NEW YORK, Nov 4 (GenomeWeb News) - Accelrys yesterday reported a 30-percent increase in revenues for its second fiscal quarter, accompanied by a 54-percent reduction in net losses.
Revenue for the quarter ended Sept. 30 rose to $18.6 million from $14.3 million in the same quarter of 2004. The company attributed the increase in revenue to the impact of deferred revenue from its transition to subscription accounting last year.
Accelrys reported a net loss of $2.3 million, or $.09 per share, for the second quarter, compared to a net loss of $5.1 million, or $.21 per share, reported in the second quarter of 2004.
Product development costs rose slightly to $4.7 million for the second quarter, compared to $4.4 million in the year-ago period.
The company had $52.8 million in cash, restricted cash, cash equivalents, and marketable securities as of Sept. 30.