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Accelrys Q2 Revenues Rise 31 Percent, Net Loss Drops 40 Percent

NEW YORK, Aug. 5 (GenomeWeb News) - Accelrys yesterday reported increased revenues and a narrowed net loss for the second quarter of 2005.


Revenues for the quarter were $18.6 million, up 31 percent from $14.2 million during the same period last year. This quarter's revenues included deferred revenue from the company's switch to subscription accounting.


Product development costs increased to $4.9 million, up from $4.1 million during the year-ago quarter.


Accelrys' net loss fell 40 percent to $3.7 million, or $.14 per share, from $6.2 million, or $.25 per share, for the second quarter of last year. Last year's loss included $1.1 million from discontinued operations.


As of June 30, Acclerys had $56.3 million in cash, restricted cash, cash equivalents, and marketable securities.

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