Accelrys, Inc. (NASDAQ:ACCL) today reported financial results for the quarter and full year ended March 31, 2007.

“We are pleased with our financial performance in fiscal 2007,” said Mark J. Emkjer, Accelrys President and Chief Executive Officer. “We showed an approximately $6 million improvement in our bottom line and continued to generate positive cash flow, despite challenging market conditions and budget constraints experienced by our large pharmaceutical customers. Operationally, we delivered major new releases on time and with high quality across all of our product lines. These new releases add exciting technologies, substantially completing the modernization of our product portfolio.”

Financial Results:

Revenue for the quarter ended March 31, 2007 increased 2% to $19.9 million from $19.4 million for the same quarter of the previous year. For the year ended March 31, 2007, revenue decreased 1% to $81.0 million from $82.0 million for the previous year. Revenue in the current quarter and year was favorably impacted by continued growth in the Company’s scientific operating platform product line, offset by reduced sales of certain legacy products that were deemphasized in connection with the restructuring and product line adjustments that have occurred over the past two fiscal years.

Non-GAAP operating income was $0.6 million for the current quarter, compared to a non-GAAP operating loss of $1.7 million for the same quarter of the previous year. For the full year, non-GAAP operating income was $4.8 million, compared to a non-GAAP operating loss of $1.9 million for the previous year. On a GAAP basis, operating loss for the current quarter was $1.6 million, a 74% reduction from a $6.4 million operating loss for the same quarter of the previous year. For the full year, GAAP operating loss was $2.7 million, a 69% reduction from an $8.7 million operating loss for the previous year. Operating income on both a GAAP and non-GAAP basis was favorably impacted in fiscal year 2007 by cost control measures implemented in previous years and on a GAAP basis by lower restructuring charges and restatement costs.

Non-GAAP net income was $1.2 million, or $0.05 per share, for the current quarter, compared to a non-GAAP net loss of $1.8 million, or $0.07 per share, for the same quarter of the previous year. For the full year, non-GAAP net income was $6.0 million, or $0.23 per share, compared to a non-GAAP net loss of $0.9 million, or $0.03 per share, for the previous year. On a GAAP basis, the Company reported a net loss of $1.1 million, or $0.04 per share, for the current quarter, an 84% reduction from a net loss of $6.4 million, or $0.25 per share, for the same quarter of the previous year. For the full year, GAAP net loss was $1.5 million, or $0.06 per share, an 80% reduction from a net loss of $7.7 million, or $0.30 per share, for the previous year. Net income on both a GAAP and non-GAAP basis was favorably impacted in fiscal year 2007 by cost control measures implemented in previous years and on a GAAP basis by lower restructuring charges and restatement costs.

At March 31, 2007, the Company had total cash, cash equivalents, restricted cash and marketable securities of $70.8 million, an increase of 7% from March 31, 2006.

Posted: 05|16|07 at 9:54 am. Filed under: News.