Simulation Plus Revenue Increases

Simulation Plus Inc. released preliminary revenues for the third quarter of its fiscal year, which ended May 31. The Lancaster company, which licenses software for biological research, reported preliminary revenue for the first nine months of its fiscal year at $17.8 million, up 11 percent from the same period a year earlier. Simulation Plus’ preliminary revenues were released in accordance with the company’s policy to release timely financial information to shareholders. The company said that next quarter will be the last time it will release preliminary revenues. “Our record third-quarter revenue numbers were driven by the sustained increase in requests for consulting services,” John DiBella, vice president for marketing and sales, said in a statement. “To meet this strong demand, we added several scientists to our teams in the third fiscal quarter.” The company noted that with the recent acquisition of software firm Dilisym Services Inc., which closed earlier this month, they expect to add more revenues and earnings next quarter. Simulations Plus (SLP) released the information before the market opened on Thursday. Shares closed up 40 cents, or 3.4 percent, to $12.10 on the Nasdaq.