Accelrys, Inc. (ACCL) 10-Q Quarterly Report October 2013

SAN DIEGO, October 30, 2013 - Accelrys, Inc. (NASDAQ: ACCL) today reported financial results for the fiscal quarter ended September 30, 2013. Non-GAAP revenue for the quarter ended September 30, 2013 increased $0.9 million to $44.3 million from $43.4 million for the same quarter of the previous year, or an increase of 2.1 percent. Non-GAAP revenue for the nine months ended September 30, 2013 increased $3.3 million to $130.1 million from $126.8 million for the same period of the previous year, or an increase of 2.6 percent.

Non-GAAP net income was $7.9 million, or $0.14 per diluted share, for the quarter ended September 30, 2013, compared to non-GAAP net income of $6.3 million, or $0.11 per diluted share, for the same quarter of the previous year. Non-GAAP net income was $15.2 million for the nine months ended September 30, 2013, compared to non-GAAP net income of $15.1 million, for the same period of the previous year, or $0.27 per diluted share for both periods.

GAAP revenue for the quarter ended September 30, 2013 increased $0.4 million to $40.9 million from $40.5 million for the same quarter of the previous year, or an increase of 1 percent. GAAP revenue for the nine months ended September 30, 2013 increased $3.7 million to $122.1 million from $118.3 million for the same period of the previous year, or an increase of 3.1 percent.

GAAP net loss was $(8.3) million, or $(0.15) per diluted share, for the quarter ended September 30, 2013 compared to GAAP net income of $0.6 million, or $0.01 per diluted share, for the same quarter of the previous year. GAAP net income was $5.8 million, or $0.10 per diluted share, for the nine months ended September 30, 2013 compared to GAAP net loss of $(2.2) million, or $(0.04) per diluted share, for the same period of the previous year. GAAP net income for the nine months ended September 30, 2013 included a one-time gain of $25.9 million, or $0.45 per diluted share, recognized upon the payoff of the promissory note receivable from Intermolecular, Inc. (“Intermolecular”) in May 2013.

“We delivered solid third-quarter financial results and continued to refine the go-to-market approach we implemented at the beginning of this year. This approach along with the previously announced corporate-wide restructuring will allow us to deliver stronger results in the future,” said Accelrys President and CEO Max Carnecchia. “The launch of groundbreaking new products and the addition of ChemSW further expand our portfolio across the entire product lifecycle. We are confident that the market opportunity remains strong and that we are uniquely positioned to create a world-class software company in the scientific innovation lifecycle management category.”

Recent Business Highlights:


•	Acquisition of ChemSW, a leader in environmental health and safety compliance solutions, furthering Accelrys' scientific innovation lifecycle management and sustainability strategies by providing solutions for managing and tracking the source, use and disposal of chemicals along the entire lab-to-plant value chain.


•	Launch of Accelrys Insight and Accelrys Insight for Excel, completing the roll-out of Accelrys' next-generation cheminformatics suite and providing an interactive, collaborative environment for rapid and effective decision-making in drug discovery.


•	Availability of Accelrys’ integrated Predictive Sciences solutions, enabling drug discovery teams to investigate and evaluate hypotheses about the chemical or biological behavior of molecules of therapeutic interest in silico prior to costly experimentation.

•

Launch of Discovery Studio 4.0, the latest release of Accelrys Discovery Studio and a key component of Accelrys’ Predictive Sciences solutions. The software contains the only available commercial version of the widely used CHARMM (Chemistry at Harvard Macromolecular Mechanics) program for molecular dynamics simulation and analysis. The developers of CHARMM were awarded the Nobel Prize in Chemistry this month and Accelrys retains exclusive rights to its commercial use.


•	Hosted the Accelrys Life Sciences Symposium in London, a gathering of leading global life sciences customers, including representatives from BT, GlaxoSmithKline, Medimmune and Merz.

The following information was filed by Accelrys, Inc. (ACCL) on Wednesday, October 30, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Ticker: ACCL
CIK: 1002388
Form Type: 10-Q Quarterly Report
Accession Number: 0001002388-13-000040
Submitted to the SEC: Thu Oct 31 2013 5:03:35 PM EST
Accepted by the SEC: Thu Oct 31 2013
Period: Monday, September 30, 2013
Industry: Prepackaged Software