04:56 PM EDT, 07/02/2024 (MT Newswires) -- Simulations Plus ( SLP ) reported fiscal Q3 adjusted earnings late Tuesday of $0.19 per diluted share, down from $0.21 a year ago.

Three analysts polled by Capital IQ expected $0.16.

Revenue in the quarter ended May 31 rose to $18.5 million from $16.2 million a year earlier.

Four analysts surveyed by Capital IQ expected $17.9 million.

The company said it expects fiscal 2024 adjusted EPS of $0.54 to $0.56 on revenue of $69 million to $72 million. It previously expected fiscal 2024 EPS of $0.66 to $0.68 on revenue of $66 million to $69 million.

Analysts polled by Capital IQ were looking for EPS of $0.55 on revenue of $70.9 million.

Simulations Plus ( SLP ) said its board has determined to discontinue its quarterly dividend and reallocate the funds to its capital allocation strategy for investing in growth initiatives.

The company said its final dividend of $0.06 per share will be paid Aug. 5 to shareholders of record July 29.

Shares of the company fell more than 8% in after-hours activity.

Price: 42.70, Change: -4.16, Percent Change: -8.88