dickmilde
6 years ago
Simulations Plus Reports FY2018 and Fourth Quarter
( SLP is almost a 100 bagger... Amazing ! )
Full Fiscal Year Pharmaceutical Software and Services Revenues Up 22.9%; Earnings per share of $0.50, up 51.4% over prior year
Simulations Plus, Inc. (SLP), a leading provider of software for pharmaceutical discovery and development, today reported its financial results for its 2018 fiscal year (FY18) and fourth quarter (4Q18) ended August 31, 2018.
Results for the 2018 fiscal year (FY18):
Revenues were $29.7 million, up 22.9% over $24.1 million in FY17
Gross profit was up 21.5%, or $3.8 million, to $21.7 million, from $17.8 million in FY17
SG&A expense increased 16.9% to $9.6 million from $8.2 million in FY17
As a percent of sales, SG&A decreased 1.7% to 32.3% from 34.0% in FY17
R&D expenditures were $3.9 million in FY18, up 45%, or $1.2 million, over $2.7 million in FY17
For FY18, $2.1 million was capitalized and $1.8 million was expensed
For FY17, $1.4 million was capitalized and $1.4 million was expensed
Operating income was $10.3 million up $2.0 million from $8.3 million in FY17
Net income, inclusive of a $1.2 million income tax benefit, was $8.9 million, up 54.4% from $5.8 million in FY17
Net income from operations increased 23.0%
Net income per fully diluted share was $0.50, up 51.4%, or $0.17, from $0.33 for FY17
Cash was $9.4 million, an increase of $3.2 million, or 51.2%, from $6.2 million at the end of FY17. Cash today is $9.5 million
Results for the fourth quarter of FY18 (4Q18):
Revenues were $6.7 million, up $422,000, or 6.7%, compared to $6.3 million in 4Q17
Gross profit was up 6.4% to $4.6 million, an increase of $274,000 from $4.3 million in 4Q17
SG&A decreased 8.2%, or $200,000, to $2.2 million from $2.4 million in 4Q17
R&D expenditures were $951,000, an increase of 9.3% from $870,000 in 4Q17
For 4Q18, $514,000 was capitalized and $437,000 was expensed
For 4Q17, $455,000 was capitalized and $415,000 was expensed
Operating income was $1.9 million up $452,000, or 31.3%, from $1.4 million in 4Q17
Net income was $1.34 million, up 16.2% from $1.15 million in 4Q17
Earnings per fully diluted share were $0.07, up 14.6%, or $0.01, over $0.06 in 4Q17
Shawn OโConnor, chief executive officer of Simulations Plus, said: โFiscal 2018 financial results for the Company were excellent, continuing the trend of strong revenue growth and profitability the Company has enjoyed for many years.
https://finance.yahoo.com/news/simulations-plus-reports-fy2018-fourth-210500426.html
dickmilde
6 years ago
Changing of the guards.
Simulations Plus Names Shawn OโConnor as CEO
( The new guy has one helluva task ahead of him to improve on what Walt Woltosz has accomplished. )
LANCASTER, Calif.--(BUSINESS WIRE)--
Simulations Plus, Inc. (SLP), the premier provider of simulation and modeling software and consulting services for all stages of pharmaceutical discovery and development, today announced that Shawn M. OโConnor will become its chief executive officer effective June 26, 2018.
Mr. OโConnor brings more than three decades of executive experience from multiple industries with companies ranging from start-ups to publicly traded companies and a proven track record for strategy definition, building strong organizations, optimizing revenue, profitability, and cash flow, and creating value for investors. He recently served as president, chief executive officer and a director of Entelos, a provider of unique quantitative systems pharmacology software and services to the pharmaceutical drug development market. Prior to Entelos, OโConnor served as chairman, president, and chief executive officer of Pharsight Corporation, a developer and marketer of software products and services that help pharmaceutical and biotechnology companies improve their decision-making in drug development and commercialization. In this role, he developed a software product strategy resulting in significant revenue, gross profit, and cash flow improvements, which resulted in a 20X increase in valuation. Mr. OโConnor earned a Bachelor of Science in business administration from the University of California at Berkeley and completed the Executive Education Program at Stanford University Graduate School of Business.
