Simulations Plus, Inc. (NASDAQ: SLP), a leading provider of simulation and modeling software for pharmaceutical discovery and development, reported financial results for its third quarter of fiscal year 2010 ended May 31, 2010 (3QFY10).
3QFY10 highlights compared with 3QFY09:
* Consolidated revenues increased 14.9% to record $3.1 million from $2.7 million
* Pharmaceutical software and services revenues up 17.1% to $2.32 million from $1.99 million
* Words+ subsidiary revenues up 9.1% to $794,000 from $728,000
* Gross profit up 13.6% to $2.42 million from $2.13 million
* SG&A increased 13.0% to $1.12 million from $0.99 million
* R&D expense decreased 20.4% to $234,000 from $294,000
* Income before income taxes up 25.2% to $1.11 million from $0.89 million
* Net income up 30.0% to $740,000 from $569,000
* Diluted earnings per share $0.044, an increase of 30.8% from $0.034
First nine months FY10 (9moFY10) highlights compared with 9moFY09:
* Consolidated revenues increased 16.5% to record $8.5 million from $7.3 million
* Pharmaceutical software and services revenues up 21.0% to $6.3 million from $5.2 million
* Words+ subsidiary revenues up 5.2% to $2.2 million from $2.1 million
* Gross profit up 17.4% to $6.5 million from $5.5 million
* SG&A increased 9.6% to $3.2 million from $2.9 million
* R&D expense decreased 12.0% to $748,000 from $849,000
* Income before income taxes up 44.6% to $2.7 million from $1.9 million
* Net income up 45.0% to $1.8 million from $1.2 million
* Diluted earnings per share $0.11, an increase of 51.1% from $0.07
* Cash increased to $8.6 million from $7.5 million at the beginning of the fiscal year
* Shareholders’ equity increased 21% to $12.8 million from $10.6 million at the beginning of the fiscal year
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