Accelrys Announces Fiscal 2006 First Quarter Financial Results; Revenue Up 31% and Loss From Continuing Operations Reduced by 27% from the Same Quarter of Last Year.SAN DIEGO San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. -- Accelrys Accelrys (NASDAQ: ACCL) is a San Diego, United States-based software company specializing in research software for bioinformatics, cheminformatics, molecular simulation, and quantum mechanics. , Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ACCL ACCL American Canadian Caribbean Line ACCL Acceleration ACCL American College of Construction Lawyers ACCL Accreditation Council for Clinical Lipidology (Allied Health Certification Program) ACCL Amway China Co Limited ) ("Accelrys" or the "Company") today reported unaudited financial results for the quarter ended June June: see month. 30, 2005. Orders in the quarter ended June 30, 2005 decreased 5% to $14.1 million, down from $14.9 million in the same quarter of last year. This decrease in orders was due to a change in the Company's fiscal year-end Fiscal Year-End The completion of a one-year, or 12-month, accounting period. Notes: The reason that a company's fiscal year often differs from the calendar year and does not close on Dec 31, is due to the nature of company's needs. from December December: see month. 31 to March 31, which caused a number of customer software renewal contracts to be signed in the March quarter rather than the June quarter when they had traditionally been signed. This decrease was partially offset by the addition of orders from the Company's wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. , SciTegic SciTegic is a San Diego-based software company that develops and markets informatics software to the pharmaceutical and biotechnology industries. It was founded in February, 1999 by Mathew Hahn and David Rogers. , Inc. ("SciTegic"), which the Company acquired in September 2004. Revenue, which includes the impact of deferred revenue arising from the Company's switch to subscription accounting, increased 31% to $18.6 million for the quarter ended June 30, 2005, up from $14.2 million in the corresponding quarter of last year. Expenses in the quarter ended June 30, 2005, were $22.5 million compared to $19.7 million in the quarter ended June 30, 2004. This increase in expenses was due primarily to the addition of expenses relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc SciTegic. The Company reported a loss from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the of $(3.7) million, or $(0.14) per share, for the quarter ended June 30, 2005, compared to a loss from continuing operations of $(5.1) million, or $(0.21) per share, in the corresponding quarter of last year. The Company reported a net loss of $(3.7) million, or $(0.14) per share, for the quarter ended June 30, 2005, compared to a net loss of $(6.2) million, or $(0.25) per share, reported in the corresponding quarter of last year. There were no discontinued operations Discontinued operations Divisions of a business that have been sold or written off and that no longer are maintained by the business. reported in the quarter ended June 30, 2005; however there was a net loss from discontinued operations of $(1.1) million, or $(0.05) per share, included in the quarter ended June 30, 2004. "I am pleased to report that our loss from continuing operations decreased substantially from the corresponding quarter of last year, as we realized a 31% increase in revenue and continued to control our costs," said Mark Emkjer, president and chief executive officer of Accelrys. "I continue to look forward to an improving financial performance as we strengthen our competitive position in the marketplace." Conference Call Details At 5:00 p.m. ET today, Accelrys will conduct a conference call to discuss its fiscal 2006 first quarter financial results. Mark Emkjer, the Company's president and chief executive officer, will host the call. To participate, please dial 1-800-659-2032 (+1-617-614-2712 outside the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. ) and enter access code 34196117 approximately 15 minutes before the scheduled start of the call. The conference call will also be accessible live on the Investor Relations Investor relations The process by which the corporation communicates with its investors. section of the Accelrys website at www.accelrys.com. A replay of the conference call will be available online at www.accelrys.com and via telephone by dialing 1-888-286-8010 (+1-617-801-6888 outside the United States) and entering access code 48322849 from 7:00 p.m. ET August 4, 2005 through 11:59 p.m. ET, September 4, 2005. About Accelrys, Inc. Accelrys, Inc. (NASDAQ: ACCL) is a leading provider of software for computation Computation is a general term for any type of information processing that can be represented mathematically. This includes phenomena ranging from simple calculations to human thinking. , simulation, and the management and mining of scientific data used by biologists, chemists This is a list of famous chemists: (alphabetical order) : Top - 0–9 A B C D E F G H I J K L M N O P Q R S T U V W X Y Z A
nanotechnology Manipulation of atoms, molecules, and materials to form structures on the scale of nanometres (billionths of a metre). researchers for product design as well as drug discovery and development. Accelrys' technology and services are designed to meet the needs of today's leading research organizations. The Company is headquartered in San Diego, California “San Diego” redirects here. For other uses, see San Diego (disambiguation). San Diego is a coastal Southern California city located in the southwestern corner of the continental United States. As of 2006, the city has a population of 1,256,951. . For more information about Accelrys, visit its website at http://www.accelrys.com/. This news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. , including, but not limited to, statements regarding improving the Company's financial performance and strengthening its competitive position in the marketplace. These forward-looking statements are only predictions based on current information and expectations and are subject to certain risks and uncertainties, including, but not limited to, customer demand for the Company's products and services, market competition for these products and services, successful and timely development of products and services, market acceptance of new products, integration of acquired businesses, and unforeseen expenses. More information about potential factors that could affect the company's business and financial results is included in the "Risk Factors" set forth in the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended March 31, 2005, and the company's other filings with the Securities and Exchange Commission. Actual results could differ materially, as a result of such factors, from those set forth in the forward- looking statements.
ACCELRYS, INC.
SELECTED CONSOLIDATED FINANCIAL DATA
(Dollars in thousands, except share data)
Statements of Operations
For the Three Months
Ended June 30,
-------------------
2005 2004
--------- ---------
Revenue $18,555 $14,181
Cost of revenue 5,030 3,786
Product Development 4,931 4,123
Sales and marketing 8,499 7,769
General and administrative 4,069 4,009
--------- ---------
Total operating costs and expenses 22,529 19,687
--------- ---------
Operating loss from continuing operations (3,974) (5,506)
Interest and other income, net 698 585
--------- ---------
Loss from continuing operations before income
taxes (3,276) (4,921)
Provision for income taxes 440 135
--------- ---------
Loss from continuing operations (3,716) (5,056)
Loss from Discontinued Operations - (1,117)
--------- ---------
Net Loss $(3,716) $(6,173)
========= =========
Per Share Amounts:
Loss from continuing operations $(0.14) $(0.21)
Loss from discontinued operations - (0.05)
--------- ---------
Net loss $(0.14) $(0.25)
========= =========
Weighted average shares of common stock
outstanding 26,022 24,323
ACCELRYS, INC.
SELECTED CONSOLIDATED FINANCIAL DATA
(Dollars in thousands)
Balance Sheets
June 30, March 31,
2005 2005
--------- ---------
Cash, restricted cash, cash equivalents and
marketable securities $56,327 $63,304
Trade receivables, net 16,128 20,006
Other assets, net 74,958 77,244
--------- ---------
Total assets $147,413 $160,554
========= =========
Current liabilities, excluding deferred revenue $14,475 $19,074
Deferred revenue, short and long-term 37,397 42,596
Long-term liabilities and reserves, excluding
deferred revenue 4,978 5,131
Total stockholders' equity 90,563 93,753
--------- ---------
Total liabilities and stockholders' equity $147,413 $160,554
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