Simulations Plus Reports Record Preliminary Revenues for First Quarter FY2017
Simulations Plus, Inc. (NASDAQ: SLP), a leading provider of consulting services and software for pharmaceutical discovery and development, today released preliminary revenues for the first quarter of its fiscal year 2017, ending November 30, 2016 (1QFY17).
Mr. John Kneisel, 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 1QFY17. Earnings will not be released until just prior to the filing of 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 9, 2017 deadline.”
Preliminary results for the quarter:
- Preliminary revenues increased 10.9% or $525,000, to $5.36 million, compared to $4.84 million for the same period in 2016.
- Software and software-related services increased $217,000 or 6.8%, to $3.40 million or 63.4% of revenues for 1QFY17 compared to 1QFY16
- Consulting service revenues increased $308,000, or 18.6%, to $1.96 million or 36.6% of revenues for 1QFY17 compared to 1QFY16
- Preliminary revenues in our Buffalo division increased $246,000 or 17.2%, to $1.67 million for 1QFY17 compared to 1QFY16
- During 1QFY17, the company added 23 new software customers.
- Cash as of November 30, 2016, was $8.85 million after the Company made a dividend distribution of approximately $861,000 on November 17, 2016.
John DiBella, vice president for marketing and sales of Simulations Plus, said: “With more pharmaceutical companies requesting the services of our expert consultants on a wide range of projects, plus consistent growth seen with in-house licensing of our technology, FY17 is off to a strong start. We were very pleased to see the U.S. Environmental Protection Agency (EPA) and Centers for Disease Control and Prevention (CDC) continue to add more licenses of our top-ranked ADMET Predictor™ and GastroPlus™ modeling software to assist with their safety research and toxicology initiatives. With training workshops scheduled around the world in 2017, plus new software releases expected over the next few months, we expect to educate more scientists and continue to expand our client base.”