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Accelrys Posts 12 Percent Revenue Gain for Q3

NEW YORK (GenomeWeb News) – Accelrys reported after the close of the market yesterday a 12 percent increase year over year for its third quarter.

The San Diego-based life sciences informatics firm reported GAAP revenues of $40.5 million for the three months ended Sept. 30, compared to $36.3 million for the third quarter of 2011.

Its non-GAAP revenue, which includes a deferred revenue fair value adjustment related to its merger with Symyx and acquisitions of Contur and VelQuest, was $43.4 million versus 38 million, a 14 percent increase.

Accelrys posted net income of $601,000, or $.01 per share, compared to a net loss of $2.2 million, or $.04 per share, for Q3 2011. On a non-GAAP basis, its EPS was $.11 versus $.10 for the prior year. The third quarter of 2011 had included $2.3 million in business consolidation, transaction, and restructuring costs, compared to $658,000 of such costs for the third quarter of 2012.

Its product development costs increased 38 percent to $490,000 from $356,000, and its SG&A expenses rose 18 percent to $1.3 million from $1.1 million.

Accelrys finished the quarter with $160.1 million in cash, cash equivalents, and marketable securities.

The firm expects to report non-GAAP revenue of between $169 million and $171 million, and non-GAAP earnings per share of between $.32 and $.33 for the full year ending Dec. 31.

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