Accelrys Inc. (ACCL, Financial) filed Quarterly Report for the period ended 2009-09-30.
Accelrys Inc. provides scientific innovation and technology leadership in delivering software and service solutions that span the continuum of discovery and development research. A unique combination of expertise in life and materials science informatics and scientific operating platform technology lets Accelrys serve a diverse range of clients including some of the world's leading pharmaceutical biotechnology chemical and nanotechnology research organizations. Accelrys is headquartered in San Diego California. Accelrys Inc. has a market cap of $153.1 million; its shares were traded at around $5.58 with a P/E ratio of 69.8 and P/S ratio of 1.9.
Cost of revenue decreased 6% to $3.4 million for the three months ended September 30, 2009, as compared to $3.5 million for the three months ended September 30, 2008. As a percentage of revenue, cost of revenue was 17% for the three months ended September 30, 2009 as compared to 18% for the three months ended September 30, 2008. The decrease in cost of revenue was due to lower personnel costs of approximately $0.2 million and favorable foreign currency fluctuations of $0.1 million, partially offset by an increase in consulting costs of approximately $0.1 million.
Cost of revenue decreased 3% to $6.8 million for the six months ended September 30, 2009, as compared to $7.0 million for the six months ended September 30, 2008. As a percentage of revenue, cost of revenue was consistent at 17% for each of the six months ended September 30, 2009 and 2008. The decrease in cost of revenues was due to favorable foreign currency fluctuations of approximately $0.4 million, offset by an increase in personnel and consulting costs of approximately $0.1 million and software royalties and distributor commissions of approximately $0.1 million.
General and Administrative Expenses. General and administrative expenses increased 5% to $7.1 million for the six months ended September 30, 2009, as compared to $6.7 million for the six months ended September 30, 2008. As a percentage of revenue, general and administrative expenses was consistent at 17% for each of the six months ended September 30, 2009 and 2008. The increase was primarily attributable to an increase in relocation expenses of $0.3 million as well as an increase in professional services fees of $0.4 million. These amounts were partially offset by overhead cost savings of $0.1 million and favorable foreign currency fluctuations of $0.1 million.
Net interest and other income was $0.3 million for the six months ended September 30, 2009, as compared to $0.6 million for the six months ended September 30, 2008. The decrease in net interest and other income was primarily attributable to lower interest income of approximately $0.7 million due to a decrease in interest rates obtained on our cash and marketable securities balances during the six months ended September 30, 2009, partially offset by a gain of $0.2 million related to our auction rate securities (ARS) portfolio as well as favorable foreign currency fluctuations of $0.1 million.
Net cash provided by investing activities was $11.6 million for the six months ended September 30, 2009, as compared to net cash used in investing activities of $1.3 million for the six months ended September 30, 2008. Significant components of cash flows from investing activities for the six months ended September 30, 2009 included net purchases of property and equipment of $0.3 million, and a net decrease in our marketable securities portfolio of $11.8 million. Significant components of cash flows from investing activities for the six months ended September 30, 2008 included net purchases of property and equipment of $0.5 million, purchases of software licenses of $1.9 million, and a net decrease in our marketable securities portfolio of $1.1 million.
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Accelrys Inc. provides scientific innovation and technology leadership in delivering software and service solutions that span the continuum of discovery and development research. A unique combination of expertise in life and materials science informatics and scientific operating platform technology lets Accelrys serve a diverse range of clients including some of the world's leading pharmaceutical biotechnology chemical and nanotechnology research organizations. Accelrys is headquartered in San Diego California. Accelrys Inc. has a market cap of $153.1 million; its shares were traded at around $5.58 with a P/E ratio of 69.8 and P/S ratio of 1.9.
Highlight of Business Operations:
Revenue decreased 1% to $20.0 million for the three months ended September 30, 2009, as compared to $20.1 million for the three months ended September 30, 2008. Revenues during the quarter ended September 30, 2009 were favorably impacted by an increase in software revenues of $0.5 million, offset by a decrease in services revenue of $0.4 million and maintenance and other revenue of $0.2 million.Cost of revenue decreased 6% to $3.4 million for the three months ended September 30, 2009, as compared to $3.5 million for the three months ended September 30, 2008. As a percentage of revenue, cost of revenue was 17% for the three months ended September 30, 2009 as compared to 18% for the three months ended September 30, 2008. The decrease in cost of revenue was due to lower personnel costs of approximately $0.2 million and favorable foreign currency fluctuations of $0.1 million, partially offset by an increase in consulting costs of approximately $0.1 million.
Cost of revenue decreased 3% to $6.8 million for the six months ended September 30, 2009, as compared to $7.0 million for the six months ended September 30, 2008. As a percentage of revenue, cost of revenue was consistent at 17% for each of the six months ended September 30, 2009 and 2008. The decrease in cost of revenues was due to favorable foreign currency fluctuations of approximately $0.4 million, offset by an increase in personnel and consulting costs of approximately $0.1 million and software royalties and distributor commissions of approximately $0.1 million.
General and Administrative Expenses. General and administrative expenses increased 5% to $7.1 million for the six months ended September 30, 2009, as compared to $6.7 million for the six months ended September 30, 2008. As a percentage of revenue, general and administrative expenses was consistent at 17% for each of the six months ended September 30, 2009 and 2008. The increase was primarily attributable to an increase in relocation expenses of $0.3 million as well as an increase in professional services fees of $0.4 million. These amounts were partially offset by overhead cost savings of $0.1 million and favorable foreign currency fluctuations of $0.1 million.
Net interest and other income was $0.3 million for the six months ended September 30, 2009, as compared to $0.6 million for the six months ended September 30, 2008. The decrease in net interest and other income was primarily attributable to lower interest income of approximately $0.7 million due to a decrease in interest rates obtained on our cash and marketable securities balances during the six months ended September 30, 2009, partially offset by a gain of $0.2 million related to our auction rate securities (ARS) portfolio as well as favorable foreign currency fluctuations of $0.1 million.
Net cash provided by investing activities was $11.6 million for the six months ended September 30, 2009, as compared to net cash used in investing activities of $1.3 million for the six months ended September 30, 2008. Significant components of cash flows from investing activities for the six months ended September 30, 2009 included net purchases of property and equipment of $0.3 million, and a net decrease in our marketable securities portfolio of $11.8 million. Significant components of cash flows from investing activities for the six months ended September 30, 2008 included net purchases of property and equipment of $0.5 million, purchases of software licenses of $1.9 million, and a net decrease in our marketable securities portfolio of $1.1 million.
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