8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

April 14, 2015

(Date of the earliest event reported)

Simulations Plus, Inc.

(Exact name of registrant as specified in its charter)

California	001-32046	95-4595609
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

42505 10^th Street West, Lancaster, California 93534-7059

(Address of principal executive offices) (Zip Code)

661-723-7723

Registrant's telephone number, including area code

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

[ ] Soliciting material pursuant to Rule 14z-12 under Exchange Act (17 CFR 240.14a-12)

[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under Exchange Act (17 CFR 240.14d-2(b))

[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under Exchange Act (17 CFR 240.13e-4(c))

Item 8.01 Other Events

On April 14, 2015, Simulations Plus, Inc., a California corporation (the "Company"), held a conference call reporting its financial results for its second fiscal quarter and the six months ended February 28, 2015.

The press release of April 14^th, 2015, and the PowerPoint slides that were used for this Conference Call, are attached herein as exhibits.

This report on Form 8-K (the "Report"), including the disclosures set forth herein, contains certain forward-looking statements that involve substantial risks and uncertainties. When used herein, the terms "anticipates," "expects," "estimates," "believes" and similar expressions, as they relate to us or our management, are intended to identify such forward-looking statements.

Forward-looking statements in this Report or hereafter, including in other publicly available documents filed with the Securities and Exchange Commission (the "Commission"), reports to the stockholders of Simulations Plus, Inc., a California corporation (the "Company" or "us," "our" or "we") and other publicly available statements issued or released by us involve known and unknown risks, uncertainties and other factors which could cause our actual results, performance (financial or operating) or achievements to differ from the future results, performance (financial or operating) or achievements expressed or implied by such forward-looking statements. Such future results are based upon management's best estimates based upon current conditions and the most recent results of operations. These risks include, but are not limited to, the risks set forth herein and in such other documents filed with the Commission, each of which could adversely affect our business and the accuracy of the forward-looking statements contained herein. Our actual results, performance or achievements may differ materially from those expressed or implied by such forward-looking statements.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

99.1 PowerPoint presentation at the Conference Call on April 14, 2015.

99.2 Press Release dated April 14, 2015

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	SIMULATIONS PLUS, INC.
Dated: April 15, 2015	By: /s/ John R Kneisel
	John R. Kneisel
	Chief Financial Officer

EX-99.1

Exhibit 99.1

Copyright (c) 2015 Simulations Plus, Inc. 1 Simulations Plus, Inc . and its wholly owned subsidiary Cognigen Corporation ( NASDAQ:SLP ) Investor Call April 14, 2015

Copyright (c) 2015 Simulations Plus, Inc. 2 With the exception of historical information, the matters discussed in this presentation are forward - looking statements that involve a number of risks and uncertainties . The actual results of the Company could differ significantly from those statements . Factors that could cause or contribute to such differences include, but are not limited to : continuing demand for the Company’s products, competitive factors, the Company’s ability to finance future growth, the Company’s ability to produce and market new products in a timely fashion, the Company’s ability to continue to attract and retain skilled personnel, and the Company’s ability to sustain or improve current levels of productivity . Further information on the Company’s risk factors is contained in the Company’s quarterly and annual reports and filed with the Securities and Exchange Commission . Safe Harbor Statement

Copyright (c) 2015 Simulations Plus, Inc. 3 • Major provider of software and consulting services for pharmaceutical research and development • Expertise and software tools span from earliest drug discovery through clinical trials and beyond patent life to supporting generic companies • New applications being explored in aerospace and general healthcare • Acquisition of Cognigen Corp. in September 2014 more than doubled workforce, expected to add $4.8 to $5 million to revenues in FY15. Consolidated results are presented herein. • In 2QFY15, revenues increased by 48.4%, or $1.5 million, to $4.6 million from $3.1 million • In 2QFY15, gross profit increased by 33.2%, or $860,000, to $3.5 million from $2.6 million • Distributing a dividend of $0.05/quarter, subject to board approval each quarter Simulations Plus, Inc. Overview

