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Accelrys Reports 4 Percent Uptick in Fiscal Q4 Revenues

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) — Accelrys today reported a 4 percent increase in revenues for its fourth fiscal quarter and a 2 percent increase for its full fiscal year.

The company said that its planned merger with scientific software firm Symyx, announced last month, has cleared the waiting period under Hart-Scott-Rodino antitrust regulations and is on track to close in early July.

Revenues for the three months ended March 31 rose to $20.8 million from $20 million for the comparable period of the previous year.

The company's quarterly net loss widened slightly to $2.4 million, or $0.09 per share, compared to $2.2 million, or $0.08 per share, for the prior-year quarter.

Product development costs increased 18 percent to $4.2 million from $3.5 million in the prior-year period, while SG&A costs rose 7 percent to $15.7 million from $14.6 million in the comparable period of 2009.

For the full year, Accelrys reported revenues of $83 million, a slight increase from $81 million for the previous year.

Full-year net income rose to $1.2 million, or $0.04 per share, compared to $100,000, or breakeven on a per-share basis, for the previous year.

As of March 31, Accelrys held cash and cash equivalents of $77.1 million. Including marketable securities and restricted cash, the company's cash position was $93.1 million.

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