LANCASTER, Calif.--(BUSINESS WIRE)--Simulations Plus, Inc. (NASDAQ: SLP), the premier provider of simulation and modeling software and consulting services for all stages of pharmaceutical discovery and development, today announced that it will be distributing a one-time $1,000 discretionary cash bonus to each of its employees.
Walt Woltosz, chairman and chief executive officer of Simulations Plus, said, “As we announced on April 9, 2018, when we reported record financial results for our second fiscal quarter of 2018, with the effects of the Tax Cuts and Jobs Act of 2017, we posted a deferred tax benefit of approximately $1.5 million in our second fiscal quarter, as well as lower income tax rates for January and February. Even without the deferred tax benefit, net income for the quarter was up 65% owing both to our acquisition of DILIsym Services, Inc. last year and the lower tax rates for January and February. We credit the excellent performance in all three divisions for the record revenues we have been generating each quarter. For the past six years, we’ve rewarded our valued shareholders through the distribution of quarterly cash dividends, recently increasing the dividend from $0.05 per share per quarter to $0.06 per share per quarter. The Board of Directors has now voted to reward our dedicated employees with a $1,000 discretionary cash bonus. The ongoing efforts and commitment of our employees to providing the best products and services to the pharmaceutical industry are key to our success.”
About Simulations Plus, Inc.
Simulations Plus, Inc. is a premier developer of drug discovery and development software as well as a leading provider of both preclinical and clinical pharmacometric consulting services for regulatory submissions and quantitative systems pharmacology models for drug-induced liver injury and nonalcoholic fatty liver disease. The company is a global leader focused on improving the ways scientists use knowledge and data to predict the properties and outcomes of pharmaceutical, biotechnology, and chemical agents. Our software is licensed to and used in the conduct of drug research by major pharmaceutical, biotechnology, chemical, and consumer goods companies and regulatory agencies worldwide. Our innovations in integrating new and existing science in medicinal chemistry, computational chemistry, pharmaceutical science, biology, and physiology into our software have made us the leading software provider for physiologically based pharmacokinetic modeling and simulation. For more information, visit our website at www.simulations-plus.com.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 – With the exception of historical information, the matters discussed in this press release are forward-looking statements that involve a number of risks and uncertainties. Our actual future results could differ significantly from those statements. Factors that could cause or contribute to such differences include, but are not limited to: our ability to maintain our competitive advantages, acceptance of our new software products as well as improved versions of our existing software by our customers, the general economics of the pharmaceutical industry, our ability to finance growth, our ability to continue to attract and retain highly qualified technical staff, and a sustainable market. Further information on our risk factors is contained in our quarterly and annual reports and filed with the U.S. Securities and Exchange Commission.