Copyright (c) 2015 Simulations Plus, Inc. 4 • Revenues increased by 48.4%, or $1.5 million, to $ 4.6 million from $3.1 million ‒ Cognigen revenues were $ 1.27 million, up by $140,000 over prior quarter ‒ Simulations Plus revenue increased 7.2%, or $221,000, in 2QFY15 versus 2QFY14; analytical study revenues increased $171,000 in 2QFY15 compared to 2QFY14 . Simulations Plus revenue was affected by a $250,000 renewal order that slipped to 3QFY15. • Gross profit increased 33.2%, or $860,000, to $3.5 million in 2QFY15 from $2.6 million in 2QFY14 ‒ $737,000 of increase is from Cognigen, which showed a 58% gross margin ‒ Simulations Plus margin for the quarter was 82.1%, down 2.5% from 84% in 2QFY14 ‒ Consolidated gross margin decreased to 75.4% from 84 %, the result of the blending of margins on consulting revenues of Cognigen with higher software margins of Simulations Plus 2QFY15 Highlights Compared to 2QFY14 Fiscal Quarter Ended 2/28/15

Copyright (c) 2015 Simulations Plus, Inc. 5 • SG&A increased 46.1%, or $ 509,000, to $1.6 million from $1.1 million the prior year ‒ $539,000 of increase is from Cognigen operating expenses ‒ Simulations Plus SG&A decreased $30,000 ‒ Total SG &A decreased to 32.5% of revenues in 2QFY15 from 35.8% in 2QFY14 • R&D spend and expense remained fairly constant • Other income ( expense) decreased by $ 42,000 in 2QFY15 versus 2QFY14 as a result of foreign currency fluctuations ‒ We recently made a ~5% increase to prices in our main Asian market. We do not anticipate this increase will have a significant impact on sales . ‒ This Asian market represented 15% of software sales for the quarter. 2QFY15 Highlights Compared to 2QFY14 Fiscal Quarter Ended 2/28/15, cont’d.

Copyright (c) 2015 Simulations Plus, Inc. 6 • Net income increased by 19.8%, or $ 160,000, to $970,000 in 2QFY15 from $810,000 in 2QFY14 ‒ $124,000 of this increase were earnings from Cognigen subsidiary ‒ Simulations Plus profit increase was affected by a $250,000 renewal order that pushed into the next quarter • EBITDA increased 45% to $1.97 million in 2QFY15 versus $1.36 million in 2QFY14 • Diluted earnings per share was $ 0.056 in 2QFY15 , an increase of $0.007 from $ 0.049 in 2QFY14 • If the $250,000 order had not slipped to the following week, earnings per share would have been $0.07 per share • Cash dividends totaling $0.05/share were distributed during this fiscal quarter 2QFY15 Highlights Compared to 2QFY14 Fiscal Quarter Ended 2/28/15, cont’d.

Copyright (c) 2015 Simulations Plus, Inc. 7 Income Statement 2QFY15 Compared to 2QFY14 (in millions) 2QFY15 2QFY14 Net sales $ 4.574 $ 3.081 Gross profit 3.448 2.589 Gross profit margin 75.4% 84.0% SG&A 1.612 1.104 R&D 0.361 0.354 Total operating expenses 1.973 1.458 Income from operations 1.475 1.131 Other income (expense) (.030) 0.012 Income from operations before income taxes 1.445 1.144 Net income 0.970 0.810 Diluted earnings per share (in dollars) 0.057 0.049 EBITDA 1.967 1.350

Copyright (c) 2015 Simulations Plus, Inc. 8 Income Statement 2QFY15, by Division (in millions) SLP Cognigen Eliminations FQY15.2 Net sales $ 3.302 $ 1.271 0.00 $ 4.574 Gross profit 2.711 0.737 0.00 3.448 Gross profit margin 82.1% 58.0% 0.00 75.4% SG&A 1.073 0.539 0.00 1.612 R&D 0.350 0.011 0.00 0.361 Total operating expenses 1.423 0.550 0.00 1.973 Income from operations 1.288 0.187 0.00 1.475 Other income (expense) (.030) .000 0.00 (.030) Income from operations before income taxes 1.258 0.187 0.00 1.445 Net income 0.846 0.124 0.00 0.970 EBITDA 1.689 0.278 0.00 1.967

