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Simulations Plus Q3 net revenues increased 58.9%

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Staff writer ▼ | July 14, 2015
Simulations Plus reported financial results for its third quarter of fiscal year 2015 ended May 31, 2015 compared to the third quarter 2014. Net revenues increased 58.9% to $5.94 million, an increase of $2.2 million from $3.74 million.
Simulations Plus
Simulations Plus   Gross profit was up 37.4%
Gross profit was up 37.4% to $4.83 million, an increase of $1.31 million from $3.51 million. SG&A was $1.62 million, an increase of 34.9% or $420,000 from $1.20 million.

R&D expenditures were $594,000, an increase of $42,000 or 7.6% over $552,000. In 3QFY15, $246,000 was capitalized and $348,000 was expensed. In 3QFY14, $317,000 was capitalized and $235,000 was expensed Income before taxes increased 35.1% to $2.82 million, an increase of $733,000 from $2.09 million.

Net income increased 41.7% to $1.85 million, an increase of $545,000 from $1.31 million. Diluted earnings per share increased 36.5% to $0.108 from $0.079.

Mr. John Kneisel, chief financial officer of Simulations Plus, said: “The Company delivered record results aided by a strong quarter of software sales and consulting revenues.

"Year-to-date diluted earnings per share reached the 20¢ mark. After distributing just over $800,000 in dividends during 3QFY15, cash on May 31 was a healthy $6.4 million and is currently at $7.8 million.”


 

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