Simulations Plus Inc. reported preliminary fourth-quarter and full-year results to coincide with the one-year anniversary of its acquisition of Cognigen Corp.
The Lancaster company, which makes software for researchers that simulates the effects of drugs, reported an 83 percent gain in revenue to $3.65 million during the fiscal fourth quarter ended Aug. 31, compared to the same quarter last year. The company did not report net income, but said it will announce audited financial results by the Nov. 30 deadline.
“We have just completed our first year of operations following our September 2014 acquisition of Cognigen Corp., an acquisition which delivered the expected benefits such as expanded addressable market, increased scale and greater profitability,” John Kneisel, chief financial officer, said in a statement. “In accordance with our policy to release timely financial information to our shareholders, we are releasing preliminary consolidated revenues.”
For the full fiscal year, preliminary revenue amounted to $18.26 million, a 59 percent increase from the previous year.
Simulations Plus announced the preliminary results Thursday. Shares closed Friday up 28 cents or 2.4 percent to $8.48 on the Nasdaq.