Copyright (c) 2015 Simulations Plus, Inc. 9 • Revenues increased by 51.3%, or $2.9 million, to $8.7 million from $5.7 million in 6moFY14 ‒ Cognigen revenues were $2.4 million ‒ Simulations Plus revenue increased 9.3%, or $531,000, to $6.3 million in 6moFY15 versus 6moFY14; analytical study revenues increased 65%, or $156,000, to $396,000 in 6moFY15 compared to 6moFY14 ‒ If the $250,000 order had not slipped to Q3FY15 , Simulations Plus revenue for 6moFY15 would have increased $ 781,000, or 13.7% to $6.504 million • Gross profit increased 36.7%, or $ 1.76 million, to $6.54 million in 6moFY15 from $4.78 million in 6moFY14 ‒ $1.34 million of increase is from Cognigen, which showed a 56% gross margin ‒ Simulations Plus margin for the quarter was 83.1%, down 0.5% from 83.6% the prior year • Consolidated gross margin decreased to 75.4% from 83.6 %, the result of the blending of margins on consulting revenues of Cognigen with higher software margins of Simulations Plus 6moFY15 Highlights Compared to 6moFY14 Period Ended 2/28/15

Copyright (c) 2015 Simulations Plus, Inc. 10 • SG&A increased 69.2%, or $1.5 million, to $3.7 million from $2.2 million the prior year ‒ $1.1 million of the increase is from Cognigen operating expenses ‒ Simulations Plus SG&A increased $440 ,000 for 6moFY15 compared to 6moFY14 ‒ During this 6 - month period, we paid ~$400,000 in consulting fees associated with the Cognigen acquisition which increased consulting fees for the period by $351,000 compared to 6moFY14 ‒ Commission expenses to our Japanese and Chinese dealers were up by $49,000 from increased sales in those markets ‒ As a percent of revenues, SG&A increased 4.5% to 4 2.5% of revenues in 6moFY15 from 38% in 6moFY14 ‒ One - time consulting fees were majority of that increase • R&D spend of $1.25 million remained fairly constant, however, expensed portion of R&D increased by $ 117,000 to $633,000 6moFY15 Highlights Compared to 6moFY14 Period Ended 2/28/15, cont’d.

Copyright (c) 2015 Simulations Plus, Inc. 11 • Other income ( expense) decreased by $78,000 in 6moFY15 versus 6moFY14, the result of foreign currency fluctuations ‒ We recently made a ~5% increase to prices in our main Asian market. We do not anticipate this increase will have a significant impact on sales. • Net income for 6moFY15 was $1.5 million – the same as 6moFY14 ‒ During the period, the company paid out ~$400,000 of expenses related to the Cognigen acquisition ‒ $250,000 renewal order delayed into next quarter • Diluted earnings per share was $0.088 (9¢) in 6moFY15, a decrease of $ 0.004 from $0.092 (9¢) in 6moFY14 • If the $250,000 order had not slipped to the following week, earnings would have been approximately $.009 higher or 10 ¢ per share 6moFY15 Highlights Compared to 6moFY14 Period Ended 2/28/15, cont’d.

Copyright (c) 2015 Simulations Plus, Inc. 12 6moFY15 6moFY14 Net sales $ 8.660 $ 5.722 Gross profit 6.537 4.782 Gross profit margin 75.5% 83.6% SG&A 3.679 2.175 R&D 0.633 0.516 Total operating expenses 4.312 2.691 Income from continuing operations 2.225 2.091 Other income (0.034) 0.45 Income from operations before income taxes 2.191 2.136 Net income 1.499 1.495 Diluted earnings per share (in dollars) 0.09 0.09 EBITDA 3.171 3.101 Income Statement 6moFY15 Versus 6moFY14 (in millions)

Copyright (c) 2015 Simulations Plus, Inc. 13 Income Statement 6moFY15 by division (in millions) SLP Cognigen Eliminations FQY15.1 Net sales 6.254 2.406 0.00 8.660 Gross profit 5.199 1.338 0.00 6.537 Gross profit margin 83.1% 55.6% 0.00 75.5% SG&A 2.614 1.065 0.00 3.679 R&D 0.610 0.024 0.00 0.633 Total operating expenses 1.975 1.088 0.00 4.312 Income from operations 1.975 0.250 0.00 2.225 Other income (expense) (.034) .000 0.00 (.030) Income from operations before income taxes 1.941 0.250 0.00 2.191 Net income 1.335 .164 0.00 1.499 EBITDA 2.739 .432 0.00 3.171

