Combinatorial technology company Symyx Technologies reports today that revenue for 2002 had increased to $64.8 million (€59m) compared with $60.0 million in 2001.
Revenue for 2002 included $35.4 million, or 55 per cent, in industry collaborations service revenue, $25.9 million - or 40 per cent - in Discovery Tools product sales and $3.5 million, or 5 per cent, in royalties and license fees from the license of materials and intellectual property.
Operating Income for 2002 was $4.7 million, more than double the 2001 operating income of $2.2 million. Diluted earnings per share for 2002 were $0.17 compared with $0.20 in 2001, due to declining interest rates and a higher effective income tax rate in 2002.
Symyx currently has 23 discovered materials, including two commercialised materials, 13 development candidates and eight emerging development candidates. The company's intellectual property portfolio has grown to include over 90 issued patents and more than 390 patent applications on file worldwide, covering methodology, composition of matter, instrumentation and software.
The company is expecting to generate $75-85 million in total revenue in 2003 - an increase over the $64.8 million achieved in 2002 - and to essentially double operating income from $4.7 million in 2002 to at least $9 million in 2003.