The Lancaster maker of modeling software for the pharmaceutical industry reported fourth-quarter net income of $305,000 (1 cent per share), compared to $2.19 million (11 cents) for the same quarter a year ago. Revenue totaled $9.8 million.
Analysts on average expected earnings of 5 cents a share on revenue of $8.18 million, according to Yahoo Finance.
“We finished the year in a better position than we anticipated following our third-quarter earnings report,” Chief Executive Shawn O’Connor said in a statement. “We also benefitted from our consulting services business returning to more normalized operations with an increasing backlog and improved pipeline of new opportunities, furthering our belief that the events of the third quarter were a short-term occurrence, and the business remains fundamentally healthy.”
For the full year, the company reported earnings of 47 cents a share on revenue of $46.5 million.
Shares of Simulations Plus (SLP) closed Monday up $2.20, or 5.6 percent, to $41.57 on the Nasdaq, on a day that market closed up nearly 1 percent.