Simulations Plus (SLP) Tops Q1 EPS by 1c
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Simulations Plus (NASDAQ: SLP) reported Q1 EPS of $0.12, $0.01 better than the analyst estimate of $0.11. Revenue for the quarter came in at $10.7 million versus the consensus estimate of $10.64 million.
Financial highlights compared with the corresponding period last fiscal year:
- Revenue increased 14% to $10.7 million
- Gross profit increased 22% to $8.3 million
- Gross margin was 77%, up from 72%
- Net income increased 21% to $2.5 million
- Diluted earnings per share increased 9% to $0.12
Shawn O’Connor, chief executive officer of Simulations Plus, said: “Our first quarter financial results were in line with our expectations highlighted by strong, double-digit revenue growth and increased profitability, despite a challenging comparison to the first quarter of fiscal 2020 that benefited from unusually strong results in our DILIsym division. The strategic investments in our sales and marketing infrastructure, and a growing reliance on modeling and simulation in the drug development ecosystem continue to facilitate strong revenue growth, as Simulations Plus bolsters its already strong position in the marketplace. The acquisition of Lixoft has meaningfully expanded our addressable market. In addition, this acquisition has had the desired impact of increasing the mix of software revenue, helping expand our overall profitability.”
“We recently signed a large COVID-19-related consulting services project with a large pharmaceutical client, validating the resources we devoted to our COVID-19 initiative and demonstrating the increasing value we play in support of our clients,” added Mr. O’Connor. “We also signed a new three-year project with a large private foundation as well as three new projects with a large non-profit biotechnology institute. Looking ahead, demand for our consulting services remains strong and next generation releases of several of our software products that are scheduled for fiscal 2021 reinforce our confidence in delivering another year of organic growth of 15% to 20% in fiscal 2021.”
For earnings history and earnings-related data on Simulations Plus (SLP) click here.
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