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Exhibit 99.1
ACCELRYS ANNOUNCES FOURTH QUARTER AND FULL YEAR FISCAL 2007 FINANCIAL RESULTS
Achieves $6 million improvement in year over year results of operations
San Diego, May 15, 2007 — Accelrys, Inc. (NASDAQ: ACCL) today reported financial results for the quarter ended March 31, 2007.
“We are pleased with our financial performance in fiscal 2007,” said Mark J. Emkjer, Accelrys President and Chief Executive Officer. “We showed an approximately $6 million improvement in our bottom line and continued to generate positive cash flow, despite challenging market conditions and budget constraints experienced by our large pharmaceutical customers. Operationally, we delivered major new releases on time and with high quality across all of our product lines. These new releases add exciting technologies, substantially completing the modernization of our product portfolio.”
Revenue for the quarter ended March 31, 2007 increased 2% to $19.9 million from $19.4 million for the same quarter of the previous year. For the year ended March 31, 2007, revenue decreased 1% to $81.0 million from $82.0 million for the previous year. Revenue in the current quarter and year was favorably impacted by continued growth in the Company’s scientific operating platform product line, offset by reduced sales of certain legacy products that were deemphasized in connection with the restructuring and product line adjustments that have occurred over the past two fiscal years.
Non-GAAP operating income was $0.6 million for the current quarter, compared to a non-GAAP operating loss of $1.7 million for the same quarter of the previous year. For the full year, non-GAAP operating income was $4.8 million, compared to a non-GAAP operating loss of $1.9 million for the previous year. On a GAAP basis, operating loss for the current quarter was $1.6 million, a 74% reduction from a $6.4 million operating loss for the same quarter of the previous year. For the full year, GAAP operating loss was $2.7 million, a 69% reduction from an $8.7 million operating loss for the previous year. Operating income on both a GAAP and non-GAAP basis was favorably impacted in fiscal year 2007 by cost control measures implemented in previous years and on a GAAP basis by lower restructuring charges and restatement costs.
Non-GAAP net income was $1.2 million, or $0.05 per share, for the current quarter, compared to a non-GAAP net loss of $1.8 million, or $0.07 per share, for the same quarter of the previous year. For the full year, non-GAAP net income was $6.0 million, or $0.23 per share, compared to a non-GAAP net loss of $0.9 million, or $0.03 per share, for the previous year. On a GAAP basis, the Company reported a net loss of $1.1 million, or $0.04 per share, for the current quarter, an 84% reduction from a net loss of $6.4 million, or $0.25 per share, for the same quarter of the previous year. For the full year, GAAP net loss was $1.5 million, or $0.06 per share, an 80% reduction from a net loss of $7.7 million, or $0.30 per share, for the previous year. Net income on both a GAAP and non-GAAP basis was favorably impacted in fiscal year 2007 by cost control measures implemented in previous years and on a GAAP basis by lower restructuring charges and restatement costs.
At March 31, 2007, the Company had total cash, cash equivalents, restricted cash and marketable securities of $70.8 million, an increase of 7% from March 31, 2006.
The following information was filed by Accelrys, Inc. (ACCL) on Tuesday, May 15, 2007 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-K Annual 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-K Annual Report
Accession Number: 0001104659-07-045017
Submitted to the SEC: Mon Jun 04 2007 4:53:30 PM EST
Accepted by the SEC: Mon Jun 04 2007
Period: Saturday, March 31, 2007
Industry: Prepackaged Software
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