NEW YORK (GenomeWeb News) – Accelrys today reported a 5 percent increase in revenues for its fiscal third quarter as a loss in the prior-year quarter swung to a profit.
For the three months ended Dec. 31, 2008, revenues increased to $20.6 million from $19.6 million for the prior-year period, Accelrys said.
The company posted net income of $1 million, or $.04 per share, compared to a net loss of $1.2 million, or $.05 per share, for the same quarter of the previous year.
Product development costs fell 24 percent to $3.4 million from $4.5 million in the comparable period of 2007; sales and marketing costs fell 8 percent to $8.8 million from $9.6 million; and general and administrative spending dipped 6 percent to $3.2 million from $3.4 million.
The company had cash and marketable securities of $72.5 million as of Dec. 31, 2008.
Todd Johnson, the company's interim president and CEO, acknowledged in a statement that "the global macroeconomic climate may dampen our growth prospects in the near future." However, he noted that the company believes that its "strong balance sheet and market-leading scientific operating platform products position us for long-term success."
Johnson took the reins at Accelrys this month, after the company's previous CEO, Mark Emkjer, resigned.