Skip to main content
Premium Trial:

Request an Annual Quote

Accelrys' Q1 Revenues Rise 7 Percent but Fall Short of Estimates

NEW YORK (GenomeWeb News) – Accelrys said after the close of the market on Tuesday that its first-quarter revenues were up 7 percent year over year.

Total revenues for the three months ended March 31 were $42.1 million, compared to $39.4 million for the first quarter a year ago, short of the average Wall Street estimate of $45.4 million.

The firm's licensing and subscription revenues increased to $22.3 million from $21.7 million, while revenues from the maintenance of perpetual licenses increased to $10.1 million from $9.5 million. Content revenues were down to $2.6 million from $3.5 million, and professional services and other revenues spiked to $7.2 million from $4.7 million.

The San Diego-based firm recorded a net loss of $5.7 million, or $.10 per share, in the quarter, compared to a net loss of $2.3 million, or $.04 per share, in Q1 2012. On a non-GAAP basis, Accelrys had EPS of $.06, short of the average Wall Street estimate of $.08.

"The first quarter results were reasonably in line with our internal targets for revenue and earnings, with the exception of the [currency] headwinds we experienced in Japan," Accelrys President and CEO Max Carnecchia said in a statement. "However, the first quarter was challenging from an orders perspective causing us to make downward revisions to our calendar 2013 outlook."

Accelrys' product development costs rose 8 percent to $10.4 million from $9.6 million a year ago, and its SG&A spending was up 6 percent to $19.5 million from $18.4 million.

Accelrys finished the quarter with $130.3 million in cash, cash equivalents, and marketable securities.

For full-year 2013, the firm is guiding to adjusted revenues of between $176 million and $181 million and adjusted EPS of between $.32 and $.34.

In Wednesday morning trade on the Nasdaq, shares of Accelrys were down 14 percent to $8.46.

The Scan

Just Breathing

A new analysis suggests that most Mycobacterium tuberculosis is spread by aerosols from breathing, rather than by coughing, the New York Times reports.

Just Like This One

NPR reports that the World Health Organization has hired a South African biotech company to recreate mRNA vaccine for SARS-CoV-2 that is similar to the one developed by Moderna.

Slow Start

The Wall Street Journal reports that Biogen's Alzheimer's disease treatment had revenues for July through September that totaled $300,000.

Genome Research Papers on Cancer Chromatin, Splicing in the Thymus, Circular RNAs in Cancer

In Genome Research this week: analysis of bivalent chromatin sites, RBFOX splicing factors' role in thymic epithelial cells, and more.