ACCELRYS ANNOUNCES SECOND QUARTER RESULTS
Non-GAAP Revenue up 13% to $41.6 million
San Diego, August 2, 2012 - Accelrys, Inc. (NASDAQ: ACCL) today reported financial results for the fiscal quarter ended June 30, 2012, including a 13% year-over-year increase in Non-GAAP revenue. The Company's results demonstrate its continuing progress in executing on its strategy to help R&D organizations optimize their lab to market value chain. In addition, the Company enhanced its market leading position with a key product release, an important strategic partnership and a technology acquisition that aligns with the significant trend in the market to externalize scientific research.
Non-GAAP revenue for the quarter ended June 30, 2012 increased $4.9 million to $41.6 million from $36.7 million for the same quarter of the previous year, or an increase of 13%. Non-GAAP revenue for the six months ended June 30, 2012 increased $7.2 million to $83.3 million from $76.2 million for the same period of the previous year, or an increase of 9%.
Non-GAAP net income was $4.1 million, or $0.07 per diluted share, for the quarter ended June 30, 2012 compared to non-GAAP net income of $4.4 million, or $0.08 per diluted share, for the same quarter of the previous year. Non-GAAP net income was $8.7 million, or $0.15 per diluted share, for the six months ended June 30, 2012 compared to non-GAAP net income of $9.1 million, or $0.16 per diluted share, for the same period of the previous year.
GAAP revenue for the quarter ended June 30, 2012 increased $4.7 million to $38.4 million from $33.7 million for the same quarter of the previous year, or an increase of 14%. GAAP revenue for the six months ended June 30, 2012 increased $9.5 million to $77.8 million from $68.3 million for the same period of the previous year, or an increase of 14%.
GAAP net loss was $(0.5) million or $(0.01) per diluted share, for the current quarter compared to GAAP net loss of $(4.5) million, or $(0.08) per diluted share, for the same quarter of the previous year. GAAP net loss was $(2.8) million or $(0.05) per diluted share, for the six months ended June 30, 2012 compared to GAAP net loss of $(10.2) million, or $(0.18) per diluted share, for the same period of the previous year.
“I am pleased with our financial and operating results, as both non-GAAP revenue and operating income have again increased year-over-year, thereby continuing to demonstrate our delivery on our growth and profit objectives,” said Max Carnecchia, President and Chief Executive Officer of Accelrys.“These results reinforce our position as the leading provider of scientific innovation lifecycle management software.”
Recent Business Highlights:
Released Discovery Studio 3.5, delivering new science and simulation capabilities in the small-molecule design and fast-growing biotherapeutics domains. In addition, the solution takes advantage of the latest scientific capabilities accessible via the Accelrys Enterprise Platform, which is particularly important to information-driven R&D environments.
Signed a strategic partnership with Thomson Reuters, providing real-time access to curated life sciences content from Thompson Reuters' Cortellis® for Informatics via a Component Collection built on the Accelrys Enterprise Platform and allowing scientists in pharmaceutical and biotech organizations to gain access to expert content and analysis tools through a single, user-friendly source.
Announced the asset purchase of Cloud-based HEOS drug discovery information management technology from SCYNEXIS, completing the final phase of a strategic agreement that began in 2011.
Furthered traction within academia announcing two key agreements that support key research trends by completing a tailored academic license agreement with Gulf Coast Consortia for multi-center collaborative research and cloud-based data sharing leveraging multiple Accelrys solutions and signing a 16 university-wide trial of Contur ELN, the largest trial of academic electronic lab notebooks in the UK.
The GAAP results for the three and six months ended June 30, 2012 were impacted by the business combination accounting associated with the acquisitions of Contur Industry Holding AB and Contur Software AB (collectively, “Contur”) and VelQuest Corporation (“VelQuest”), both in 2011, and the merger with Symyx Technologies, Inc. (“Symyx”) in 2010, and by other nonrecurring items. GAAP revenue, GAAP operating loss, and GAAP net loss for the three and six months ended June 30, 2012 were affected by fair value adjustments to deferred revenue ($3.2 million and $5.5 million, respectively). GAAP operating loss for such three and six-month periods was additionally affected by stock-based compensation expense ($1.8 million and $3.6
The following information was filed by Accelrys, Inc. (ACCL) on Thursday, August 2, 2012 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.