SimulationsPlus Announces Growth in Fiscal Year ’08

Lancaster-based SimulationsPlus announced earnings for FY08 of $1.73 million on revenues of $8.97 million, an increase of more than 17.7 percent over last year. While overall revenues were down by $400,000 in its fourth quarter of 2008 compared to the same period in 2007, consolidated revenues were up 1.2 percent for the whole year. One black spot on the company’s financial performance was SimulationsPlus’ Words+ subsidiary, which lost revenues to the tune of 6.1 percent comparing FY07 to FY08. But growth marked the performance of the company’s core pharmaceutical software and services business, which grew at a rate of 5.2 percent in 2008. SimulationsPlus shareholders saw their holdings climb from $0.08 per fully diluted share in 2007 to $0.10 in 2008, while the volume of shareholder equity increased from 17,956,796 shares to 18,141,287 during the same period. “Along with most other industries, the pharmaceutical industry is being challenged this year to achieve greater productivity,” said Walt Woltosz, chairman and CEO of SimulationsPlus. “We believe that because our offerings are primarily productivity tools, in spite of numerous challenges in FY08, we are able to report continued growth in our pharmaceutical software and services revenues, as well as growth in overall earnings and earnings per share.”