TMCnet News
Simulations Plus Reports FY2016 and Fourth Quarter FY2016 Financial ResultsSimulations Plus, Inc. (NASDAQ: SLP), a leading provider of software for pharmaceutical discovery and development, today reported its financial results for its 2016 fiscal year (FY16) and fourth quarter (4Q16) ended August 31, 2016. Results for the 2016 fiscal year (FY16):
Results for the fourth quarter FY16 (4Q16):
Walt Woltosz, chairman and chief executive officer of Simulations Plus, said: "Fiscal year 2016 was an excellent year for Simulations Plus, with record revenues, an increase in net income of nearly 29% and EPS up 27.5%. We remain committed to rewarding our shareholders, as evidenced by the recently announced dividend. We have continued to improve our software offerings and released new versions of ADMET Predictor™, DDDPlus™, and KIWI during 2016, and introduced our newest product, PKPlus™, to the market just before the end of the fiscal year. Our approximately $5 million contract with a major research foundation is the first of its kind for us, and we believe future opportunities may exist for similar work in other areas. Our funded projects with the FDA continue to progress well, adding improvements to our flagship GastroPlus™ software that will be available in future releases." Dr. Ted Grasela, president of Simulations Plus and Cognigen, added: "We continue to find new ways of combining the expertise in Buffalo with Lancaster and solve interesting and important challenges for our clients. Our scientists are involved in industry-wide initiatives, such as the SimInhale consortium to ensure that we can incorporate emerging science into our software products and consulting services." John DiBella, vice president for marketing and sales for Simulations Plus, said: "This was an exciting year for us, as we made positive strides with the diversification of our user base and the consulting projects on which we worked. For FY16, software license revenue increased 11%, with 75 new organizations, or new departments at existing organizations, now utilizing our technology, growing our installed base. We realized significant growth in software licensing from contract research organizations and companies outside our core pharmaceutical market, which highlights the utility of our tools for various research activities. We also experienced a strong 88% account, and 94% revenue, renewal rate for the year. The consulting services division, which worked with more than 35 companies and continues to maintain a robust project pipeline heading into 2017, had revenue that comprised 31% of total revenue in FY16. With our continued focus on education and training, increased marketing efforts, and the upcoming releases of GastroPlus™ 9.5 and other programs, we believe we are in an excellent position to address the needs set forth by regulatory agencies and capitalize on the increased adoption of modeling and simulation technology across industries." Investor Conference Call November 11, 2016, 4:15 p.m. EST/1:15 p.m. PST The Company will host a conference call to discuss the Company's performance on Friday, November 11, 2016, at 4:15 p.m. Eastern Time. All interested parties are invited to join the call by registering at: https://attendee.gotowebinar.com/register/7098520015199435521. On registering, you will receive a confirmation e-mail with instructions for joining the call. Please dial in five to ten minutes prior to the scheduled start time. For listen-only mode, you may dial +1 (415) 930-5321, and enter access code: 591-425-045. About Simulations Plus, Inc. Simulations Plus, Inc., is a premier developer of drug discovery and development software, which is licensed to and used in the conduct of drug research by major pharmaceutical and biotechnology companies worldwide. The company is a global leader focused on improving the ways scientists use knowledge and data to predict the properties and outcomes of pharmaceutical and biotechnology agents. Our innovations in integrating new and existing science in medicinal chemistry, computational chemistry, pharmaceutical science, biology, and physiology into our software have made us the leading software provider for physiologically based pharmacokinetic modeling and simulation as well as a leading provider of both preclinical and clinical pharmacometric consulting services for regulatory submissions. For more information, visit our website at www.simulations-plus.com. Follow Us on Twitter Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 - With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. Our actual future results could differ significantly from those statements. Factors that could cause or contribute to such differences include, but are not limited to: our ability to maintain our competitive advantages, acceptance of our new software products as well as improved versions of our existing software by our customers, the general economics of the pharmaceutical industry, our ability to finance growth, our ability to continue to attract and retain highly qualified technical staff, and a sustainable market. Further information on our risk factors is contained in our quarterly and annual reports as filed with the U.S. Securities and Exchange Commission.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161111005821/en/ |