UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-Q
(Mark One)
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QUARTERLY REPORT PURSUANT TO
SECTION 13 OR 15(d) OF THE |
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For the quarterly period ended September 30, 2004 |
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or |
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TRANSITION REPORT PURSUANT TO
SECTION 13 OR 15(d) OF THE |
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For the transition period from to |
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Commission File Number: 0-27118
ACCELRYS, INC.
(Exact name of registrant as specified in its charter)
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Delaware |
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33-0557266 |
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(State or other jurisdiction of incorporation or organization) |
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(I.R.S. Employer Identification No.) |
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9685 Scranton Road, San Diego, California |
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92121-1761 |
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(Address of principal executive offices) |
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(Zip code) |
(858) 799-5000
(Registrant’s telephone number, including area code)
Not applicable
(Former name, former address and former fiscal year, if changed since last report)
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. Yes ý No o
Indicate by check mark whether the registrant is an accelerated filer (as defined in Rule 12b-2 of the Exchange Act). Yes ý No o
Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date:
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Class |
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Outstanding at October 29, 2004 |
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Common Stock, $.0001 par value |
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26,508,671 shares |
Form 10-Q
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Statements of Cash Flows – Six Months Ended September 30, 2004 and 2003 |
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Management’s Discussion and Analysis of Financial Condition and Results of Operations |
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2
Item 1. Unaudited Consolidated Financial Statements
Accelrys, Inc.
Consolidated Balance Sheets
(Dollars and share amounts in thousands)
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September 30, |
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December 31, |
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(unaudited) |
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(note 1) |
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ASSETS |
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Current assets: |
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Cash and cash equivalents |
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$ |
19,935 |
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$ |
26,985 |
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Restricted cash |
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7,133 |
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— |
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Marketable securities |
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39,584 |
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106,546 |
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Trade receivables, net of allowance for doubtful accounts of $219 and $505, respectively |
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11,804 |
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39,780 |
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Prepaid expenses and other current assets |
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6,182 |
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4,197 |
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Current assets of discontinued operations |
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— |
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3,994 |
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Total current assets |
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84,638 |
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181,502 |
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Property and equipment, net |
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7,908 |
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8,441 |
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Goodwill |
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37,809 |
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34,072 |
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Intangible assets |
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16,300 |
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— |
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Software development costs, net of accumulated amortization of $29,123 and $26,555, respectively |
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7,766 |
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7,634 |
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Other assets |
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852 |
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960 |
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Long-term assets of discontinued operations |
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— |
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7,058 |
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Total assets |
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$ |
155,273 |
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$ |
239,667 |
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LIABILITIES AND STOCKHOLDERS’ EQUITY |
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Current liabilities: |
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Accounts payable |
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$ |
1,229 |
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$ |
1,850 |
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Accrued liabilities |
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16,984 |
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18,819 |
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Deferred revenue, current portion |
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25,978 |
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24,595 |
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Current liabilities of discontinued operations |
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— |
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6,420 |
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Total current liabilities |
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44,191 |
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51,684 |
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Deferred revenue, long-term |
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3,541 |
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4,924 |
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Lease guarantee, long-term |
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682 |
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— |
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Long-term liabilities of discontinued operations |
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— |
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325 |
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Stockholders’ equity: |
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Preferred stock, $.0001 par value, 2,000 shares authorized, none issued and outstanding |
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— |
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— |
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Common stock, $.0001 par value, 40,000 shares authorized, 26,508 and 24,949 shares issued, respectively |
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2 |
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2 |
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Additional paid-in capital |
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252,640 |
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287,592 |
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Unearned compensation |
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(1,920 |
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(536 |
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Lease guarantee |
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(730 |
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— |
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Treasury stock, 644 shares |
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(8,340 |
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(8,340 |
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Accumulated deficit |
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(135,344 |
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(97,318 |
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Accumulated comprehensive income |
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551 |
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1,334 | |||