Accelrys, one of the world's largest providers of life sciences research software, saw its revenue for the second quarter spike with additional income streams from its acquisitions of Symyx and Contur, the firm reported early last week. And CEO Max Carnecchia talked up the benefits of the Symyx merger to his company.
The San Diego-based company ($ACCL) brought in $36.7 million in non-GAAP revenue for the quarter ended June 30, an 86% jump from the $19.8 million in took in during the same period a year ago. Profits also grew, with non-GAAP net income of $4.4 million, up from $900,000.
Much of the increases in revenue and profits are due to the firm's merger with rival R&D software maker Symyx last year. That deal closed on July 1, 2010 and gave Accelrys a greater share of the fast-growing market for electronic laboratory notebook (ELN) software. Then, during the recent second quarter, Accelrys went out and bought Contur, adding more ELN technology to its product portfolio.
"As we mark a key milestone, the first anniversary of the Symyx merger, we are pleased that we have achieved our key objectives for the past twelve months," Carnecchia said in a statement. "We have realized significant operating synergies, created an integrated product roadmap, integrated our key products and our field organization. As a result, we are the leading pure-play software vendor in our market and are significantly more profitable than the two pre-merger standalone organizations."