NEW YORK, Aug. 5 (GenomeWeb News) - Shares in Accelrys were up 6.25 percent, or $.33, at $5.61 in mid-afternoon trading after the company reported a 31-percent increase in second-quarter revenue and a narrowed net loss.
As GenomeWeb News reported, total revenues for the period ended June 30 increased to $18.6 million 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.