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Simulations Plus Revenue Climbs 21 Percent

Simulations Plus Inc. reported higher quarterly revenue and earnings Thursday as it gained new customers and expanded sales in Asia. The Lancaster company, which makes computer software for pharmaceutical research, reported net income of $1.3 million (8 cents a share) for the fiscal third quarter ended May 31, compared to net income of $993,230 (6 cents) for the same period a year ago. Revenue increased 20.9 percent to $3.7 million. Chief Executive Walt Woltosz said that 20 new customers bought the company’s software and services during the quarter, and the company’s sales grew overseas. “Our strategy for expansion into the Asian market is proving effective, as 18 percent of revenue came from that territory,” he said in a statement. “Simulations Plus continues to grow both software license sales and our consulting services business.” Shares closed Thursday up 15 cents or 2.7 percent to $5.62 on the Nasdaq.

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.

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