The financial crisis does not appear to have harmed revenues generated by Simulations’ pharmaceutical software, which grew by 5.2 per cent to over $6m.

Simulations’ believes that its software can help pharmaceutical companies increase productivity, which will prove especially popular in the current financial climate.

Walt Woltosz, CEO of Simulations, said: “Our pharmaceutical software and services business continues to be recognised as best-in-class for our major products, and we believe the pharmaceutical industry is now showing much more inclination to use software for research as opposed to software for storing and accessing data.”

Although Simulations’ appears to have had a reasonably successful year its stock price has taken a battering, falling from $4.73 a year ago to $0.95 now.

The company’s share price may improve if it can successfully expand through acquisition, which it attempted to do in 2008 through the pursuit of several targets.

Simulations was unsuccessful in its attempts but intends to rectify this situation next year, with Woltosz saying: “We expect that our increased cash reserves will continue to grow and that we will identify and close one or more acquisitions in the coming fiscal year."

An acquisition could add to the company’s portfolio, which includes software for oral absorption and pharmacokinetic simulation, estimation of ADMET properties and chemical data visualisation and analysis.