Simulations Plus, Inc. (NASDAQ: SLP), a leading provider of software for pharmaceutical discovery and development, today released preliminary revenues for its third fiscal quarter ended May 31, 2010.
Ms. Momoko Beran, chief financial officer of Simulations Plus, stated, “Although it is not our policy to announce preliminary revenues, we are doing so for this quarter because our CEO, Walt Woltosz, will be speaking at the Sidoti Micro-Cap Investor Conference in New York this week, and we want to be able to provide the most current information possible.”
Preliminary results for the quarter:
- Consolidated preliminary revenues for the third fiscal quarter of the 2010 fiscal year were $3.1 million, a new record.
- This represents an increase of 14.9% compared to last year’s third quarter.
- Preliminary revenues for the pharmaceutical software and services portion of the business were up 17.1% to $2.3 million.
- Preliminary revenues for the Words+ subsidiary were $794,000, an increase of 9.1% over last year’s third quarter.
“Earnings will not be known until income taxes have been determined and our auditors review our Quarterly Report on Form 10Q for the third quarter of 2010, which we expect to file with the SEC in mid-July,” Ms. Beran continued.
Walt Woltosz, chairman and chief executive officer of Simulations Plus, added, “This is our first quarter with over $3 million in sales, and it’s gratifying to see nice increases not only in the revenues from our pharmaceutical software and services business, but also in the Words+ subsidiary. We believe the aggressive marketing and sales program initiated last year is clearly resulting in improved financial performance, and we continue to benefit from the pharmaceutical industry’s shift toward the increased utilization of simulation and modeling tools to increase productivity.”
“I will be presenting at the Sidoti Micro-Cap Investor Conference in New York City on Friday, June 25, and I’ll be doing a series of investor ‘road shows’ in Manhattan the day before,” Mr. Woltosz continued. “Although we are providing preliminary revenues for the third quarter prior to the 10-Q filing because of those meetings this week, preliminary revenues releases should not be expected every quarter.”
Simulations Plus expects to announce its third fiscal quarter results and file its Quarterly Report on Form 10-Q in mid-July 2010.
About Simulations Plus, Inc.
Simulations Plus, Inc. is a premier developer of groundbreaking drug discovery and development simulation software, which is licensed to and used in the conduct of drug research by major pharmaceutical and biotechnology companies worldwide. We also provide a productivity tool called Abbreviate! for PCs and the Apple iPhone as well as an educational software series for science students in middle and high schools known as FutureLab™. Our wholly owned subsidiary, Words+, Inc., provides assistive technologies to persons with disabilities, including the computerized communication system used by world-famous theoretical astrophysicist Professor Stephen Hawking. For more information, visit our Web sites at www.simulations-plus.com and www.words-plus.com.