Income Up at Simulations Plus

Pharmaceutical development software company Simulations Plus Inc. had a 30 percent increase in net income for the third quarter when compared to the previous year. The Lancaster-based company reported net income of $740,113, or $0.04 per diluted share, on revenues of $3.1 million for the quarter ending May 31. For the same period in 2009, the company reported net income of $569,133, or $0.03 per diluted share, on revenues of $2.7 million. For the nine month period, Simulations Plus has net income of $1.8 million, or $0.11 per diluted share, on revenues of $8.5 million. That is a 45 percent increase from the net income of $1.2 million, or $0.07 per diluted share, on revenues of $7.3 million. The company is in the midst of a stock repurchasing program and has so far spent $603,000, including brokerage fees to repurchase about 257,000 shares of stock on the open market. Mark R. Madler