Accelrys Inc. (ACCL, Financial) filed Quarterly Report for the period ended 2012-09-30.
Accelrys, Inc. has a market cap of $493.8 million; its shares were traded at around $8.95 with a P/E ratio of 26.2 and P/S ratio of 3.4.
Royalty and other income, net increased to $1.9 million for the three months ended September 30, 2012 as compared to $0.9 million for the three months ended September 30, 2011. Significant components of royalty and other income, net for the three months ended September 30, 2012 included net royalty income of $1.2 million, interest income of $0.6 million, amortization of the discount on promissory notes receivable of $0.3 million and foreign currency exchange gain of $0.2 million, partially offset by amortization of purchased intangible assets of $0.4 million. Significant components of royalty and other income, net for the three months ended September 30, 2011 included net interest income of $0.3 million, royalty revenue of $1.3 million and rental income of $0.2 million, partially offset by a foreign currency exchange loss of $0.1 million, royalty expense of $0.1 million and amortization of purchased intangible assets of $0.6 million.
Total revenue increased to $118.3 million for the nine months ended September 30, 2012, as compared to $104.6 million for the nine months ended September 30, 2011. The increase in revenue during the nine months ended September 30, 2012 was attributable to a decrease in the impact of acquisition-related valuation adjustments on revenue recognition related to the Symyx Merger, combined with incremental revenue from the VelQuest and Contur acquisitions. Total revenue generated in the U.S. accounted for $57.9 million, or 49% of revenue for the nine months ended September 30, 2012, compared with $48.6 million, or 47% of revenues for the nine months ended September 30, 2011. International revenues accounted for $60.4 million, or 51% of revenue for the nine months ended September 30, 2012, compared with $56.0 million, or 53% of revenues for the nine months ended September 30, 2011.
Cost of Revenue. Cost of revenue increased to $29.7 million for the nine months ended September 30, 2012, as compared to $26.6 million for the nine months ended September 30, 2011. As a percentage of revenue, cost of revenue remained consistent at 25% for both the nine months ended September 30, 2012 and the nine months ended September 30, 2011. The increase in cost of revenue during the nine months ended September 30, 2012 was primarily attributable to increases in personnel and related expenses in our services department of approximately $2.9 million from higher headcount, consulting and professional fees of approximately $0.5 million, overhead expense of approximately $0.2 and capitalized labor costs of $0.3 million, partially offset by a decrease in software and content royalties of approximately $0.5 million and a decrease in distributor commissions of approximately $0.1 million.
Royalty and other income, net increased to $7.1 million for the nine months ended September 30, 2012, as compared to $5.0 million for the nine months ended September 30, 2011. Significant components of royalty and other income, net for the nine months ended September 30, 2012 included net royalty revenue of $4.0 million, interest income of $1.8 million, amortization of the discount on promissory notes receivable of $0.7 million and the net gain on the sale of real estate of $2.7 million, partially offset by a foreign currency exchange loss of $0.4 million, amortization of purchased intangible assets of $1.3 million and $0.3 million net loss from rental activities primarily related to write off of certain lease-related assets. Significant components of royalty and other income, net for the nine months ended September 30, 2011 included interest income of $0.9 million, amortization of the discount on promissory notes receivable of $0.1 million, royalty revenue of $5.1 million and a foreign currency exchange gain of $0.9 million, partially offset by royalty expense of $0.4 million and amortization of purchased intangible assets of $1.8 million. The decrease in net royalty income during the nine months ended September 30, 2012 was primarily attributable to the termination of IM s royalty obligations to Symyx pursuant to the terms of the July 28, 2011 IM Agreement.
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Accelrys, Inc. has a market cap of $493.8 million; its shares were traded at around $8.95 with a P/E ratio of 26.2 and P/S ratio of 3.4.
