Why Simulations Plus Stock Soared 35.9% in July
Shares of Simulations Plus (NASDAQ: SLP) jumped 35.9% in July, according to data from S&P Global Market Intelligence, after the specialized modeling and simulation software company announced strong results for its fiscal third quarter ended May 31, 2019. The company also entered into an intriguing new collaboration agreement with the U.S. Food and Drug Administration (FDA).
On the former, Simulations Plus stock jumped more than 6% on July 11, 2019 alone, the first trading day after the company's quarterly report hit the wires. In it, Simulations Plus revealed quarterly revenue had climbed 16.2% year over year, to $9.9 million. That translated to a 20.1% increase in net income, to $2.9 million, and an 18.8% gain in earnings per share, to $0.16. Analysts, on average, were expecting earnings of just $0.14 per share on slightly lower revenue.
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