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Symyx Revenue, Income, and R&D Spending Dip in Q2

NEW YORK, July 26 - Symyx Technologies today reported a 9-percent dip in total revenue atop decreased net income and slightly trimmed R&D spending.


Total revenue for the period ended June 30 was $14 million compared with $15.4 million the company reported one year ago. Symyx blamed the reduction on a decrease in collaboration revenue to $9.4 million in the current second quarter from $10.6 million for the same period last year. The company said this kind of revenue represented some 67 percent of total revenue for the quarter.


Meantime, second-quarter revenue from products, royalties, and licenses was a combined $4.6 million for the quarter compared to $4.7 million for the same period in 2001, Symyx said.


The company spent $9.6 million in R&D in the current quarter, down from $10 million year over year.


Still, net income for the quarter fell to $684,000, or $.02 per share, compared to $1.7 million, or $.05 per share, reported in the same quarter last year.


Symyx said it had roughly $117.8 million in cash, cash equivalents, and short-term investments as of June 30.


Looking ahead, the company said it expects to post total combined annual revenues of between $65 million and $70 million, which is below the $80 million to $85 million Symyx originally expected to book by Dec. 31. The guidance is still about 10 percent above what the company brought in 2001, Symyx said.

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