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Accelrys Narrows Net Loss in Fiscal Q1 Though Revenues Inch Down

NEW YORK (GenomeWeb News) – Accelrys reported its fiscal year 2007 first quarter results today and said its net loss shrank 83 percent.
 
Receipts for the three months ended June 30 inched down to $20.1 million, from $20.4 million year over year. The company said the decline is the result of fluctuations in foreign currency exchange rates.
 
Product development costs also declined 12 percent, to $5.1 million from $5.8 million from the comparable quarter a year ago.
 
Accelrys said net loss narrowed to $329,000 for the first quarter compared to $1.9 million last year.
 
Accelrys had $63 million in cash and cash equivalents as of June 30.
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