NEW YORK (GenomeWeb News) – Accelrys yesterday reported a 1 percent decline in revenues for its first fiscal quarter as its net income improved over the year-ago period.
Accelrys said that revenues for the three months ended June 30 decreased to $20.1 million from $20.3 million in the prior-year period. The company attributed the decrease to a drop in maintenance revenue of around $400,000, which was partially offset by an increase in software revenue of around $300,000.
Net income increased to $744,000 from $86,000 in the comparable period of 2008.
Product development expenses decreased 9 percent to $3.9 million from $4.3 million in the year-ago period, while sales and marketing expenses remained flat at $8.1 million.
General and administrative expenses increased 6 percent to $3.7 million from $3.5 million for the three months ended June 30, 2008.
The company had cash, cash equivalents, marketable securities, and restricted cash of $83.7 million as of June 30.