Walt Woltosz, chairman and chief executive officer of Simulations Plus, said: โThe subject of the succession plan for Simulations Plus has been a topic of increasing importance. While my health is excellent and I continue to enjoy the work, itโs clear that we owe it to our shareholders, employees, and customers to have a solid succession plan, and, personally, the opportunity to retire while I can still do things that require significant physical activity makes sense. Accordingly, we are pleased to announce that Mr. Shawn OโConnor has been selected as the second CEO of Simulations Plus. I first became acquainted with Shawn in 2009 when we considered acquiring the assets of Entelos. Shawn has had a distinguished career in the pharmaceutical software industry with public companies serving as CEO of Entelos and Pharsight Corporation and as CFO of Diasonics, Inc., all of which operate in a similar product and market space as Simulations Plus. I am confident in his unique qualifications to lead the Company toward further growth and profitability. I will remain engaged with the company to assist Shawn during the transition and thereafter as an outside director.โ
โOver the past 22 years, Waltโs vision and leadership have been the driving forces behind Simulations Plus becoming one of the most significant companies delivering innovative drug discovery and development software, clinical pharmacological consulting, and quantitative systems pharmacology models to drug developers,โ stated Shawn OโConnor. โHe has built a company committed to delivering for its customers, employees, and shareholders. I believe the opportunity that lies ahead for Simulations Plus is enormous, and I am honored and eager to be leading the company going forward. I have devoted the last 15+ years of my career to the development of in silico modeling for use in drug development and personalized medicine applications to impact patient outcomes positively and reduce health care costs, and I have never been as optimistic as now that the benefits of these efforts are being achieved at an accelerated pace and are poised for significant growth.โ
https://finance.yahoo.com/news/simulations-plus-names-shawn-o-123000459.html
dickmilde
7 years ago
SLP Reports Record Second Quarter FY2018 Revenue
( SLP is now a "69 bagger" from the dotcom bust in the early 2000's. I am still holding all my shares.)
Simulations Plus, Inc. (SLP), the premier provider of simulation and modeling software and consulting services for all stages of pharmaceutical discovery and development from the earliest discovery through all phases of clinical trials, today reported financial results for its second quarter of fiscal year 2018, the period ended February 28, 2018 (2QFY18).
2QFY18 highlights compared with 2QFY17:
Revenues were $7.4 million, up $1.7 million, or 28.9%, compared to $5.7 million in 2QFY17
57% of the increase is from DILIsym Services, acquired on June 1, 2017
Gross profit was $5.2 million, up $1.1 million, or 26.2%, compared to $4.2 million in 2QFY17
48% of the increase is from DILIsym Services, acquired on June 1, 2017
Gross margin was 71.2%, down slightly from 72.8% in 2Q17, because more of the new revenues from DILIsym are from consulting rather than software
SG&A expenses were $2.3 million, up $0.4 million, or 20.1%, compared to $1.9 million in 2QFY17
Income from operations was $2.4 million, up $0.6 million, or 34.7%, compared to $1.8 million in 2QFY17
31% of this operating income increase is from DILIsym Services, acquired on June 1, 2017
The Company recorded a benefit for income taxes of $1.1 million in 2QFY18 compared to $589,000 of income tax expense in 2QFY17, due to the effects of a $1.5 million one-time adjustment to deferred taxes based on the new Federal tax law and the lower blended Federal tax rates for the 2nd quarter of this fiscal year
Inclusive of the $1.5 million adjustment, net income was $3.5 million, up $2.3 million, or 190.6%, compared to $1.2 million in 2QFY17; without the adjustment, income would have been $2.0 million for the quarter, up $0.8 million or 65%
Inclusive of the tax benefit, diluted earnings per share increased $0.13 to $0.19 from $0.07; the tax adjustment accounted for $0.08 of the increase in quarterly diluted earnings per share
6MoFY18 highlights compared with 6MoFY17:
Revenues were $14.4 million, up $3.3 million, or 29.7%, compared to $11.1 million for 6MoFY17
62% of the increase is from DILIsym Services, acquired on June 1, 2017
Gross profit was $10.6 million, up $2.34 million, or 28.4%, compared to $8.2 million for 6MoFY17
56% of the increase is from DILIsym Services, acquired on June 1, 2017
Gross margin was 73.3%, down slightly from 74.0% in 2Q17, because more of the new revenues from DILIsym are from consulting rather than software
SG&A expenses were $4.7 million, up $0.94 million, or 24.6%, compared to $3.8 million for 6MoFY17
Income from operations was $5 million, up $1.26 million, or 33.8%, compared to $3.7 million for 6MoFY17
48% of this operating income increase is from DILIsym Services, acquired on June 1, 2017
The non-recurring benefit for income taxes for the six-month period was $289,000, compared to $1.2 million of income tax expense in 6MoFY17, due to the adjustment mentioned above and the lower blended Federal rates for the second quarter of this fiscal year.
