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Last10K.com | 10-K Annual Report Tue May 26 2009
Exhibit 99.1
ACCELRYS ANNOUNCES FOURTH QUARTER AND FULL YEAR FISCAL 2009
FINANCIAL RESULTS
San Diego, May 21, 2009 — Accelrys, Inc. (NASDAQ: ACCL) today reported financial results for the fiscal quarter and full year ended March 31, 2009.
“We are pleased with our year end results from both a financial and operational standpoint particularly in light of the worldwide recession” said Todd Johnson, Interim President and CEO of Accelrys. “We achieved profitability on both a GAAP and non-GAAP basis for the year and increased our cash balance by $5.4 million. We enhanced our life sciences and materials sciences offerings and released Pipeline Pilot Enterprise Server 7.5, the latest version of our industry-leading scientific operating platform. The new release includes enhanced enterprise-level implementation and security capabilities, thereby further enabling the broader deployment of Pipeline Pilot to our customer base. These enhanced enterprise-wide capabilities are enabling our platform to continue to gain momentum, as we have seen substantial increases in the use of our platform within our largest customers, including most of the world’s largest pharmaceutical companies. This success combined with the increased competitiveness of our modeling and simulation products has us entering the new fiscal year stronger, more competitively positioned, and excited about the momentum in our business. This fiscal year we will continue to focus on our broader value proposition by offering integrated solutions that include our modeling and simulation products, our cheminformatics capabilities, and the power and reach of Pipeline Pilot, both to current customers and to new customers in new markets, thereby positioning us for continued growth.”
Fourth Quarter 2009 Financial Results:
| • | Revenue for the quarter ended March 31, 2009 decreased 2% to $20.0 million from $20.4 million for the same quarter of the previous year. |
| • | Non-GAAP net loss was $1.5 million, or $(0.05) per diluted share, for the current quarter compared to non-GAAP net income of $1.0 million, or $0.04 per diluted share, for the same quarter of the previous year. The non-GAAP net loss in the current quarter included $2.4 million of additional severance expense, as compared to the same quarter of the previous year. |
| • | GAAP net loss was $2.2 million, or $(0.08) per diluted share, for the current quarter compared to GAAP net loss of $0.5 million, or $(0.02) per diluted share, for the same quarter of the previous year. The GAAP net loss in the current quarter included $2.4 million of additional severance expense, as compared to the same quarter of the previous year. |
Fiscal 2009 Financial Results:
| • | Revenue for the full year ended March 31, 2009, was $81.0 million, an increase of 2% from $79.7 million for the prior year. |
| • | Non-GAAP net income was $6.0 million, or $0.22 per diluted share compared to non-GAAP net income of $7.0 million, or $0.26 per diluted share, for the prior year. The non-GAAP net income in the current year included $2.7 million of additional severance expense, as compared to the prior year. |
| • | GAAP net income was $0.1 million, or $0.00 per diluted share, compared to GAAP net income of $1.3 million, or $0.05 per share, for the prior year. The GAAP net income in the current year included $2.7 million of additional severance expense, as compared to the prior year. |
| • | At March 31, 2009, the Company had total cash, cash equivalents, restricted cash and marketable securities of $81.8 million, an increase of $5.4 million from March 31, 2008. |
Recent Business and Financial Highlights:
| • | Released Pipeline Pilot Enterprise Server 7.5, the latest version of the Company’s scientific operating platform, with improved enterprise deployment and security capabilities. Pipeline Pilot Enterprise Server 7.5 integrates with Microsoft Office SharePoint Server 2007, enabling users to execute and display applications from the familiar, widely supported SharePoint Server environment. |
| • | Received the 2009 Frost & Sullivan Growth Strategy Leadership Award for the North American Scientific Business Intelligence Pharmaceutical and Biotechnology Market. The award is given to the company that has bolstered its position in the market during the base year and whose strategy and technological innovation will have a lasting impact on the market. |
The following information was filed by Accelrys, Inc. (ACCL) on Thursday, May 21, 2009 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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Accelrys, Inc. provided additional information to their SEC Filing as exhibits
Exhibit 10.36: Management Incentive Plan
Exhibit 21.1: Subsidiaries Of Accelrys, Inc.
Exhibit 23.1: Consent Of Independent Registered Public Accounting Firm
Exhibit 31.1: Section 302 Certification Of The Principal Executive Officer
Exhibit 31.2: Section 302 Certification Of The Principal Financial Officer
Exhibit 32.1: Certification Of The Chief Executive Officer And Chief Financial Officer
Ticker: ACCL
CIK: 1002388
Form Type: 10-K Annual Report
Accession Number: 0001193125-09-118381
Submitted to the SEC: Tue May 26 2009 4:07:55 PM EST
Accepted by the SEC: Tue May 26 2009
Period: Tuesday, March 31, 2009
Industry: Prepackaged Software
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