Shares of Simulations Plus Inc. rose nearly 4 percent Thursday after the company reported results in line with expectations.
The Lancaster company, which makes software used by researchers in the development of new drugs, reported net income of $993,230 (6 cents a share) for the fiscal third quarter ended May 31, compared with net income of $869,333 (5 cents) for the same quarter a year ago. Revenue increased nearly 12 percent to $3 million.
Analysts on average had expected earnings of 6 cents a share on revenue of $3.1 million, according to Thomson Financial.
The company distributed $480,000 to shareholders in a special dividend and gained 16 new customers during the quarter. It reported a gross profit margin of more than 84 percent.
Shares gained 17 cents, or 3.9 percent, to close at $4.53 on the Nasdaq.