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Accelrys Q2 Revenues Down 12 Percent, Bangalore Unit Operational

Pharmacopeia last week reported that second-quarter revenues for its Accelrys software subsidiary dropped 12 percent compared to the year-ago period, from $21.4 million to $19 million.

Total revenue for Pharmacopeia’s 2003 second quarter was $26.1 million, including the company’s drug discovery services, a decrease of $3.2 million from the $29.3 million reported in the second quarter of 2002.

Pharmacopeia reduced its quarterly operating expenses from $24.2 million to $19.9 million year-over-year, despite the costs incurred in establishing a software development group in Bangalore, India, during the quarter. In a conference call to discuss the company’s earnings, Mark Emkjer, president of Accelrys, said the unit has hired 14 people so far, and expects to add an average of eight employees per month over the coming year. In spite of this hiring activity, Emkjer said the company has “no plans for any changes in our development offices in Cambridge [UK] or San Diego.”

Pharmacopeia expects its revenues for the full year to be flat with — or possibly below — 2002 levels. “Our revenue outlook for the next six months is heavily dependent on earning further milestones in drug discovery and on the fourth-quarter performance at Accelrys, during which we have historically recorded up to 35 percent of our annual software revenue,” said John Hanlon, Pharmacopeia’s CFO.

Pharmacopeia posted R&D costs of $5.5 million for the second quarter of 2002, compared to $7.0 million for the year-ago period. Net losses narrowed to $3.8 million from $5.1 million.

The company had $142 million in cash, cash equivalents, and marketable securities as of June 30, 2002, compared to $141 million at the close of 2002.

 

Linux Supercomputer Battle Brews in Japan

Fujitsu and IBM are going head-to-head in Japan with parallel efforts to build the world's most powerful Linux-based supercomputers with applications in life science research.

On July 30, IBM announced plans to build an 11.2-teraflop eServer system for Japan’s National Institute of Advanced Industrial Science and Technology. The system, with a total of 2,626 processors, will include 1,058 eServer 325 systems, with 2,116 AMD Opteron processors, and 520 Intel processors.

A day later, IDG News Service reported that Fujitsu is planning a 12.4-teraflop system for Japan's Institute of Physical and Chemical Research (Riken) that will be used “mainly in biotechnology research.” Delivery for the system, which will use 2,048 still-unidentified processors, is scheduled for March 2004, according to IDG.

The current most powerful Linux cluster, a Hewlett-Packard system at Pacific Northwest National Laboratory, is ranked No. 3 on the Top500 supercomputer list with 11.1 teraflops of peak performance.

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