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Tuesday, Apr 23, 2024

Simulations Plus Weathering Poor Economy

Simulations Plus Inc. moves ahead with expansion plans that include new hires and an acquisition. The Lancaster-based software developer for the pharmaceutical industry will have new programs available this year, attended and/or exhibited at eight different scientific meetings in April, and will announce a new director of business development in May. “In other words, we’re spending money to make money,” said company Chairman and CEO Walt Woltosz. For the second quarter ending Feb. 28, Simulations Plus reported a net income of $368,072, or $0.02 per diluted share, on revenues of $2.5 million. That is a decrease from the net income of $564.809, or $0.03 per diluted share, on revenues of $2.2 million in the same period in 2008. Simulations Plus continues a financial check on an acquisition company first mentioned during the first quarter. Although this process is taking longer than expected, we hope to conclude it one way or another within the next two or three months,” Woltosz said. “As our cash is growing, we are able to consider additional acquisition opportunities as well.” Mark R. Madler

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