Simulations Plus Reports Record Preliminary Revenues for First Quarter FY2016

Keywords: preliminary revenues
Division: Simulations Plus

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 2016, ending November 30, 2015 (1QFY16).

Mr. John Kneisel, chief financial officer of Simulations Plus, Inc., stated: “In accordance with our policy to release timely financial information to our shareholders, we are releasing preliminary revenues for 1QFY16. This is the first quarter where we have truly comparable results, showing pure organic growth of the combined entity since our acquisition of our Buffalo division (Cognigen). 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 14, 2016 deadline.”

Preliminary results for the quarter:

  • Preliminary revenues increased 17.9% or $731,000, to $4.81 million, compared to $4.09 million for the same period in 2015.
  • Software and software-related services increased $349,000 or 12.3% to $3.19 million or 66.2% of revenues for 1QFY16 compared to 1QFY15
  • Consulting service revenues increased $382,000 or 30.6% to $1.63 million or 33.8% of revenues for 1QFY16 compared to 1QFY15
  • Preliminary revenues in our Buffalo division increased $264,000 or 23% to $1.4 million for 1QFY16 compared to 1QFY15
  • During 1QFY16, the company added 19 new software customers.
  • Cash as of November 30, 2015, was $7.16 million after the Company made a dividend distribution of approximately $850,000 on November 16, 2015.

John DiBella, vice president for marketing and sales of Simulations Plus, said: “FY16 is off to a strong start, as we saw substantial gains in revenue from both software licenses and consulting services. An encouraging sign was the diversity of the new customers, as small and large pharmaceutical companies, plus several in the chemicals market, licensed our technology and/or utilized our consulting services. With training workshops scheduled around the world and at several regulatory agencies, in 2016, we hope to educate more scientists and continue this consistent expansion of our client base.”