Business
Simulations Plus Reports Record First Quarter FY2021 Financial Results
First quarter revenue of $10.7 million, reflecting 14% year-over-year growth Board of Directors announces quarterly dividend of $0.06 per share LANCASTER,
About this update from Simulations Plus, Inc.
[{"type":"text","content":"\nFirst quarter revenue of $10.7 million, reflecting 14% year-over-year growth\n\nBoard of Directors announces quarterly dividend of $0.06 per share\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 first quarter of fiscal year 2021.\n\nFinancial highlights compared with the corresponding period last fiscal year:\n\n\nRevenue increased 14% to $10.7 million\n\n\nGross profit increased 22% to $8.3 million\n\n\nGross margin was 77%, up from 72%\n\n\nNet income increased 21% to $2.5 million\n\n\nDiluted earnings per share increased 9% to $0.12\n\n\nShawn O’Connor, chief executive officer of Simulations Plus, said: “Our first quarter financial results were in line with our expectations highlighted by strong, double-digit revenue growth and increased profitability, despite a challenging comparison to the first quarter of fiscal 2020 that benefited from unusually strong results in our DILIsym division. The strategic investments in our sales and marketing infrastructure, and a growing reliance on modeling and simulation in the drug development ecosystem continue to facilitate strong revenue growth, as Simulations Plus bolsters its already strong position in the marketplace. The acquisition of Lixoft has meaningfully expanded our addressable market. In addition, this acquisition has had the desired impact of increasing the mix of software revenue, helping expand our overall profitability.”\n\n“We recently signed a large COVID-19-related consulting services project with a large pharmaceutical client, validating the resources we devoted to our COVID-19 initiative and demonstrating the increasing value we play in support of our clients,” added Mr. O’Connor. “We also signed a new three-year project with a large private foundation as well as three new projects with a large non-profit biotechnology institute. Looking ahead, demand for our consulting services remains strong and next generation releases of several of our software products that are scheduled for fiscal 2021 reinforce our confidence in delivering another year of organic growth of 15% to 20% in fiscal 2021.”\n\nQuarterly Dividend Declared\n\nThe Company’s Board of Directors has...