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Thursday, Nov 21, 2024

Simulations Plus Beats Estimates

Simulations Plus reported results that beat expectations. The Lancaster company, which makes software for pharmaceutical research that simulates a drug’s actions in the body, reported net income of $1.36 million on revenue of $5.4 million during the fiscal first quarter ended Nov. 30. The company had earnings of 8 cents a share, compared to 6 cents for the same quarter last year. The one analyst who covers the company estimated earnings of 7 cents a share on revenue of $5 million, according to Thomson Financial. Walt Woltosz, chief executive of Simulations Plus, said fiscal 2017 is off to a good start. “The pharmaceutical industry continues to adopt simulation and modeling technology to improve productivity and reduce wasted R&D efforts on compounds that would have failed. We expect this trend to continue in 2017, and Simulations Plus is increasingly well-positioned to benefit,” he said in a statement. Simulations Plus (SLP) announced results after the market closed Monday. Shares closed Tuesday up 45 cents or 4.7 percent to $10 on the Nasdaq.

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.

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