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Accelrys Q1 Revenues Flat as Loss Swings to Profit

NEW YORK (GenomeWeb News) - Accelrys yesterday reported a half-a-percent decrease in fiscal first-quarter 2008 revenues as R&D spending was trimmed 15 percent and the company turned its quarterly loss to a profit.
 
Total receipts for the three months ended June 30, 2007, dipped to $20.1 million from $20.2 million year over year.
 
Accelrys said its revenue for the quarter was “favorably impacted” by continued growth in its scientific operating platform product line, but company CEO Mark Emkjer added that that growth in part “was offset by some continued erosion in our legacy products.”
 
Emkjer said the company expects the release of its Discovery Studio 2.0 and its Materials Studio 4.2 software, scheduled for this quarter, to “begin to stabilize our legacy revenue stream in the ensuing quarters ahead.”
 
R&D spending decreased to $4.3 million from $5.1 million year over year.
 
Net income was $1.4 million compared with a loss of $329,000 in the year-ago period.
 
Accelrys said cost controls it implemented over the past two years helped it reduce its loss for the quarter.
 
Accelrys said it had around $68.7 million in cash, cash equivalents and marketable securities as of June 30.

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