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Accelrys Posts 14 Percent Q2 Revenue Growth

NEW YORK (GenomeWeb News) – Scientific software maker Accelrys reported after the close of the market Thursday a 14 percent jump in its second-quarter revenues year over year.

The San Diego-based firm brought in GAAP revenues of $38.4 million for the quarter ended June 30, compared to $33.7 million for the same period last year. On a non-GAAP basis, which adds in a deferred revenue fair value adjustment related to its merger with Symyx and acquisitions of Contur and VelQuest, its revenue was $41.6 million, up 13 percent from $36.7 million.

The firm posted a GAAP net loss of $520,000, or $.01 per share, compared to a loss of $4.5 million, or $.08 per share, for Q2 2011. On a non-GAAP basis, it had a profit of $4.1 million, or $.07 per share, compared to net earnings of $4.4 million, or $.08 per share, in the previous year.

The company's product development spending increased to $9.7 million from $8.4 million, and its SG&A expenses climbed to $18.2 million from $16.3 million.

Accelrys finished the quarter with $167.1 million in cash, cash equivalents, and marketable securities.

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