Simulations Plus Posts Q3 EPS of 18c Amid Pending $375M Buyout
SLP sits 66% above its 52-week low of $11.09.
Summary
Simulations Plus reported Q3 earnings per share of 18 cents, with adjusted EPS of 30 cents. Revenue was $21.89 million, beating estimates on the back of services growth. The result lands while the company is under a definitive agreement to be acquired by Altaris for $18.50 per share in cash, a deal valued at approximately $375 million. With the buyout price fixed, quarterly earnings are unlikely to move the stock unless they threaten the deal's closing. The preliminary proxy was filed today, signaling progress toward the shareholder vote.
At the time of this announcement, SLP was trading at $18.36 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $370.6M. The 52-week trading range was $11.09 to $21.01. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.