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Income Drops for Simulations Plus

Pharmaceutical software developer Simulations Plus Inc. saw an 18 percent drop in its net income for the 2009 fiscal year when compared with the previous year. Still, the Lancaster-based firm considers the just completed fiscal year as having been a good one with an increase in consulting work and new hires to its life sciences team. “In spite of the disastrous global economy that existed for the entire fiscal year, we achieved slight growth and sustained profitability yet again – something that not many companies can say for that time period,” said Chairman and CEO Walt Woltosz. For the year ending Aug, 31, Simulations Plus reported net income of $1.4 million, or $0.08 per diluted share, on revenues of $9.1 million. For the previous fiscal year, the company had net income of $1.7 million, or $0.10 per diluted share, on revenues of $9 million. Mark R. Madler

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