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Accelrys, Inc.
Device firm reports decline in revenue
February 23rd, 2005
Accelrys, Inc., (ACCL) reported financial results for the third quarter and first 9 months of fiscal 2005. Orders booked in the December 2004 quarter grew 9% to $37.9 million, up from $34.8 million in the same quarter of last year. As previously announced, the company is in the process of moving the majority of its customers to subscription type contracts from annual or perpetual type contracts. The subscription contract requires ratable revenue recognition over the life of the contract. Accordingly, at signing, these subscription contracts result in the majority of the revenue being deferred to future periods. In the December 2004 quarter, 53% of...
Source: Healthcare Finance, Tax & Law Weekly (2005-02-23)
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