Simulations Plus Q3 Profit Rises - Quick Facts

(RTTNews) - Simulations Plus Inc. (SLP) reported that its third-quarter net income improved to $993,230 or $0.06 per share from $869,333 or $0.05 per share in the prior year quarter. Analysts polled by Thomson Reuters expected the company to report earnings of $0.06 per share for the quarter. Analysts' estimates typically exclude special items.

Net sales for the quarter increased 11.7% to $3.095 million from $2.772 million in the year ago quarter.

Momoko Beran, chief financial officer said, "For the third quarter of fiscal year 2013, Simulations Plus delivered revenue growth of nearly 12% and continued high gross margins, exceeding 84%. As a result, net income increased 14.3% despite a substantial increase in income tax rates and a decrease on other income of over $100,000. After distributing cash dividends of approximately $5.4 million to our shareholders during calendar 2012 and another $480,000 in May 2013, our cash position remains strong, and we continue to have no debt. Cash as of July 7 was $10.322 million."