Los Angeles Business Journal

Ceres Reports Loss; Simulations Plus Sees Profit

By Business Journal Staff Thursday, January 9, 2014

Energy crop developer Ceres Inc. reported deeper losses than expected Thursday even as it beat revenue estimates.

The Thousand Oaks company reported a net loss of $8.2 million (-33 cents a share) for the quarter ended Nov. 30, compared with a loss of $6.9 million (-28 cents) in the same period a year earlier. Revenue fell 61 percent to $793,000.

Analysts on average expected a net loss of 26 cents a share on revenue of $500,000, according to Thomson Financial Network.

Shares closed up 6 cents, or 3.6 percent, to $1.73 on the Nasdaq.

Simulations Plus Reports Profit

Simulations Plus Inc. on Thursday announced fiscal first quarter results that beat analysts' revenue estimates.

The Lancaster company, which makes clinical trial software, reported net income of $685,000 (4 cents a share) in the quarter ended Nov.30, compared to $587,000 (4 cents) for the same quarter a year ago. Revenue climbed 15 percent to $2.6 million.

Analysts on average expected earnings of 4 cents a share on revenue of $2.4 million.

Chief Executive Walt Woltosz said in a statement that the company performed well as it works to release the next generation of its software in the second quarter.

Shares closed up 2 cents, or fraction of a percent, to $4.92 on the Nasdaq.