\nSimulations Plus, Inc. (Nasdaq: SLP), a leading provider of modeling and simulation solutions for the pharmaceutical, biotechnology, chemical, and consumer goods industries, today reported financial results for its third quarter of fiscal 2021, ended May 31, 2021.\n<\/p>\n
Third Quarter Fiscal 2021 Financial highlights <\/b>(compared with the corresponding period last fiscal year):\n<\/p>\n YTD Financial highlights<\/b> (compared with the corresponding period last fiscal year):\n<\/p>\n \nShawn O\u2019Connor, chief executive officer of Simulations Plus, said: \u201cOur software business continued its strong performance during the quarter, with revenues increasing by 21% versus last year as product updates and cross-selling initiatives led to an acceleration in growth rates. However, our overall growth rate was moderated due to a higher than normal number of late quarter project delays and drug development program cancellations in our services business, which has historically had periods of volatility. Despite these delays and cancellations, our services pipeline continued to expand, and backlog grew in the quarter. While these trends are encouraging and support our long-term outlook, the delays in services projects will impact the growth rates for the remainder of our fiscal year, and we now expect full-year revenue growth of 5 to 10%.\u201d\n<\/p>\n \nMr. O\u2019Connor concluded, \u201cThe accelerating growth of software revenue and leverage in our business model continues to support strong and increasing profitability as demonstrated by our net income for the first nine months of fiscal 2021 already exceeding full-year fiscal 2020 net income. With a strong balance sheet, growing industry adoption of artificial intelligence-based simulation software and outsourced services, and an acceleration in software sales, we believe we are well-positioned for success and continue to target annual revenue growth rates above 15% over the next several years following fiscal 2021.\u201d\n<\/p>\n Quarterly Dividend Declared<\/b><\/p>\n \nThe Company\u2019s Board of Directors has declared a cash dividend of $0.06 per share of the Company\u2019s common stock, payable on August 2, 2021, to shareholders of record as of July 26, 2021. The declaration of any future dividends will be determined by the Board of Directors each quarter and will depend on earnings, financial condition, capital requirements, and other factors.\n<\/p>\n Investor Conference Call<\/b><\/p>\n \nThe Company will host a conference call on July 12, 2021, at 4:15 p.m. Eastern Time. All interested parties are invited to join the call by registering here<\/a> or by calling 1-201-389-0879. Please join 5 to 10 minutes before the scheduled start time. The call will be webcast live and will be available on the Investors page of the Simulations Plus website at https:\/\/www.simulations-plus.com\/investorscorporate-profile\/corporate-profile\/<\/a>. A replay of the webcast will be available on the website approximately one hour following the call.\n<\/p>\n About Simulations Plus, Inc.<\/b><\/p>\n \nServing clients worldwide for 25 years, Simulations Plus, Inc., is a leading provider of modeling and simulation software and consulting services supporting drug discovery, development research, and regulatory submissions. With our subsidiaries Cognigen, DILIsym Services, and Lixoft, we offer solutions that bridge machine learning, physiologically based pharmacokinetics, quantitative systems pharmacology\/toxicology, and population PK\/PD modeling approaches. Our technology is licensed and applied by major pharmaceutical, biotechnology, chemical, consumer goods companies, and regulatory agencies worldwide. For more information, visit our website at www.simulations-plus.com<\/a>. Follow us on Twitter<\/a> | Read our Environmental, Social, and Governance (ESG) Report<\/a>.\n<\/p>\n Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995<\/b> \u2013 Except for historical information, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties. Words like \u201cbelieve,\u201d \u201cexpect,\u201d and \u201canticipate\u201d mean that these are our best estimates as of this writing, but that there can be no assurances that expected or anticipated results or events will actually take place, so 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 new software and 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, our ability to identify and close acquisitions on terms favorable to the Company, and a sustainable market. Further information on our risk factors is contained in our quarterly and annual reports and filed with the U.S. Securities and Exchange Commission.\n<\/p>\n Three months ended<\/b><\/p>\n<\/td>\n Nine months ended<\/b><\/p>\n<\/td>\n<\/tr>\n \n(Unaudited)\n<\/p>\n<\/td>\n \n(Unaudited)\n<\/p>\n<\/td>\n<\/tr>\n 2021<\/b><\/p>\n<\/td>\n 2020<\/b><\/p>\n<\/td>\n 2021<\/b><\/p>\n<\/td>\n 2020<\/b><\/p>\n<\/td>\n<\/tr>\n \n$\n<\/p>\n<\/td>\n \n12,777\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n12,298\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n36,625\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n32,049\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,471\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,666\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n7,815\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 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\n\u00a0\n<\/p>\n<\/td>\n \n7,326\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n6,087\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,260\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n438\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,405\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n927\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n10,826\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n11,898\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n6,596\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n7,008\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n12,921\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n12,921\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n51\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n51\n<\/p>\n<\/td>\n<\/tr>\n $<\/b><\/p>\n<\/td>\n 179,083<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 168,422<\/b><\/p>\n<\/td>\n<\/tr>\n \n$\n<\/p>\n<\/td>\n \n298\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n351\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,598\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,251\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n16\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u2014\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n3,333\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,000\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n127\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n141\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n426\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n463\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n542\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n300\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n7,340\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n5,506\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,270\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n2,354\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n980\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n463\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n3,095\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n4,064\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n13,685\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n12,387\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n131,994\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n128,541\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n33,310\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n27,436\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n94\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n58\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n165,398\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n156,035\n<\/p>\n<\/td>\n<\/tr>\n $<\/b><\/p>\n<\/td>\n 179,083<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 168,422<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\u00a0\n<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210712005740\/en\/<\/a><\/span><\/p>\n Simulations Plus Investor Relations Hayden IR KEYWORDS:<\/b> United States North America California<\/p>\n INDUSTRY KEYWORDS:<\/b> Consulting Biotechnology Technology Manufacturing Professional Services Health Pharmaceutical Research Software Science Chemicals\/Plastics<\/p>\n\n
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\n SIMULATIONS PLUS, INC.<\/b><\/td>\n<\/tr>\n \n CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME<\/b><\/td>\n<\/tr>\n \n For the three and nine months ended May 31, 2021 and 2020<\/b><\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n (in thousands, except per common share amounts)<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Revenues<\/b><\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Cost of revenues<\/b><\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Gross margin<\/b><\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Operating expenses<\/b><\/td>\n \n \n \n \n \n \n \n <\/tr>\n \n Selling, general, and administrative<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Research and development<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Total operating expenses<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Income from operations<\/b><\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Other income (expense)<\/b><\/td>\n \n \n \n \n \n \n \n <\/tr>\n \n Interest income<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Interest expense<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Change in value of contingent consideration<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Income\/(Loss) on currency exchange<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Total other income (expense), net<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Income before provision for income taxes <\/b><\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Provision for income taxes<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Net income<\/b><\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Earnings per share<\/b><\/td>\n \n \n \n \n \n \n \n <\/tr>\n \n Basic<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Diluted<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Weighted-average common shares outstanding <\/b><\/td>\n \n \n \n \n \n \n \n <\/tr>\n \n Basic<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Diluted<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Other Comprehensive Income, net of tax<\/b><\/td>\n \n \n \n \n \n \n \n <\/tr>\n \n Foreign currency translation adjustments<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Comprehensive Income<\/b><\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n SIMULATIONS PLUS, INC. <\/b><\/td>\n<\/tr>\n \n CONDENSED CONSOLIDATED BALANCE SHEETS<\/b><\/td>\n<\/tr>\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n (in thousands, except share and per share amounts)<\/td>\n \n \n \n \n \n ASSETS<\/b><\/td>\n \n \n \n <\/tr>\n \n \n \n \n \n \n \n Current assets<\/b><\/td>\n \n \n \n <\/tr>\n \n Cash and cash equivalents<\/td>\n \n \n \n \n \n \n \n Accounts receivable, net of allowance for doubtful accounts of $100 and $50<\/td>\n \n \n \n \n \n \n \n Revenues in excess of billings<\/td>\n \n \n \n \n \n \n \n Prepaid income taxes<\/td>\n \n \n \n \n \n \n \n Prepaid expenses and other current assets<\/td>\n \n \n \n \n \n \n \n Short-term investments<\/td>\n \n \n \n \n \n \n \n Total current assets<\/td>\n \n \n \n \n \n \n \n Long-term assets<\/b><\/td>\n \n \n \n <\/tr>\n \n Capitalized computer software development costs, net of accumulated amortization of $14,616 and $13,582<\/td>\n \n \n \n \n \n \n \n Property and equipment, net<\/td>\n \n \n \n \n \n \n \n Operating lease right-of-use assets<\/td>\n \n \n \n \n \n \n \n Intellectual property, net of accumulated amortization of $6,159 and $5,087<\/td>\n \n \n \n \n \n \n \n Other intangible assets, net of accumulated amortization of $2,054 and $1,642<\/td>\n \n \n \n \n \n \n \n Goodwill<\/td>\n \n \n \n \n \n \n \n Other assets<\/td>\n \n \n \n \n \n \n \n Total assets<\/b><\/td>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n LIABILITIES AND SHAREHOLDERS’ EQUITY<\/b><\/td>\n \n \n \n <\/tr>\n \n Current liabilities<\/b><\/td>\n \n \n \n <\/tr>\n \n Accounts payable<\/td>\n \n \n \n \n \n \n \n Accrued payroll and other expenses<\/td>\n \n \n \n \n \n \n \n Income taxes payable<\/td>\n \n \n \n \n \n \n \n Current portion – contracts payable<\/td>\n \n \n \n \n \n \n \n Billings in excess of revenues<\/td>\n \n \n \n \n \n \n \n Operating lease liability, current portion<\/td>\n \n \n \n \n \n \n \n Deferred revenue<\/td>\n \n \n \n \n \n \n \n Total current liabilities<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Long-term liabilities<\/b><\/td>\n \n \n \n <\/tr>\n \n Deferred income taxes, net<\/td>\n \n \n \n \n \n \n \n Operating lease liability<\/td>\n \n \n \n \n \n \n \n Payments due under contracts payable<\/td>\n \n \n \n \n \n \n \n Total liabilities<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Commitments and contingencies <\/b><\/td>\n \n \n \n <\/tr>\n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Shareholders’ equity<\/b><\/td>\n \n \n \n <\/tr>\n \n Preferred stock, $0.001 par value 10,000,000 shares authorized, no shares issued and outstanding<\/td>\n \n \n \n \n \n \n \n Common stock, $0.001 par value and additional paid in capital \u2014 50,000,000 shares authorized, 20,121,040 and 19,923,277 shares issued and outstanding<\/td>\n \n \n \n \n \n \n \n Retained earnings<\/td>\n \n \n \n \n \n \n \n Accumulated other comprehensive income<\/td>\n \n \n \n \n \n \n \n Total shareholders’ equity<\/td>\n \n \n \n \n \n \n \n Total liabilities and shareholders’ equity<\/b><\/td>\n \n \n \n \n \n \n <\/p>\n
\n<\/span>
Ms. Renee Bouche
\n
661-723-7723
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renee@simulations-plus.com<\/a><\/p>\n
\n<\/span>
Mr. Brian Siegel
\n
346-396-8696
\n
brian@haydenir.com<\/a><\/p>\n
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