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news.Simulations Plus, a provider of software for pharmaceutical discovery and development, has reported revenues of $3.1m for the third quarter ended May 31, 2010, an increase of 14.9% compared to same period last year.
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Simulations Plus said that the preliminary revenues for the pharmaceutical software and services portion of the business were up 17.1% to $2.3m.
However, Simulations Plus has also reported the preliminary revenues for the Words+ subsidiary as $794,000, an increase of 9.1% over same peroid, prior year.
Walt Woltosz, chairman and CEO of Simulations Plus, said: “This is our first quarter with over $3m in sales, and it’s gratifying to see nice increases not only in the revenues from our pharmaceutical software and services business, but also in the Words+ subsidiary.
“We believe the aggressive marketing and sales program initiated last year is clearly resulting in improved financial performance, and we continue to benefit from the pharmaceutical industry’s shift toward the increased utilisation of simulation and modeling tools to increase productivity.”