Copyright (c) 2015 Simulations Plus, Inc. 14 Selected Balance Sheet Items (in millions) February 28, 2015 August 31, 2014 Cash and cash equivalents $6.103* $8.614 Cash per share 0.36 0.52 Total current assets 10.732 11.533 Total assets 27.062 20.981 Total current liabilities 1.468 1.391 Total liabilities 8.380 5.545 Current ratio 7.31 8.29 Shareholders’ equity 18.682 15.435 Total liabilities and shareholders’ equity 27.062 20.981 Shareholders’ equity per diluted share 1.093 0.94 * Cash as of April 10, 2015 was $7.3 million

Copyright (c) 2015 Simulations Plus, Inc. 15 2QFY15 Consolidated Sales By Region Europe 27% North America 5 9% Asia 13% South America <1% Japan = 78% China = 15% Korea = 7 %

Copyright (c) 2015 Simulations Plus, Inc. 16 New Software Customers, by Fiscal Quarter 0 5 10 15 20 25 Q1 Q2 Q3 Q4 23 20 2010 2011 2012 2013 2014 2015

Copyright (c) 2015 Simulations Plus, Inc. 17 Consolidated Revenues, by Fiscal Quarter (pro forma prior to 2012; in millions) Column1 2009 2010 2011 2012 2013 2014 2015 Q1 1.4 1.7 2.1 2.24 2.29 2.64 4.01 Q2 1.8 2.2 2.6 2.79 3.12 3.08 4.57 Q3 2 2.3 2.64 2.77 3.09 3.74 Q4 1.1 1.3 1.43 1.64 1.58 2.00 0 0.5 1 1.5 2 2.5 3 3.5 4 4.5 5 Q1 Q2 Q3 Q4 Chart Title 2009 2010 2011 2012 2013 2014 2015 $0 $1 $2 $3 $4 $5 Q1 Q2 Q3 Q4 4.01 4.57 2009 2010 2011 2012 2013 2014 2015

Copyright (c) 2015 Simulations Plus, Inc. 18 Consolidated Gross Profit, by Fiscal Quarter (pro forma prior to 2012; in millions) $0 $1 $2 $3 $4 Q1 Q2 Q3 Q4 3.09 3.45 2009 2010 2011 2012 2013 2014 2015

Copyright (c) 2015 Simulations Plus, Inc. 19 Consolidated EBITDA, by Fiscal Quarter (in millions) $0 $1 $2 $3 Q1 Q2 Q3 Q4 1.45 1.97 2009 2010 2011 2012 2013 2014 2015

Copyright (c) 2015 Simulations Plus, Inc. 20 Consolidated Net Income, by Fiscal Quarter (pro forma prior to 2012; in millions) $ - $0.20 $0.40 $0.60 $0.80 $1.00 $1.20 $1.40 Q1 Q2 Q3 Q4 $0.53 $0.97 2009 2010 2011 2012 2013 2014 2015

Copyright (c) 2015 Simulations Plus, Inc. 21 Returning Cash to Shareholders (in millions) 1.6 0.8 0.8 2.2 0 0.5 0.5 0.6 0.81 0.81 0.81 0.84 0.84 13.2 12.9 12.7 11.4 9.3 9.8 10 10.1 10.6 11 7.8 8.6 5.8 6.1 7.3 $0 $1 $1 $2 $2 $3 $0 $2 $4 $6 $8 $10 $12 $14 Dividend Paid Cash on Hand Cash paid $2.5M TSRL Cash paid $2.1M for Cognigen

Copyright (c) 2015 Simulations Plus, Inc. 22 Simulations Plus, Inc. Cognigen Growth Opportunities • Continued penetration of clinical pharmacology departments to provide more detailed mechanistic modeling for clinical data analysis in line with regulatory expectations • Social media and Email blasts emphasizing − KIWI™ functionality − Modeling & simulation services − Data Assembly services • Piggyback onto Simulations Plus’ presence at national and international scientific meetings

