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Earnings Rise for Lancaster Software Developer

Pharmaceutical software developer Simulations Plus Inc. reported increased profit and revenue in its fiscal fourth quarter, boosted by growth in its consulting and training business. The Lancaster company, which designs and licenses software used in pharmaceutical drug research, reported net income of $349,000 (2 cents a share) in the quarter ended Aug. 31, compared with $173,000 (1 cent) in the same period a year earlier. Revenue increased 15 percent to $1.64 million. Research and development costs increased from $36,000 to $203,000, due to additional staff and work on the development of a new software program that will simulate molecules used in malaria treatment drugs. “Our sustained growth and profitability in this business is the result of our annual license business model and the high renewal rates that we have consistently enjoyed, as well as continued growth in our consulting, collaboration and training activities,” said Chairman and Chief Executive Walt Woltosz, in a statement. Last November, the company sold its Words+ subsidiary, which designs communications products for the disabled to focus primarily on its software development business. Shares were up 3 cents, or less than 1 percent, to $4.47 in midday trading on the Nasdaq.

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