Strong Q2 for Simulations Plus

Net income rose by 42 percent in the second quarter for pharmaceutical software developer Simulations Plus Inc. when compared to a year ago. The Lancaster-based firm attributed strong earnings results on its product line, aggressive marketing and sales, and frugal expense management. For the quarter ending Feb. 28, the company reported a net income of $907,480, or $0.06 per diluted share, on revenues of $3.3 million. For the same period in 2010, the company has net income of $640,863, or $0.04 per diluted share, on revenues of $2.9 million. The company’s acquisition strategy has not shown much success of late but efforts are being made to increase the Life Sciences staff, said Walt Woltosz, the chairman and CEO of Simulations Plus. “This will enable us to more rapidly pursue more of the organic growth opportunities we’ve identified,” Woltosz said. Mark R. Madler