Business
Simulations Plus Reports Record Second Quarter Fiscal 2021 Financial Results
Second quarter revenue of $13.1 million, reflecting 27% 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":"\nSecond quarter revenue of $13.1 million, reflecting 27% 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, chemical, and consumer goods industries, today reported financial results for its second quarter of fiscal 2021, ending February 28, 2021.\n\nQ2 Financial highlights compared with the corresponding period last fiscal year:\n\n\nRevenue increased 27% to $13.1 million\n\n\nGross profit increased 33% to $10.2 million\n\n\nGross margin was 78%, up from 74%\n\n\nNet income increased 49% to $3.2 million\n\n\nDiluted earnings per share increased 25% to $0.15 per share\n\n\nYTD Financial highlights compared with the corresponding period last fiscal year:\n\n\nRevenue increased 21% to $23.8 million\n\n\nGross profit increased 28% to $18.5 million\n\n\nGross margin was 78%, up from 73%\n\n\nNet income increased 35% to $5.7 million\n\n\nDiluted earnings per share increased 17% to $0.27 per share\n\n\nShawn O’Connor, chief executive officer of Simulations Plus, said: “We delivered excellent 27% overall revenue growth, outpacing our annual targets. During the quarter, we also successfully completed our first sponsored conference, the MIDD+ Scientific Conference, a two-day event focused on delivering customized modeling and simulation content specifically for pharmaceutical scientists and their organizations, which was widely attended. We also won several funded collaboration projects and released new versions of GastroPlus® and Monolix Suite™. In summary, this was a productive quarter for Simulations Plus and an encouraging first six months of the fiscal year.”\n\n“While we expect growth to normalize in the second-half of our fiscal year, and are maintaining our full-year growth targets of 15-20%, this first-half performance underscores the strength and diversification of our business model,” continued Mr. O’Connor. “We have built a global organization selling an expanding portfolio of software and services to pharma and regulatory customers, and our growth is increasingly facilitating cross-selling as we leverage our industry leadership. This growth is largely dropping to our bottom line, increasing profitability and bols...