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Accelrys Sees Net Income, Revenues Slide in Fiscal Q2

NEW YORK (GenomeWeb News) – Accelrys today posted a 7-percent decline in revenues for its second fiscal quarter, alongside a 19-percent decrease in net income.
 
Revenue for the quarter ended Sept. 30 declined to $20.2 million from $21.7 million in the second quarter of 2005. The company attributed the slide to “an expected decrease in revenues from certain products that were de-emphasized in connection with the company's restructuring and product line adjustments that have occurred over the past two years.”
 
Second-quarter net income fell to $900,000 from $1.2 million in the prior-year period. Excluding stock-based compensation expense, non-GAAP net income increased by 65 percent to $2.3 million from $1.4 million in the second quarter of 2005.
 
Product development costs declined 12 percent to $4.9 million from $5.6 million in the quarter ended Sept. 30, 2005.
 
At Sept. 30, Accelrys had total cash, cash equivalents, restricted cash, and marketable securities of $61.2 million.

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