Simulations Plus, Inc. (NASDAQ: SLP), a leading provider of consulting services and software for pharmaceutical discovery and development, today released preliminary revenues for its first fiscal quarter of fiscal year 2014, ended November 30, 2013 (1QFY14).
Mr. John R 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 1QFY14. 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, 2014 deadline.”
Preliminary results for the quarter:
- This was the Company’s 25th consecutive profitable quarter, and the 47th of the last 49 quarters
- Preliminary revenues increased to $2.630 million, compared to $2.290 million in 1QFY13
- This represents an increase of 14.9% over 1QFY13 and is a new record 1st quarter
- Approximately 20.8% of revenues came from new software licenses
- Approximately 5.4% of revenues came from consulting studies and collaborations
- Cash as of November 30, 2013 was $10.5 million
John DiBella, vice president for marketing and sales of Simulations Plus, said: “Fiscal year 2014 is off to a strong start, with double-digit growth in revenues according to our preliminary numbers. As was mentioned in earlier press releases, the large upgrade order from a top-5 pharmaceutical company that slipped from 4QFY13 was recognized this quarter; however, removing it would still result in a 10% increase compared to 1QFY13. Revenue from new software licenses was robust, with significant growth seen in Asian territories. Our funded collaborations have been successfully completed, resulting in a revenue reduction of $111,000 compared to 1QFY13. This reduction was partially offset by a 46% increase in consulting studies, from $96,000 to $141,000.”