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Accelrys Reports 2 Percent Decline in Fiscal Q1 Revenues

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) - Accelrys today reported a 2 percent dip in revenues for its first fiscal quarter, as a profit in the year-ago period swung to a loss.

For the three months ended June 30, Accelrys posted revenue of $19.8 million compared to $20.1 million for the same quarter of the previous year.

The company reported a net loss of $1.6 million, or $0.06 per diluted share, for its first fiscal quarter compared to net income of $700,000, or $0.03 per diluted share, for the prior-year period.

Accelrys said that its net loss for the current quarter includes "business consolidation costs" of $1.7 million, but did not elaborate.

The company reported a 4 percent decline in first-quarter product-development costs, to $3.7 million from $3.9 million in the year-ago period.

Sales and marketing costs, meantime, inched up 3 percent to $8.4 million from $8.1 million, while general and administrative costs fell 9 percent to $3.3 million from $3.7 million.

As of June 30, the company held cash, cash equivalents, marketable securities, and restricted cash of $92.9 million.

The company said that its integration with Symyx Technologies, which it acquired on July 1, is proceeding as scheduled.

Accelrys said that it is changing its fiscal year end from March 31 to Dec. 31, effective for the period ended Dec. 31, 2010.

For the remaining six months of the year, Accelrys said it expects to report non-GAAP revenue — which includes revenue due to purchase accounting treatment of deferred revenue related to the Symyx acquisition — of between $80 million and $82 million.

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