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Symyx Technologies, Inc.
engages in the development and application of research technologies and research software for the chemicals, energy, life science, consumer product, and other industries. It offers research services on behalf of collaborative partners. The company also provides Symyx Tools, which include high-throughput reactors, screening systems, robots, and other analytical equipment. These instruments are integrated with Symyx Software, which facilitates the process of designing, executing, and evaluating research and development. Symyx Technologies licenses automation and data mining applications, as well as ELN software. Its Symyx Software enhances experiment design, laboratory automation, data capture, data analysis and visualization, and data communication in high-throughput and traditional research environments. The company also provides associated support, maintenance, and consulting services. In addition, it offers selective access to its intellectual property through patent licensing, materials licensing, technology licensing, and original equipment manufacturer software licensing. The company, through its 38% interest in Visyx Technologies, Inc., provides development services and licenses for specific applications to intellectual property associated with the company's sensor technology. It operates in North America, Europe, and Japan. Symyx Technologies was founded in 1994 and is headquartered in Santa Clara, California.
3100 Central Expressway
Santa Clara, CA 95051
Mr. Steven D. Goldby, 67
Mr. Isy Goldwasser, 37
Chief Exec. Officer, Pres
Dr. Peter G. Schultz Ph.D., 51
Co-Founder and Advisor
Dr. W. Henry Weinberg Ph.D., 63
Chief Scientific Officer and Exec. VP
Ms. Jeryl L. Hilleman, 50
Estimated Market Cap
211,189,617 as of Mar 7, 2008
33,469,036 as of Oct 31, 2007
Number of Share Holders of Record
110 as of Feb 27, 2007
Wells Fargo Shareholder Services (Minneapolis, MN),
A Division of Wells Fargo Bank
161 N. Concord Exchange
P.O. Box 738
South St. Paul, MN 55101
CIK - 0001095330
Isy Goldwasser, Symyx chief executive officer, stated, "Outsourcing, globalization, regulation and changing product economics are challenging R&D organizations in our target markets to deliver results more efficiently and quickly than ever before. In 2007, Symyx significantly strengthened its product portfolios, sales and support organizations and management team to help our customers in these markets successfully address these challenges.
"With the important changes of 2007 in place, including our fourth quarter acquisition of MDL Information Systems, our focus for 2008 is on execution, driving better results and continued improvements in operating discipline in Symyx Software, Symyx Tools and Symyx Research," concluded Mr. Goldwasser.
"During the fourth quarter, we turned in a solid quarter for our historical Symyx business lines, realized more MDL revenue than forecasted, and generated stronger software consulting revenue than expected," added Rex S. Jackson, Symyx chief financial officer. "Earnings benefited from higher revenues, lower than expected restructuring expenses, lower than expected amortization of acquisition-related intangibles, favorable product mix and continuing expense management. We were also pleased with our cash management during the quarter, exiting with $45.5 million in cash, cash equivalents and available-for-sale securities."
Fourth Quarter 2007 Financial Results
For the fourth quarter of 2007, Symyx reported revenue of $48.5 million. Fourth quarter revenue by type was $18.4 million in service revenue primarily from research collaborations and software consulting services, $18.2 million in product revenue from Symyx Tools sales, $11.9 million in license fees, content revenue and royalties...
Symyx reiterated its full year 2008 revenue range of $165-175 million.
Symyx' revenue outlook is supported by ongoing commitments to R&D investments by leading technology customers such as Borealis, The Dow Chemical Company, Eli Lilly & Company and ExxonMobil. Recently, Symyx executed extensions of existing agreements with both Dow and ExxonMobil. Symyx currently forecasts revenue from each of Dow and ExxonMobil of approximately $25-$27 million in 2008, for a total of $50-$54 million and in line with previous guidance. For 2009, Symyx is currently forecasting $21-$25 million from Dow and approximately $16-$19 million from ExxonMobil.
The Company expects full year 2008 net loss per share to be in the range of $(0.34)-$(0.28). This estimate does not include the approximately $0.13 per share that would be attributable to the $7 million of MDL's 2008 deferred revenue that the Company cannot recognize under GAAP, but includes amortization expenses of approximately $13 million, or approximately $0.23 per share, for certain intangibles related to the Company's acquisitions, and approximately $5.3 million, or $0.10 per share, in non-cash stock-based compensation expenses.
For the first quarter of 2008, Symyx forecasts revenue of $34-$38 million, and a GAAP loss per share of ($0.24)-($0.18). Symyx' first quarter range does not include the approximately $0.07 per share that would be attributable to the approximately $4 million of deferred MDL revenue that the Company cannot recognize under GAAP in the first quarter, and includes approximately $3.2 million, or $0.06 per share of amortization of acquisition-related intangibles, and approximately $1.5 million, or $0.03 per share, in non-cash stock-based compensation expenses..."