Accelrys Inc. (ACCL, Financial) filed Quarterly Report for the period ended 2011-06-30.
Accelrys Inc. has a market cap of $323.5 million; its shares were traded at around $6 with a P/E ratio of 29.2 and P/S ratio of 10.3.
General and Administrative Expenses. General and administrative expenses increased to $4.0 million for the three months ended June 30, 2011, as compared to $2.6 million for the three months ended June 30, 2010. As a percentage of revenue, general and administrative expenses decreased to 12% for the three months ended June 30, 2011 as compared to 13% for the three months ended June 30, 2010. The increase in general and administrative expenses during the quarter ended June 30, 2011 was primarily attributable to an increase in personnel and related expenses of approximately $0.7 million, an increase in professional fees of approximately $0.2 million and an increase in overhead expense of approximately $0.5 million, each as a result of the Merger.
Business Consolidation, Transaction and Restructuring Costs. Business consolidation, transaction and restructuring costs of $2.4 million for the three months ended June 30, 2011, consisted of $1.5 million in business consolidation costs and $0.8 million in restructuring costs. As a percentage of revenue, business consolidation, transaction and restructuring costs were 7% for the three months ended June 30, 2011 as compared to 9% for the three months ended June 30, 2010. We have classified all transaction and integration related costs to business consolidation costs, which include personnel costs of $0.6 million related to employees who have been notified that their employment with us is being terminated, $0.1 million of acquisition related contingent compensation related to the Contur acquisition and professional service and other costs of $0.8 million directly related to our acquisition activities, including the Merger and integration of Symyxs business into ours. Business consolidation, transaction and restructuring costs of $1.7 million for the three months ended June 30, 2010, consisted of transaction costs related to the Merger.
Royalty and other income (expense), net increased to $1.8 million for the three months ended June 30, 2011 as compared to ($0.1) million for the three months ended June 30, 2010. Significant components of royalty and other income (expense), net for the three months ended June 30, 2011 included interest income of $0.4 million, royalty revenue of $1.7 million, and a foreign currency exchange gain of $0.4 million, partially offset by royalty expense of $0.2 million and amortization of purchased intangible assets of $0.6 million. Significant components of royalty and other income (expense), net for the three months ended June 30, 2010 included interest income of $0.1 million offset by a foreign currency exchange loss of $0.2 million.
Cost of Revenue. Cost of revenue increased to $18.2 million for the six months ended June 30, 2011, as compared to $7.6 million for the six months ended June 30, 2010. As a percentage of revenue, cost of revenue increased to 27% for the six months ended June 30, 2011, as compared to 19% for the six months ended June 30, 2010. The increase in cost of revenue during the six months ended June 30, 2011 was primarily attributable to an increase in software and content royalties of approximately $2.2 million, an increase in personnel and related expenses in our services department of approximately $5.2 million, an increase in professional fees of approximately $1.0 million and an increase in overhead expense of approximately $2.2 million, each as a result of the Merger.
General and Administrative Expenses. General and administrative expenses increased to $8.4 million for the six months ended June 30, 2011, as compared to $5.4 million for the six months ended June 30, 2010. As a percentage of revenue, general and administrative expenses decreased to 12% for the six months ended June 30, 2011, as compared to 13% for the six months ended June 30, 2010. The increase in general and administrative expenses during the six months ended June 30, 2011 was primarily attributable to an increase in personnel and related expenses of approximately $1.5 million, an increase in professional fees of approximately $0.3 million and an increase in overhead expense of approximately $1.2 million, each as a result of the Merger.
Read the The complete Report
Accelrys Inc. has a market cap of $323.5 million; its shares were traded at around $6 with a P/E ratio of 29.2 and P/S ratio of 10.3.
Highlight of Business Operations:
Cost of Revenue. Cost of revenue increased to $8.6 million for the three months ended June 30, 2011, as compared to $4.0 million for the three months ended June 30, 2010. As a percentage of revenue, cost of revenue increased to 25% for the three months ended June 30, 2011 as compared to 20% for the three months ended June 30, 2010. The increase in cost of revenue during the quarter ended June 30, 2011 was primarily attributable to an increase in software and content royalties of approximately $0.6 million, an increase in personnel and related expenses in our services department of approximately $2.5 million, an increase in professional fees of approximately $0.4 million, and an increase in overhead expense of approximately $1.1 million, each as a result of the Merger.General and Administrative Expenses. General and administrative expenses increased to $4.0 million for the three months ended June 30, 2011, as compared to $2.6 million for the three months ended June 30, 2010. As a percentage of revenue, general and administrative expenses decreased to 12% for the three months ended June 30, 2011 as compared to 13% for the three months ended June 30, 2010. The increase in general and administrative expenses during the quarter ended June 30, 2011 was primarily attributable to an increase in personnel and related expenses of approximately $0.7 million, an increase in professional fees of approximately $0.2 million and an increase in overhead expense of approximately $0.5 million, each as a result of the Merger.
Business Consolidation, Transaction and Restructuring Costs. Business consolidation, transaction and restructuring costs of $2.4 million for the three months ended June 30, 2011, consisted of $1.5 million in business consolidation costs and $0.8 million in restructuring costs. As a percentage of revenue, business consolidation, transaction and restructuring costs were 7% for the three months ended June 30, 2011 as compared to 9% for the three months ended June 30, 2010. We have classified all transaction and integration related costs to business consolidation costs, which include personnel costs of $0.6 million related to employees who have been notified that their employment with us is being terminated, $0.1 million of acquisition related contingent compensation related to the Contur acquisition and professional service and other costs of $0.8 million directly related to our acquisition activities, including the Merger and integration of Symyxs business into ours. Business consolidation, transaction and restructuring costs of $1.7 million for the three months ended June 30, 2010, consisted of transaction costs related to the Merger.
Royalty and other income (expense), net increased to $1.8 million for the three months ended June 30, 2011 as compared to ($0.1) million for the three months ended June 30, 2010. Significant components of royalty and other income (expense), net for the three months ended June 30, 2011 included interest income of $0.4 million, royalty revenue of $1.7 million, and a foreign currency exchange gain of $0.4 million, partially offset by royalty expense of $0.2 million and amortization of purchased intangible assets of $0.6 million. Significant components of royalty and other income (expense), net for the three months ended June 30, 2010 included interest income of $0.1 million offset by a foreign currency exchange loss of $0.2 million.
Cost of Revenue. Cost of revenue increased to $18.2 million for the six months ended June 30, 2011, as compared to $7.6 million for the six months ended June 30, 2010. As a percentage of revenue, cost of revenue increased to 27% for the six months ended June 30, 2011, as compared to 19% for the six months ended June 30, 2010. The increase in cost of revenue during the six months ended June 30, 2011 was primarily attributable to an increase in software and content royalties of approximately $2.2 million, an increase in personnel and related expenses in our services department of approximately $5.2 million, an increase in professional fees of approximately $1.0 million and an increase in overhead expense of approximately $2.2 million, each as a result of the Merger.
General and Administrative Expenses. General and administrative expenses increased to $8.4 million for the six months ended June 30, 2011, as compared to $5.4 million for the six months ended June 30, 2010. As a percentage of revenue, general and administrative expenses decreased to 12% for the six months ended June 30, 2011, as compared to 13% for the six months ended June 30, 2010. The increase in general and administrative expenses during the six months ended June 30, 2011 was primarily attributable to an increase in personnel and related expenses of approximately $1.5 million, an increase in professional fees of approximately $0.3 million and an increase in overhead expense of approximately $1.2 million, each as a result of the Merger.
Read the The complete Report