Copyright (c) 2015 Simulations Plus, Inc. 23 • 2QFY15 ‒ Active projects at end of quarter: ~40 ‒ New clients: 2 ‒ New projects and expansions in scope: 18 ‒ Client assistance in regulatory interactions: 25% of projects • Beyond 2QFY15 – current ‒ New clients and new clients in pipeline: 8 ‒ New projects and expansions in scope: 4 • KIWI ™ licenses 2QFY15: 3 ‒ KIWI ™ prospects: 6 ‒ KIWI ™ presentation accepted for PAGE meeting in June 2015 ‒ Targeting release of KIWI ™ Version 1.3 in June 2015 Simulations Plus, Inc. Cognigen Sales Update

Copyright (c) 2015 Simulations Plus, Inc. 24 • Of 2,500 companies registered with FDA, we have ~10% penetration with Simulations Plus products ‒ http://www.fda.gov/Drugs/NewsEvents/ucm339912.htm • AEROModeler™ ‒ Application of our artificial neural network ensemble (ANNE) technology to predict aerodynamic force coefficients for missiles at arbitrary Mach number and angle of attack ‒ Also for recognition of missiles from radar tracking data ‒ Presenting at 3 aerospace conferences in 2015 • MRIModeler™ ‒ Application of our ANNE technology to analysis of magnetic resonance imaging (MRI) data to classify patients as healthy or likely to experience various disease states ‒ Submitted SBIR grant application to NIH in April Simulations Plus, Inc. Additional Growth Opportunities

Copyright (c) 2015 Simulations Plus, Inc. 25 • Version 9.0 slated for April 2015 release ‒ Tighter integration with ADMET Predictor models – now create PBPK models from structure ‒ PBPK modeling for biologics ‒ N ew market opportunity for biopharmaceuticals (large molecules) ‒ PBPK models for dermal and oral cavity delivery ‒ N ew market opportunity for alternative delivery groups • Version 7.2 slated for April 2015 release ‒ Significantly improved and expanded metabolism predictions ‒ Refresh of the user interface slated for fall 2015 release • Version 4.0 & MedChem Designer 3.0 released in May 2014 ‒ Optical Structure Recognition (OSR) feature ‒ U ltra - fast screening methods for large molecular libraries • Version 4.5 slated for release in summer 2015 ‒ Coming soon: integration of ADMET Predictor models to predict dissolution inputs from structure – new optional add - on ‒ Coming soon: upgraded handling of complex dosage forms/formulations • Version 1.0 released in November 2014 ‒ Integration with GastroPlus™ to accurately predict IVIVE for absorption processes ‒ First license sale in Q2; 15 evaluations activated and ongoing ‒ Annual license fee of $10,000 - $15,000 for commercial use Simulations Plus, Inc. Software Product News

Copyright (c) 2015 Simulations Plus, Inc. 26 • Added 20 new software customers during 2QFY15: − New companies in US, Europe, Japan , and China − New divisions at the US FDA, US EPA, Japan PMDA, and Chinese FDA • Software renewal rate (accounts ) was 89%; 93% in terms of revenue Simulations Plus, Inc. Consolidated Sales Breakdown – 2QFY15 51% 33% 14% 2% Renewal Consulting New Training

Copyright (c) 2015 Simulations Plus, Inc. 27 • Conferences/scientific meetings continue to be primary source of leads ‒ 9 scientific meetings attended; co - authors on 7 presentations • Trainings and workshops ‒ Conducted training workshops in San Diego – full attendance ‒ 2015 workshops scheduled for US, Europe, and Asia • Strategic digital marketing initiatives ‒ Hosted 3 webinars on our software updates and applications ‒ 650 registrations ‒ Active updates: LinkedIn, Facebook, Google+, and Twitter accounts ‒ 1800+ followers of the company pages on LinkedIn; 35% increase since September 2014 ‒ GastroPlus ™ User Group now has over 616 members on LinkedIn; 32% increase since September 2014 Simulations Plus, Inc. Marketing Program – 2QFY15

