Simulations Plus, Inc. (Nasdaq: SLP), a leading provider of simulation and modeling software for pharmaceutical discovery and development, today reported preliminary financial results for the third fiscal quarter of its 2009 fiscal year ended May 31, 2009, and announced that the company’s CEO will be presenting at an investor meeting and webinar sponsored by SMH Market & Liquidity Services in New York City on Wednesday, June 3, 2009. The webinar is scheduled to begin at 4:15 p.m. EST. For those interested in joining the webinar, the registration link is: https://www2.gotomeeting.com/register/592539666. (Please be aware that you will receive an email from GoToWebinar with a unique access code and audio pin. Please make sure to dial into the call in addition to logging on to your computer.)
Ms. Momoko Beran, chief financial officer of Simulations Plus, stated: “Consolidated revenues for the third quarter were $2,712,000, as compared with a record 3rd quarter set in fiscal 2008 of $2,968,000. Revenues from pharmaceutical software and services were $1,985,000, a slight increase of $10,000 from the third quarter of fiscal year 2008. Revenues for our Words+ subsidiary decreased 26.8% to $727,000 from $993,000 in the third quarter of fiscal year 2008. Final earnings will not be known until we complete the auditors’ review and tax calculations.
“For the first nine months, consolidated revenues were $7,302,000, an increase of 2.4% over $7,132,000 for the first nine months of fiscal year 2008. Sales of pharmaceutical software licenses and services in the first nine months were $5,194,000, an increase of 4.7% over $4,963,000 in the first nine months of fiscal year 2008. Words+ sales were $2,108,000, a decrease of 2.8% from $2,169,000 in the previous fiscal year. Cash flow remains strong and our cash and equivalents at the end of the third quarter exceeded $7.2 million. The company remains debt-free.”
Walt Woltosz, chairman and chief executive officer of Simulations Plus, noted: “It has not been our practice recently to release preliminary revenues; however, with two investor meetings in New York City on Wednesday, June 3, and with the quarter having just ended on May 31, we felt it would be beneficial to be able to discuss the third quarter performance at these meetings. In order to do so, and in fairness to all investors, the results needed to be made public before those meetings. This press release and the 8K filing with the SEC accomplish that.”
Mr. Woltosz continued: “Pharmaceutical software sales continue to be strong, in spite of a large order that slipped into the 4th quarter. Words+ sales did not reach the record high achieved last year, but that high was achieved partially as a result of a single large order from our distributor in the U.K., and no such order was received this year. We’re pleased that the pharmaceutical side of the business has showed sustaining power in light of the current global economic crisis and the changes we’ve seen in the industry. Although we’ve lost a few customers because of reorganizations, we have compensated with a number of new customers, and we continue to be profitable.”