Simulations Plus stock rose nearly 6 percent Thursday after the company announced its fiscal third-quarter results.
The Lancaster company, which makes software for pharmaceutical research, reported net income of $1.9 million, or 11 cents a share, during the fiscal third quarter ended May 31. Revenue gained 1.2 percent to $6 million.
The sole analyst who follows the company expected earnings of 12 cents on revenue of $6.57 million, according to Thomson Financial Network.
“The company continues to produce record financial results, with year-to-date sales up nearly 10 percent and net income increased by 24 percent,” John Kneisel, chief financial officer of Simulations Plus, said in a statement. “The company’s strong cash position enables continuing investment in software products while being able to reward shareholders by providing continuing quarterly dividends.”
Shares closed up 46 cents or 5.9 percent to $8.23 on the Nasdaq.