Business
Simulations Plus Reports Third Quarter FY2020 Financial Results
Third Quarter and 9MoFY20 Revenues Grow 24% Board of Directors Announces Quarterly Dividend of $0.06 per Share Company Files Shelf Registration Statement
About this update from Simulations Plus, Inc.
[{"type":"text","content":"\nThird Quarter and 9MoFY20 Revenues Grow 24%\nBoard of Directors Announces Quarterly Dividend of $0.06 per Share\nCompany Files Shelf Registration Statement\n\n LANCASTER, Calif.--(BUSINESS WIRE)--\nSimulations Plus, Inc. (Nasdaq: SLP), the leading provider of modeling and simulation solutions for the pharmaceutical, biotechnology, chemicals, and consumer goods industries, today reported financial results for its third quarter of fiscal year 2020 (3QFY20) and the first nine months of fiscal year 2020 (9moFY20), the period ended May 31, 2020.\n\n\n3QFY20 highlights compared with 3QFY19:\n\n\n\nNet revenues increased 23.8% to $12.3 million, an increase of $2.4 million over $9.9 million\n\n\nGross profit was up 26.5% to $9.6 million, an increase of $2.0 million over $7.6 million\n\n\nSG&A was $5.0 million, an increase of 62.6% or $1.9 million over $3.1 million\n\n\nSG&A as a percentage of revenues increased to 40.9% from 31.1%, inclusive of $1.1 million in one-time transaction costs related to the Lixoft acquisition\n\n\nTotal R&D expenditures were $1,359,000, an increase of $293,000, or 27.5% over $1,066,000\n\n\nIn 3QFY20, $606,000 was capitalized and $753,000 was expensed\n\n\nIn 3QFY19, $422,000 was capitalized and $643,000 was expensed\n\n\n\n\nIncome before taxes remained flat at $3.8 million\n\n\nNet income increased 1.6% to $2.9 million, an increase of $47,000 over $2.9 million\n\n\nDiluted earnings per share remained unchanged at $0.16. One-time transaction costs related to the Lixoft acquisition of $1.1 million (approx. $837,000 net of tax) effected a decrease of $0.04 diluted earnings per share for the quarter\n\n\n\n9moFY20 highlights compared with 9moFY19:\n\n\n\nNet revenues increased 23.5% to $32.0 million, an increase of $6.1 million over $25.9 million\n\n\nGross profit was up 25.3% to $24.1 million, an increase of $4.9 million over $19.2 million\n\n\nSG&A was $12.6 million, an increase of $4.0 million, or 46.8%, over $8.6 million\n\n\nSG&A as a percentage of revenues increased to 39.5% from 33.2%, inclusive of $1.4 million in one-time transaction costs related to the Lixoft acquisition\n\n\nTotal R&D expenditures were $3.8 million, an increase of $500,000, or 15.4% over $3.3 million\n\n\nFor 9moFY20, $1.7 million was capitalized and $2.0 million was expensed\n\n\nFor 9moFY19, $1.4 million was capitalized and $1.9 ...