This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Accelrys Announces Fourth Quarter And Full Year 2011 Financial Results

Accelrys, Inc. (NASDAQ:ACCL) today reported financial results for the quarter and full year ended December 31, 2011. Non-GAAP revenue for the quarter ended December 31, 2011 decreased $1.6 million to $40.8 million from $42.5 million for the same quarter of the previous year, or a decrease of 4%. Non-GAAP revenue for the year ended December 31, 2011 increased $30.3 million to $155.0 million from $124.7 million for the 12 months ended December 31, 2010, or an increase of 24%.

Non-GAAP net income was $4.6 million, or $0.08 per diluted share, for the quarter ended December 31, 2011 compared to non-GAAP net income of $4.3 million, or $0.08 per diluted share, for the same quarter of the previous year. Non-GAAP net income was $19.0 million, or $0.34 per diluted share, for the year ended December 31, 2011 compared to non-GAAP net income of $10.6 million, or $0.25 per diluted share, for the 12 months ended December 31, 2010.

Non-GAAP free cash flow was $7.9 million for the quarter ended December 31, 2011 compared to non-GAAP free cash flow of $5.7 million for the same quarter of the previous year. Non-GAAP free cash flow more than doubled to $33.2 million for the year ended December 31, 2011 when compared to non-GAAP free cash flow of $15.5 million for the 12 months ended December 31, 2010.

The GAAP results for the quarter and year ended December 31, 2011 were impacted by the business combination accounting associated with the acquisitions of Contur Industry Holding AB and Contur Software AB (collectively, “Contur”) and VelQuest Corporation (“VelQuest”) in 2011 and the merger with Symyx Technologies in 2010, and by other nonrecurring acquisition-related and restructuring costs. GAAP revenue, GAAP operating loss, other income and GAAP net income for the quarter and year ended December 31, 2011 were negatively impacted by fair value adjustments to both deferred revenue ($1.1 million and $10.7 million, respectively) and deferred royalty income ($0.2 million and $0.8 million, respectively). GAAP operating income for those periods was also negatively impacted by business consolidation, transaction and restructuring costs ($1.5 million and $7.8 million, respectively), stock-based compensation expense ($1.4 million and $5.6 million, respectively) and purchased intangible asset amortization ($4.6 million and $18.2 million, respectively), while GAAP net income for the same periods was negatively impacted by additional purchased intangible asset amortization ($0.6 million and $2.4 million, respectively). In addition, GAAP net income was positively impacted by the net gain recognized upon the sale of our equity investment in Intermolecular ($19.0 million in both periods), offset by the write off of the associated intangible assets ($4.3 million in both periods).

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,776.12 -200.19 -1.11%
S&P 500 2,067.89 -18.35 -0.88%
NASDAQ 4,900.8850 -46.5560 -0.94%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs