Accelrys Inc. (NASDAQ:ACCL) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Accelrys Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 714.29% to $0.57 in the quarter versus EPS of $0.07 in the year-earlier quarter.
Revenue: Rose 8.88% to $41.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Accelrys Inc. reported adjusted EPS income of $0.57 per share. By that measure, the company beat the mean analyst estimate of $0.07. It missed the average revenue estimate of $43.13 million.
Quoting Management: “The implementation of our market segment strategy and field coverage model continued to take hold during the quarter and our execution improved across the business producing positive results overall. Orders performance for the second quarter improved from Q1 2013 and represented solid growth over the second quarter of 2012,” said Max Carnecchia, President and Chief Executive Officer of Accelrys. “The teams are gaining momentum and we have added additional talent to the organization. Overall the market dynamics appear to be improving; and we remain confident that we are uniquely positioned to create a growing world-class software company and capitalize on the scientific innovation lifecycle management market opportunity. The restructuring announced today further strengthens our financial position and aligns our resources with the significant growth opportunity of our business.”
Key Stats (on next page)…