.3% compared to 1QFY10

Walt Woltosz, chairman and chief executive officer of Simulations Plus, added: “This first quarter of our new fiscal year continues the sustained pattern of growth we’ve seen for a number of years, with the pharmaceutical software and services business showing 18% growth over last year’s first quarter and the Words+ subsidiary showing more than 8% growth over the same period. The combination of our aggressive marketing and sales program for the pharmaceutical software and services business, along with the new EyePro™ eyegaze system that was released last May by our Words+ subsidiary, has resulted in this sustained growth in the face of the overall economy that has troubled many other companies.”