Copyright (c) 2015 Simulations Plus, Inc. 28 • Center for Food Safety and Nutrition ( CFSAN) ‒ Completed third year of 5 - year renewable Research Collaboration Agreement (RCA) with CFSAN to provide model - building capabilities to predict toxicities for large number of substances that can be in foods as additives or contaminants ‒ First peer - reviewed articles from FDA scientists published in 2QFY15 • Office of Testing and Research (OTR) ‒ Completed first year of 5 - year RCA signed with OTR to validate mechanistic absorption modeling in developing predictive in vitro - in vivo correlations (IVIVCs) ‒ FDA scientists to host webinars in 3QFY15 and present at October conference • Office of Generic Drugs (OGD) ‒ Completed first ½ - year of 3 - year funded collaboration ($200,000/year) with OGD to develop improved PBPK models for ocular (eye) drug delivery ‒ Need to reach milestones to receive full funding – on target • National Toxicology Program (NTP) ‒ Completed second year of 3 - year collaboration with NTP to utilize PBPK and QSAR modeling to prioritize testing of compounds for the Tox21 program Simulations Plus, Inc. Government Collaborations

Copyright (c) 2015 Simulations Plus, Inc. 29 • For 2QFY15 and 6moFY15 - Revenues and earnings continued seven - year - plus profitable trend - Cognigen acquisition increases revenues and profit, expands offerings into clinical pharmacology; second quarter Cognigen earnings were $ 124,000 up from $ 40,000 in the first quarter of the current fiscal year • Continuing to grow revenues and customer base - Consolidated 51% revenue growth in first 6 months since Cognigen acquisition - Added 20 new customers in second quarter and total of 43 for the six months ended February 28, 2015 • Earnings per share - For the quarter, are up $.01/share - Unchanged for six months compared to prior year even with additional costs of Cognigen acquisition and large delayed order • Strong cash position; returning cash to shareholders - Company continues to pay dividends of $0.05 per quarter - Cash dividends totaling approximately $10 million have been distributed, yet cash remains at $7.3 million as of today Summary

Copyright (c) 2015 Simulations Plus, Inc. 30 Q&A

EX-99.2

Exhibit 99.2

April 14, 2015 20:01 UTC

Simulations Plus Reports Second Quarter FY2015 Financial Results

Final report of second quarter financial results

Cognigen quarterly profits rise

Consolidated net revenues up 48.4%; second quarter net income increases 19.8%

LANCASTER, Calif.--(BUSINESS WIRE)-- Simulations Plus, Inc. (NASDAQ: SLP), a leading provider of simulation and modeling software for pharmaceutical discovery and development, today reported financial results for its second quarter of fiscal year 2015 ended February 28, 2015 (2QFY15). Simulations Plus acquired Cognigen Corporation through a merger that closed on September 2, 2014. The numbers presented herein represent the consolidated financial results.

2QFY15 highlights compared with 2QFY14:

· Net revenues increased 48.4%, or $1.5 million, to $4.6 million from $3.1 million. $1.27 million of the increase was from Cognigen consulting revenue.

· Gross profit increased 33.2%, to $3.5 million from $2.6 million. $737,000 of this increase was due to Cognigen revenues.

· SG&A increased 46.1%, or $509,000, to $1.6 million. $539,000 was related to operating expenses of Cognigen, Simulations Plus SG&A expenses were down $30,000.

· Income before taxes increased 26.3% to $1.445 million, and net income was up by 19.8% to $970,000. Cognigen quarterly profits more than tripled from $40,000 in 1QFY15 to $124,000.

· Diluted earnings per share increased $0.01 to $0.06 from $0.05 per share. If the $250,000 order had not slipped to the following week, earnings would have been $0.07 per share.

6moFY15 highlights compared with 6moFY14:

· Net revenues increased 51.3%, or $2.9 million, to $8.6 million from $5.7 million. $2.4 million of the increase was from Cognigen consulting revenue.

· Gross profit increased 36.7%, or $1.7 million, to $6.5 million from $4.8 million. $1.3 million of this increase was due to Cognigen revenue.

· SG&A increased 69.2%, or $1.5 million, to $3.7 million from $2.2 million. $1.1 million of this increase is from Cognigen operating costs.

o These expenses included $410,000 of one-time charges related to the acquisition of Cognigen in the first quarter of this fiscal year.

