Scientific software maker Accelrys ($ACCL) grew revenue to $41.6 million in the most recent quarter and kept pushing to become a platform for drugmakers and other R&D operations to manage and share lab data. The company rolled to a 13% jump in non-GAAP revenue for the quarter that ended June 30, yet net income fell from $4.4 million a year earlier to $4.1 million.
San Diego-based Accelrys has been beefing up its software offerings to provide labs with one-stop shopping, and in the most recent quarter, the company acquired cloud-based drug discovery information technology from Scynexis as part of a 2011 pact. Meantime, the company has pushed an enterprise platform through which it offers key software such as its Discovery Studio for supporting labs doing small molecule and biologic drug research.
Accelrys has been competing with PerkinElmer ($PKI) in the growing market for electronic lab notebooks (ELNs), which have been replacing paper-based systems in pharma and other industries and offer ways to streamline management and sharing of data from experiments. Accelrys expanded its ELN business in recent years with the acquisitions of Contur last year and Symyx Technologies in 2010. And more recently it expanded into the quality-control market with the 2011 buyout of VelQuest.
"I am pleased with our financial and operating results, as both non-GAAP revenue and operating income have again increased year-over-year, thereby continuing to demonstrate our delivery on our growth and profit objectives," said Max Carnecchia, Accelrys' CEO, in a statement. "These results reinforce our position as the leading provider of scientific innovation lifecycle management software."
The company expects full-year revenue of $166 million to $170 million. Yet Reuters notes that analysts on average are projecting higher annual revenue of $173 million.
- here's the full earnings release
- and Reuters' note
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