Business
Simulations Plus Reports FY2020 and Fourth Quarter FY2020 Financial Results
Full-Year Revenue Increased 22.4% to $41.6 Million; Fourth Quarter Revenue Increased 18.9% to $9.5 Million; Fourth Quarter Diluted EPS of $0.11 and Full-Year
About this update from Simulations Plus, Inc.
[{"type":"text","content":"\nFull-Year Revenue Increased 22.4% to $41.6 Million;\n\nFourth Quarter Revenue Increased 18.9% to $9.5 Million;\n\nFourth Quarter Diluted EPS of $0.11 and Full-Year Diluted EPS of $0.50\n\n LANCASTER, Calif.--(BUSINESS WIRE)--\nSimulations Plus, Inc. (Nasdaq: SLP), a leading provider of modeling and simulation solutions for the pharmaceutical, biotechnology, chemicals, and consumer goods industries, today reported financial results for its 2020 fiscal year (FY20) and fourth quarter (4QFY20) ended August 31, 2020.\n\nFull Year FY20 highlights compared with Full Year FY19:\n\n\nRevenues were $41.6 million, up 22.4% over $34.0 million in FY19\n\n\nGross profit was up 24.0%, or $6.0 million, to $30.9 million, from $24.9 million in FY19\n\n\nSG&A was $16.4 million, an increase of $4.6 million, or 38.7%, over $11.8 million\n\n\nTotal R&D expenditures were $5.3 million, an increase of $1.0 million, or 24.8% over $4.3 million\n\n\nFor FY20, $2.4 million was capitalized and $3.0 million was expensed\n\n\nFor FY19, $1.8 million was capitalized and $2.5 million was expensed\n\n\n\n\nIncome before taxes increased 7.9% to $11.4 million, an increase of $831,000 over $10.6 million\n\n\nNet income increased 8.7% to $9.3 million, an increase of $749,000 from $8.6 million\n\n\nDiluted earnings per share increased $0.02 to $0.50 from $0.48. One-time transaction costs related to the Lixoft acquisition of $1.4 million (approx. $1.1 million net of tax) effected a $0.06 decrease in diluted earnings per share\n\n\nCash, cash equivalents, and short-term investments were $116.0 million, compared to $11.4 million at the end of FY19 reflecting the follow-on offering completed on August 10, 2020\n\n\n4QFY20 highlights compared with 4QFY19:\n\n\nRevenues increased 18.9% to $9.5 million, an increase of $1.5 million over $8.0 million\n\n\nGross profit was up 19.7% to $6.9 million, an increase of $1.1 million over $5.7 million\n\n\nSG&A was $3.7 million, an increase of 16.7%, or $531,000, over $3.2 million\n\n\nTotal R&D expenditures were $1.6 million, an increase of $559,000, or 55.4%, over $1.0 million\n\n\nFor 4QFY20, $621,000 was capitalized and $948,000 was expensed\n\n\nFor 4QFY19, $406,000 was capitalized and $603,000 was expensed\n\n\n\n\nIncome before taxes increased 2.6%, or $51,000, and remained at $2.0 million\n\n\nNet income increased 6.3% to $2.2...