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· R&D expenditures increased 9%, or $114,000, to $1.364 million from $1,250,000 in 6moFY14

o In 6moFY15, $731,000 was capitalized and $633,000 was expensed

o In 6moFY14, $733,000 was capitalized and $516,000 was expensed

o Increases were due to expanded staff, as well as increases in salaries and stock-based compensation for existing employees

· Income before taxes increased 2.6%, or $332,000, to $2.2 million from $2.136 million

· Diluted earnings per share was $0.088, a decrease of $0.004 per share from $0.092 in 6moFY14

John Kneisel, chief financial officer of Simulations Plus, said: “Solid revenue growth for the year drove higher profitability, offsetting $410,000 in non-recurring fees and expenses associated with the first quarter acquisition of Cognigen. EPS is up this quarter compared to last year, and Cognigen’s second quarter net income increased $84,000 compared to the first quarter to $124,000.”

Ted Grasela, newly appointed president of the combined Simulations Plus and Cognigen Corporation, added: “I have been impressed with the quality and commitment of the scientists at Simulations Plus and the loyalty and enthusiasm of our client base. We have already seen significant opportunities for collaboration and synergies in terms of our marketing and sales efforts. I am excited about the enhanced scientific capabilities we are offering as a result of the merger. I look forward to offering new and expanded consulting services to clients of the combined companies. In addition, software development activities have continued apace and exciting opportunities are emerging as our scientists gain cross-disciplinary experience during our collaborations.”

John DiBella, vice president for marketing and sales of Simulations Plus, said: “This was a productive quarter for us, as we experienced strong software sales to new clients, as well as an increase in consulting project contracts, in all territories. It is important to note that our top line was impacted by a brief delay in one significant renewal order of approximately $250,000, related to new review requirements on the part of a large pharmaceutical customer. If this renewal order had not been delayed, second quarter revenue for Simulations Plus would have increased more than 15%, with consolidated revenue up over 56%. It was received in the first week of March and will provide a nice bump to the 3QFY15 numbers. With new versions of our two highest revenue-producing programs, GastroPlus™ and ADMET Predictor™, that include features that will introduce our technology to new markets, coupled with continued progress in the cross-promotion of consulting services with Cognigen, we expect this positive momentum in revenue growth to continue.”

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Walt Woltosz, chairman and chief executive officer of Simulations Plus, added: “Fiscal year 2015 is off to a very good start with this record second quarter. Ted is taking over more and more of the management of the combined company, enabling me to increase my focus on products, services, and business development. I am particularly excited about two new products under development for use in the aerospace and healthcare industries. These products use our artificial neural network ensemble modeling engine, and we intend to pursue customers and funding to develop customized tools and applications.”

The Company has announced an investor conference call that will be webcast live at 1:15 p.m. PDT/4:15 p.m. EDT on Tuesday, April 14, 2015, which may be joined by registering at the following website: https://attendee.gotowebinar.com/register/6758144187651868418. Upon registering, you will receive a confirmation e-mail with instructions for joining the call. Please dial in five to ten minutes prior to the scheduled start time. For listen-only mode, you may dial (415) 655-0059, and enter access code 359-935-318.

About Simulations Plus, Inc.

Simulations Plus, Inc., is a premier developer of groundbreaking drug discovery and development simulation and modeling software which is licensed to and used in the conduct of drug research by major pharmaceutical, biotechnology, agrochemical, and food industry companies worldwide. Simulations Plus also recently acquired Cognigen Corporation of Buffalo, NY, adding to our offerings top-quality statistical modeling and simulation using clinical trial data, as well as more than doubling our staff from 30 to over 60, adding nearly 50% to revenues, and increasing earnings in the fiscal year that began September 1. The Company is headquartered in Southern California and trades on the NASDAQ Capital Market under the symbol “SLP.” Cognigen Corp is located in Buffalo, New York. For more information, visit our Web site 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. Words like “believe,” “expect” and “anticipate” mean that these are our best estimates as of this writing, but that there can be no assurances that expected or anticipated results or events will actually take place, so 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 new software and 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, our ability to identify and close acquisitions on terms favorable to the Company, and a sustainable market. Further information on our risk factors is contained in our quarterly and annual reports as filed with the U.S. Securities and Exchange Commission.

