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Accelrys Posts 70 Percent Increase in Q2 Revenues

NEW YORK (GenomeWeb News) – Accelrys reported after the close of the market on Monday a 70 percent jump year over year in second-quarter revenues.

For the three months ended June 30, the San Diego-based firm posted $33.7 million in revenues, up from $19.8 million a year ago. The increase was led by license and subscription revenues, which climbed to $18.6 million, a 21 percent increase, while maintenance on perpetual licenses jumped 258 percent to $8.6 million from $2.4 million.

Content revenues were $4.3 million, compared to none a year ago, and professional services and other revenues increased 15 percent to $2.3 million from $2 million.

The company posted a net loss of $4.5 million, or $.08 per share, up from a loss of $1.6 million, or $.06 per share a year ago. On an adjusted basis, loss per share was also $.08.

GAAP results for the quarter were impacted by the "the business combination accounting" related to the acquisition of Symyx Technologies in July 2010 and the acquisition of Contur Industry Holding and Contur Software in May 2011, Accelrys said, as well as other non-recurring acquisition-related and restructuring costs.

It added that GAAP revenues, operating loss, and net loss for the second quarter were impacted by $3 million in fair value adjustments to deferred revenue. Its GAAP net loss for the quarter was also impacted by $600,000 in additional purchased intangible asset amortization and $200,000 in fair value adjustments to deferred royalty income.

Accelrys' R&D costs during the quarter were down 1 percent to $234,000 from $237,000, while SGA costs rose 18 percent to $1 million from $847,000.

As of June 30, Accelrys had $150.8 million in cash, cash equivalents, and marketable securities.

The firm gave non-GAAP revenue guidance of between $152 million and $155 million for full-year 2011, translating to non-GAAP EPS of between $.32 and $.34.

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