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Accelrys' Q1 Revenues Inch up 1 Percent

NEW YORK (GenomeWeb News) – Accelrys reported after the close of the market on Thursday that its fiscal 2009 first-quarter revenues ticked up 1 percent, while its profit dipped on restructuring charges.
 
The San Diego-based bioinformatics firm generated revenues of $20.3 million for the three-month period ended June 30, compared to $20.1 million in the first quarter of 2008. The firm said in a statement that its revenue gains were “partially offset by reduced revenue from deemphasized products.”
 
Accelrys’ net income dropped to $86,000, or $.00 per share, compared to a profit of $1.4 million, or $.05 per share, in the first quarter of 2008. The firm’s earnings were hit by $842,000 in restructuring charges compared with $25,000 for similar charges a year earlier.
 
Acclery’s R&D expenses were virtually flat year over year at $4.3 million, while its SG&A costs increased slightly to $11.6 million from $11.4 million.
 
The company finished the quarter with $74.9 million in cash and marketable securities.

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