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SIMULATIONS PLUS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

As of

	(Unaudited)		(Audited)
	February 28,		August 31,
	2015		2014
ASSETS
Current assets
Cash and cash equivalents	$	6,103,042	$	8,614,929
Accounts receivable, net of allowance for doubtful accounts of $0		3,179,288		1,708,158
Revenues in excess of billings		648,933		158,914
Prepaid income taxes		326,234		748,359
Prepaid expenses and other current assets		268,787		188,160
Deferred income taxes		205,593		114,846
Total current assets	$	10,731,877	$	11,533,366
Long-term assets
Capitalized computer software development costs, net of accumulated amortization of $7,099,333 and $6,609,283	$	3,893,345	$	3,452,541
Property and equipment, net		460,313		95,242
Intellectual property, net of accumulated amortization of $497,500 and $193,750		5,577,500		5,881,250
Other intangible assets net of accumulated amortization of $73,750		1,576,250		–
Goodwill		4,789,248		–
Other assets		34,082		18,445
Total assets	$	27,062,615	$	20,980,844
LIABILITIES AND SHAREHOLDERS' EQUITY
Current liabilities
Accounts payable	$	120,657	$	130,547
Accrued payroll and other expenses		388,057		340,709
Accrued bonuses to officer		48,000		120,000
Other current liabilities		19,859		19,859
Current portion - Contracts payable		750,000		750,000
Billings in excess of revenues		96,803		–
Deferred revenue		44,948		30,370
Total current liabilities	$	1,468,324	$	1,391,485
Long-term liabilities
Deferred income taxes	$	3,289,089	$	2,375,874
Payments due under Contracts payable		3,604,404		1,750,000
Other long-term liabilities		18,204		28,134
Total liabilities	$	8,380,021	$	5,545,493
Commitments and contingencies
Shareholders' equity
Preferred stock, $0.001 par value 10,000,000 shares authorized no shares issued and outstanding	$	–	$	–
Common stock, $0.001 par value 50,000,000 shares authorized 16,852,117 and 16,349,955 shares issued and outstanding	$	5,323	$	4,821
Additional paid-in capital		9,517,692		6,085,427
Retained earnings		9,159,579		9,345,103
Total shareholders' equity	$	18,682,594	$	15,435,351
Total liabilities and shareholders' equity	$	27,062,615	$	20,980,844

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SIMULATIONS PLUS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

For the three and six months ended February 28,

(Unaudited)

	Three months ended						Six months ended
	2015			2014			2015			2014
Net sales	$	4,574,191		$	3,081,492		$	8,660,382		$	5,722,492
Cost of sales		1,125,660			492,199			2,123,394			940,619
Gross profit		3,448,531			2,589,293			6,536,988			4,781,873
Operating expenses
Selling, general, and administrative		1,612,742			1,103,547			3,679,182			2,174,638
Research and development		360,708			354,007			633,348			516,123
Total operating expenses		1,973,450			1,457,554			4,312,530			2,690,761
Income from operations		1,475,081			1,131,739			2,224,458			2,091,112
Other income (expense)
Interest income		4,412			7,957			9,004			16,983
Gain (loss) on currency exchange		(34,684	)		4,428			(42,475	)		28,137
Total other income (expense)		(30,272	)		12,385			(33,471	)		45,120
Income from operations before provision for income taxes		1,444,809			1,144,124			2,190,987			2,136,232
Provision for income taxes		(474,576	)		(334,260	)		(691,851	)		(641,213	)
Net Income	$	970,233		$	809,864		$	1,499,136		$	1,495,019
Earnings per share
Basic	$	0.06		$	0.05		$	0.09		$	0.09
Diluted	$	0.06		$	0.05		$	0.09		$	0.09
Weighted-average common shares outstanding
Basic		16,848,983			16,107,327			16,839,599			16,078,173
Diluted		17,105,412			16,356,544			17,096,357			16,319,902

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Contacts

Simulations Plus Investor Relations
Ms. Renee Bouche, 661-723-7723
renee@simulations-plus.com
or
Hayden IR
Mr. Cameron Donahue, 651-653-1854
cameron@haydenir.com

Source: Simulations Plus, Inc.

View this news release online at:
http://www.businesswire.com/news/home/20150414006576/en

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