Highlight of Business Operations:
Total revenue increased to $40.5 million for the three months ended September 30, 2012, as compared to $36.3 million for the three months ended September 30, 2011. The increase in revenue during the quarter ended September 30, 2012 was attributable to incremental revenue from the Contur and VelQuest acquisitions, combined with a decrease in the impact of acquisition-related valuation adjustments on revenue recognition related to the Symyx Merger and the Contur Acquisition. Total revenue generated in the U.S. accounted for $19.8 million, or 49% of revenue for the three months ended September 30, 2012, compared with $16.7 million, or 46% of revenues for the three months ended September 30, 2011. International revenues accounted for $20.7 million, or 51% of revenue for the three months ended September 30, 2012, compared with $19.6 million, or 54% of revenues for the three months ended September 30, 2011.Royalty and other income, net increased to $1.9 million for the three months ended September 30, 2012 as compared to $0.9 million for the three months ended September 30, 2011. Significant components of royalty and other income, net for the three months ended September 30, 2012 included net royalty income of $1.2 million, interest income of $0.6 million, amortization of the discount on promissory notes receivable of $0.3 million and foreign currency exchange gain of $0.2 million, partially offset by amortization of purchased intangible assets of $0.4 million. Significant components of royalty and other income, net for the three months ended September 30, 2011 included net interest income of $0.3 million, royalty revenue of $1.3 million and rental income of $0.2 million, partially offset by a foreign currency exchange loss of $0.1 million, royalty expense of $0.1 million and amortization of purchased intangible assets of $0.6 million.
Total revenue increased to $118.3 million for the nine months ended September 30, 2012, as compared to $104.6 million for the nine months ended September 30, 2011. The increase in revenue during the nine months ended September 30, 2012 was attributable to a decrease in the impact of acquisition-related valuation adjustments on revenue recognition related to the Symyx Merger, combined with incremental revenue from the VelQuest and Contur acquisitions. Total revenue generated in the U.S. accounted for $57.9 million, or 49% of revenue for the nine months ended September 30, 2012, compared with $48.6 million, or 47% of revenues for the nine months ended September 30, 2011. International revenues accounted for $60.4 million, or 51% of revenue for the nine months ended September 30, 2012, compared with $56.0 million, or 53% of revenues for the nine months ended September 30, 2011.
Cost of Revenue. Cost of revenue increased to $29.7 million for the nine months ended September 30, 2012, as compared to $26.6 million for the nine months ended September 30, 2011. As a percentage of revenue, cost of revenue remained consistent at 25% for both the nine months ended September 30, 2012 and the nine months ended September 30, 2011. The increase in cost of revenue during the nine months ended September 30, 2012 was primarily attributable to increases in personnel and related expenses in our services department of approximately $2.9 million from higher headcount, consulting and professional fees of approximately $0.5 million, overhead expense of approximately $0.2 and capitalized labor costs of $0.3 million, partially offset by a decrease in software and content royalties of approximately $0.5 million and a decrease in distributor commissions of approximately $0.1 million.
Royalty and other income, net increased to $7.1 million for the nine months ended September 30, 2012, as compared to $5.0 million for the nine months ended September 30, 2011. Significant components of royalty and other income, net for the nine months ended September 30, 2012 included net royalty revenue of $4.0 million, interest income of $1.8 million, amortization of the discount on promissory notes receivable of $0.7 million and the net gain on the sale of real estate of $2.7 million, partially offset by a foreign currency exchange loss of $0.4 million, amortization of purchased intangible assets of $1.3 million and $0.3 million net loss from rental activities primarily related to write off of certain lease-related assets. Significant components of royalty and other income, net for the nine months ended September 30, 2011 included interest income of $0.9 million, amortization of the discount on promissory notes receivable of $0.1 million, royalty revenue of $5.1 million and a foreign currency exchange gain of $0.9 million, partially offset by royalty expense of $0.4 million and amortization of purchased intangible assets of $1.8 million. The decrease in net royalty income during the nine months ended September 30, 2012 was primarily attributable to the termination of IM s royalty obligations to Symyx pursuant to the terms of the July 28, 2011 IM Agreement.
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