LANCASTER, Calif.--(EON: Enhanced Online News)--Simulations Plus, Inc. (NASDAQ: SLP), a leading provider of consulting services and software for pharmaceutical discovery and development, today released preliminary revenues for its fourth fiscal quarter and fiscal year 2013, ended August 31, 2013 (4QFY13).
Ms. Momoko Beran, chief financial officer of Simulations Plus, stated, “In accordance with our policy to release timely financial information to our shareholders, we are releasing preliminary revenues for 4QFY13. Although we know the quarter was profitable, our exact net income will not be known until income taxes have been determined and our auditors review our Annual Report on Form 10-K. We expect to file our 10-K with the U.S. Securities and Exchange Commission on or before the November 30, 2013 deadline. We remain financially very strong, with our cash today at $10.4 million after paying out over $6 million in dividends in the past 18 months, and we remain debt free.”
Preliminary results for the quarter:
- This was the Company’s 24th consecutive profitable quarter, and the 46th of the last 48 quarters
- Preliminary revenues decreased to $1.568 million, compared to $1.640 million in 4QFY12
- This represents a decrease of 4.4% over 4QFY12
- Approximately 13% of revenues came from new software licenses
- Approximately 7% of revenues came from consulting studies and collaborations
- Cash as of August 31, 2013 was $10.2 million
Preliminary results for the fiscal year:
- This was the Company’s 6th consecutive profitable fiscal year (all but two quarters were profitable over the last 12 fiscal years)
- Preliminary revenues for FY2013 increased to $10.071 million, compared to $9.449 million in FY2012
- This represents an increase of 6.6% over FY2012
- Approximately 14% of revenues came from new software licenses during the fiscal year
- Approximately 7% of revenues came from consulting studies and collaborations during the fiscal year
John DiBella, vice president for marketing and sales of Simulations Plus, said: “Simulations Plus delivered continued profitability, although our top-line was impacted by a brief delay in one large upgrade order related to new review requirements on the part of a top-3 pharmaceutical customer, as well as several delays in government orders due to sequestration. We were able to offset these delays of approximately $180K with new software licenses. In addition, our funded collaborations for extending the capabilities of our GastroPlus™ software have been completed, resulting in 77% lower revenues ($57K) from those activities compared to Q4FY12. Consulting studies increased 325%, from $21K to $89K, which helped minimize the effects of the completed collaborations and the delayed orders.”
About Simulations Plus, Inc.
Simulations Plus, Inc., is a premier developer of groundbreaking drug discovery and development simulation software, which is licensed to and used in the conduct of drug research by major pharmaceutical and biotechnology companies worldwide. For more information, visit our Web site at www.simulations-plus.com.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 – With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. Our actual future results could differ significantly from those statements. Factors that could cause or contribute to such differences include, but are not limited to: our ability to maintain our competitive advantages, acceptance of new software products and improved versions of our existing software by our customers, the general economics of the pharmaceutical industry, our ability to finance growth, our ability to continue to attract and retain highly qualified technical staff, and a sustainable market. Further information on our risk factors is contained in our quarterly and annual reports as filed with the U.S. Securities and Exchange Commission.