Inclusive of the tax benefit, net income was $5.2 million, up $2.63 million, or 103.0%, compared to $2.6 million for 6MoFY17; without the adjustment, income would have been $3.7 million for the quarter, up $1.1 million or 44%
Inclusive of the tax benefit, diluted earnings per share increased $0.14 to $0.29 from $0.15, the tax adjustment accounted for $0.08 of the increase in diluted earnings per share
John Kneisel, chief financial officer of Simulations Plus, said, โWe saw another strong quarterly revenue growth in our core divisions in Lancaster and Buffalo coupled with the new revenues and profits from DILIsym Services acquired in the last quarter of our prior fiscal year. Even with the addition of a higher percentage of non-software sales we have seen increases in operating income margins. The Company produced a 28.9% growth in revenues and a 34.7% growth in income from operations.โ
https://finance.yahoo.com/news/simulations-plus-reports-record-second-200100996.html
dickmilde
7 years ago
Täglich has an updated research report:
Maintaining Buy rating and increasing our 12-month price target to $17.35 per share from $13.35 due to increased sector valuation and forecasted EPS growth to FY19.
SLPโs long-term growth should be driven by the increased use of software tools and consulting analytics for drug discovery, as well as the expansion, integration, and development of new products from the acquisition of Cognigen Corp. in FY15 and the 4Q17 acquisition of DILIsym Services, Inc.
On June 1, 2017 the company acquired North Carolina based DILIsym Services, Inc., a provider of drug- induced liver injury simulation software and related consulting services. In calendar 2016, DILIsym generated net earnings of approximately $720,000 on revenue in excess of $3 million.
SLP has penetrated nearly 20% of the pharmaceutical, biotechnology, and generic companies that would be potential users of its software and/or consulting services. In April 2017, an agreement with Quantum Bio Solutions of South Korea gave SLP the opportunity to sell its software tools to at least 40 new organizations.
3Q17 EPS (reported 7/10/17) was $0.12 per share, on a 12.2% rise in sales to $6.7 million. We forecasted sales of $6.5 million and EPS of $0.11. In the year-ago period, SLP reported EPS of $0.11 on sales of $6 million
We increase our FY17 sales and EPS forecasts to $22.9 million (prior was $22 million) and $0.32 per share (prior was $0.31) due to 3Q17 results and the anticipated 4Q17 contribution from the acquisition of DILIsym.
For FY18, we increased by $0.04 per share our EPS projection to $0.40 on sales growth of 19% to $27.2 million (prior was $24.2 million) due to a full year contribution from DILIsym.
In FY19, we project EPS of $0.48 per share on sales growth of 10.5%. Our accelerated EPS growth forecast reflects an increase in software customers and consulting services reaching at least 33% of total sales.
See the full report at:
http://www.taglichbrothers.com/companyreports/simplus/simplus-07192017.pdf
dickmilde
7 years ago
Another acquisition for SLP...
Simulations Plus, Inc. (NASDAQ: SLP), a leading provider of simulation and modeling software for pharmaceutical discovery and development, today announced that the Stock Purchase Agreement (the โAgreementโ) with DILIsym Services, Inc. (โDILIsymโ) of Research Triangle Park, North Carolina, announced on May 1, 2017, has been closed as of today, and DILIsym is now a division of Simulations Plus. DILIsym is the global leader in the simulation of drug-induced liver injury (โDILIโ).
Pursuant to the Agreement, upon closing, DILIsym has become a wholly owned subsidiary of Simulations Plus and will continue to operate under the DILIsym name. As a result of this accretive acquisition, the total number of Simulations Plus employees is increasing from 70 to 81. DILIsym realized revenues of just over $3 million in 2016 with $720,000 in net earnings. Management expects to grow the business going forward.
dickmilde
8 years ago
SLP posts another record quarter.
1QFY17 highlights compared with 1QFY16:
Net revenues increased 12.0%, or $579,000, to a new first quarter record $5.42 million vs. $4.84 million
Gross profit increased 8.7% to $4.08 million from $3.76 million
SG&A was $1.86 million, an increase of $187,000 or 11.2%, from $1.68 million
SG&A as a percentage of revenues decreased slightly from 34.6% to 34.4%
Income before taxes increased $250,000 or 14.6%, to $1.97 million from $1.72 million
Net income increased $255,000 or 23.1%, to $1.36 million from $1.11 million
Diluted earnings per share increased 22% or $0.014, to $0.078 from $0.064 per share
http://finance.yahoo.com/news/simulations-plus-reports-first-quarter-210100165.html