Net Income Increases for Software Firm

Pharmaceutical software developer Simulations Plus Inc. improved its net income for the 2010 fiscal year when compared to the previous fiscal year. The Lancaster-based company reported net income of $2.2 million, or $0.13 per diluted share, on revenues of $10.7 million for the fiscal year ending Aug. 31. For the previous fiscal year, the company reported net income of $1.4 million, or $0.08 per diluted share, on revenues of $9.1 million. The release of three pharmaceutical upgrades during the fourth quarter helped position Simulations Plus far ahead of its competition, said Chairman and CEO Walter Woltosz. “We believe that, because we provide tools that increase productivity in an industry that wastes billions of dollars every year on failed molecules, the need for these tools will only increase going forward,” Woltosz said. Mark R. Madler