Simulation Plus Inc. on Monday reported fiscal third-quarter earnings that showed rising revenue and net income.
The Lancaster drug simulation software company reported net income of $2.08 million (12 cents a share) for the quarter ending May 31, compared to $1.91 million (11 cents) for the same period a year earlier. Revenue for the company rose 12 percent to $6.75 million.
The company noted its recent acquisition of Dilsym Services Inc., a North Carolina based liver software company, occurred just after the quarter ended.
Chief Executive Walt Woltosz said next quarter’s report will include additional revenues from this newly created division.
“We are now in a position to advance the modeling of drug-induced liver injury through the synergies with our traditional software offerings, and thereby we expect to further expand the market for our software and consulting services,” he said in a statement.
Woltosz also mentioned June marked the 20th anniversary of Simulation Plus’ 1997 initial public offering.
Shares of Simulation Plus (SLP) on Monday closed down 5 cents, or less than 1 percent, to $12.90 on the Nasdaq.