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Accelrys Cuts Loss 84 Percent on Slight Quarterly Revenue Gain

NEW YORK (GenomeWeb News) - Accelrys yesterday reported a 2 percent increase in fiscal fourth-quarter revenues as R&D spending fell 22 percent and the company cut its quarterly loss by 84 percent.
 
Total receipts for the three months ended March 31, 2007, increased to $19.9 million from $19.4 million year over year.
 
Accelrys said growth in its SciTegic Pipeline Pilot product line was offset by reduced sales of legacy products that were “deemphasized" due to product line restructuring.
 
R&D spending decreased to $4.2 million from $5.3 million year over year.
 
Net loss dropped to $1.1 million from $6.4 million 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 $70.8 million in cash, cash equivalents and marketable securities as of March 31.

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