Shares in Simulations Plus Inc. soared up to 15 percent Tuesday after the firm reported record profit for its third quarter.

The Lancaster provider of simulation and modeling software reported third quarter net income of $782,292 (10 cents per share), a 112 percent jump from $386,138 (5 cents per share) from the same period a year earlier. Sales were up 53 percent to $2.6 million.

The results mean that the company’s cumulative revenues after three quarters have already exceeded its revenues from the last fiscal year by $1 million.

“When we reported the record second quarter, I wondered if we’d be able to beat it in the third quarter, knowing that we would not have the benefit of the two large orders that came in during the second quarter,” said Chairman and Chief Executive Walt Woltosz in a statement.

Woltosz also said that the company is pursuing an acquisition but did not name specific candidates. He said that the company will provide updated revenue guidance on Thursdsay.

Shares in Simulations Plus gained $1.45, or 15 percent, to $11.45 in afternoon trading on the American Stock Exchange. Shares in Simulations have gained 116 percent so far this year.