Simulations Plus reported results that beat expectations.
The Lancaster company, which makes software for pharmaceutical research that simulates a drug’s actions in the body, reported net income of $1.36 million on revenue of $5.4 million during the fiscal first quarter ended Nov. 30. The company had earnings of 8 cents a share, compared to 6 cents for the same quarter last year.
The one analyst who covers the company estimated earnings of 7 cents a share on revenue of $5 million, according to Thomson Financial.
Walt Woltosz, chief executive of Simulations Plus, said fiscal 2017 is off to a good start.
“The pharmaceutical industry continues to adopt simulation and modeling technology to improve productivity and reduce wasted R&D efforts on compounds that would have failed. We expect this trend to continue in 2017, and Simulations Plus is increasingly well-positioned to benefit,” he said in a statement.
Simulations Plus (SLP) announced results after the market closed Monday. Shares closed Tuesday up 45 cents or 4.7 percent to $10 on the Nasdaq.