Please wait while we load the requested 10-K report or click the link below:
ACCELRYS ANNOUNCES FOURTH QUARTER AND FULL YEAR FISCAL 2008
Company Reports Continued Growth in Scientific Operating Platform Solutions
Reports GAAP and Non-GAAP Profitability for 2008
San Diego, May 14, 2008 Accelrys, Inc. (NASDAQ: ACCL) today reported financial results for the quarter and full year ended March 31, 2008.
Fiscal year 2008 was successful from both a financial and operational standpoint, said Mark Emkjer, President and CEO of Accelrys. On the financial side, we achieved profitability on both a GAAP and non-GAAP basis and increased our cash balance by $5.7 million. We also made great strides from an operating standpoint by completing the modernization and integration of both our life and materials science products and greatly extending the enterprise capabilities of our scientific operating platform. The breadth and depth of our scientific portfolio, combined with the enterprise capabilities of our scientific operating platform have provided us increased momentum within our markets. For the second consecutive quarter, our orders have increased over orders received during the same quarter of our 2007 fiscal year. Looking to our 2009 fiscal year, we are excited about the opportunities that exist for the scientific operating platform with our current customers as well as with new customers in new markets. As such, our focus will remain on investing in our growth products to position us for further overall growth.
Fourth Quarter 2008 Financial Results:
Revenue for the quarter ended March 31, 2008 increased 3% to $20.4 million from $19.9 million for the same quarter of the previous year. Revenue in the current quarter was favorably impacted by continued growth in orders for solutions and services related to the Companys scientific operating platform product line, as well as revenue from a previously deferred bundled software and services order, partially offset by reduced revenue from deemphasized products.
Non-GAAP operating income was $0.5 million for the current quarter compared to non-GAAP operating income of $0.6 for the same quarter of the previous year.
GAAP operating loss for the current quarter was $1.0 million compared to a $1.6 million operating loss for the same quarter of the previous year.
Non-GAAP net income was $1.0 million, or $0.04 per diluted share, for the current quarter compared to non-GAAP net income of $1.2 million, or $0.05 per diluted share, for the same quarter of the previous year.
GAAP net loss was $0.5 million, or $0.02 per diluted share, for the current quarter compared to a net loss of $1.1 million, or $0.04 per diluted share, for the same quarter of the previous year.
Fiscal 2008 Financial Results:
Revenue for the full year ended March 31, 2008, was $79.7 million, a decrease of 2% from $81.0 million for the prior year. Revenue for the full year was unfavorably impacted by lower overall order intake from deemphasized products over the prior four quarters, partially offset by the increase in the orders for scientific operating platform product line solutions.
Non-GAAP operating income was $4.8 million for both the current and the prior fiscal year.
GAAP operating loss was $0.9 million compared to a $2.7 million operating loss for the prior year.
Non-GAAP net income was $7.0 million, or $0.26 per diluted share compared to non-GAAP net income of $6.0 million, or $0.23 per diluted share, for the prior year.
The following information was filed by Accelrys, Inc. (ACCL) on Wednesday, May 14, 2008 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.
View differences made from one year to another to evaluate Accelrys, Inc.'s financial trajectory
Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were
removed , and by Accelrys, Inc..