Simulations Plus Reports Revenue Gain

Pharmaceutical software developer Simulations Plus Inc. announced preliminary revenue for the second quarter of 2016 on Thursday. The Lancaster company reported revenue of $5.04 million, an increase of $462,000, or 10.2 percent, compared to the same period a year earlier. During its fiscal second quarter, approximately 70 percent of total revenue was from software and software-related training services. However, software renewal was down for the quarter, which Simulations Plus attributes to employee turnover at customer companies. The company plans to release final quarterly figures by the deadline on April 13. Revenues were on par with analysts’ expectations of an average of $5 million, according to Thomson Financial Network. “This was a productive quarter for us, as we experienced solid sales growth in both software and consulting services,” John DiBella, vice president of marketing and sales for Simulations Plus, said in a statement. Shares closed down 1 cent, or a fraction of a percent to $8.98 on the Nasdaq.