SMMX » Topics » Research and Development Expenses (R&D Expenses)

This excerpt taken from the SMMX 10-Q filed Aug 7, 2007.

Research and Development Expenses (“R&D Expenses”)

Our R&D expenses consist primarily of:

·                  salaries and other personnel-related expenses;

·                  facility costs;

·                  supplies; and

·                  depreciation of facilities and laboratory equipment.

Total R&D expenses for the three months ended June 30, 2007 were $16.2 million, a decrease of approximately 3% from the same period in 2006. The decrease was primarily due to lower stock-based compensation expenses in 2007. Total R&D expenses for the six months ended June 30, 2007 were $33.2 million, an increase of approximately 5% from the same period in 2006. The increase was primarily due to the increase in salaries and other personnel-related expenses for additional headcount added and the increase in depreciation expenses associated with new facilities added to meet the needs of our business, partially offset by a lower charge for stock-based compensation expenses in 2007.

R&D expenses represented 64% and 59% of total revenue in the three months ended June 30, 2007 and 2006, respectively. R&D expenses represented 66% and 57% of total revenue in the six months ended June 30, 2007 and 2006, respectively. Our laboratories yield a stream of new technologies and advances in materials science that support our research services, Symyx Tools, Symyx Software, intellectual property and materials discovered in our collaborative and internal research programs. We believe continued investment across our business segments is necessary for long-term success. Accordingly, we expect to continue to devote significant resources to R&D.

The table below indicates the major collaborative partners, defined as those contributing greater than 10% of collaborative research revenue in the first six months of 2007, for whom we conducted research and development, together with the date upon which the current contract ends and the primary focus of the collaborations. Contracts may only be extended by mutual agreement between us and the collaborative partner.

 

20




 

Partner

 

Current Research
Contract Ends

 


Primary focus of current collaborative efforts

Dow

 

12/31/2009

 

Catalysts for certain commodity chemicals

ExxonMobil

 

5/31/2008

 

Catalysts for certain commodity chemicals including olefins

 

This excerpt taken from the SMMX 10-Q filed May 7, 2007.

Research and Development Expenses

Our R&D expenses consist primarily of:

·                  salaries and other personnel-related expenses;

·                  facility costs;

·                  supplies; and

·                  depreciation of facilities and laboratory equipment.

Total R&D expenses for the three months ended March 31, 2007 were $17.0 million, an increase of approximately 15% from the same period in 2006. The increase was primarily due to the increase in salaries and other personnel-related expenses for the additional 14% headcount added and the increase in depreciation expenses associated with new facilities added to meet the needs of our business.

R&D expenses represented 68% and 55% of total revenue in the three months ended March 31, 2007 and 2006, respectively. Our labs yield a stream of innovative new technologies and breakthrough advances in materials science that support our research services, Symyx Tools, Symyx Software, intellectual property and materials discovered in our collaborative and internal research programs. We believe our market opportunity is significant and

25




that continued investment across our business segments is necessary for long-term success. Accordingly, we expect to continue to devote significant resources to R&D.

The table below indicates the major collaborative partners, defined as those contributing greater than 10% of collaborative research revenue in the first three months of 2007, for whom we conducted research and development, together with the date upon which the current contract ends and the primary focus of the collaborations. Contracts may only be extended by mutual agreement between us and the collaborative partner.

Partner

 

Current Research
Contract Ends

 

Primary focus of current collaborative efforts

Dow

 

12/31/2009

 

Catalysts for certain commodity chemicals

ExxonMobil

 

5/31/2008

 

Catalysts for certain commodity chemicals including olefins

 

This excerpt taken from the SMMX 10-Q filed Nov 7, 2006.

Research and Development Expenses

Our research and development expenses consist primarily of:

·  salaries and other personnel-related expenses (including stock-based compensation costs);

·  facility costs;

·  supplies; and

·  depreciation of facilities and laboratory equipment.

Total research and development expenses for the three and nine months ended September 30, 2006 were $15.7 million and $47.2 million, respectively, an increase of approximately 21% and 28% from the respective periods in 2005. The increases were primarily due to the increase in salaries and other personnel-related expenses for the additional headcount added to meet the needs of our expanded business and the recognition of stock-based compensation expense of $1.3 million and $3.5 million, respectively, for the three and nine months ended September 30, 2006.

Research and development expenses represented 53% and 41% of total revenue in the three months ended September 30, 2006 and 2005, respectively. Research and development expenses represented 56% and 48% of total revenue in the nine months ended September 30, 2006 and 2005, respectively. The increase in research and development expense as a percentage of total revenue in 2006 was primarily due to the recognition of stock-based compensation expense as a result of adopting SFAS 123R in 2006.

Our core offerings include both collaborative and internal research to discover new materials, the sale and support of laboratory systems, and the licensing of electronic notebook and lab execution and analysis software. Accordingly, we expect to continue to devote substantial resources to research and development.

The table below indicates the major collaborative partners, defined as those contributing greater than 10% of collaborative research revenue in the first nine months of 2006, for whom we conducted research and development, together with the date upon which the current contract ends and the primary focus of the collaborations. Contracts may only be extended by mutual agreement between us and the collaborative partner.

Partner

 

Current Research
Contract Ends

 

Primary focus of current collaborative efforts

 

 

 

 

 

The Dow Chemical Company

 

12/31/2009

 

Polyolefin catalysts for certain commodity chemicals

ExxonMobil

 

5/31/2008

 

Catalysts for certain commodity chemicals including olefins

 

This excerpt taken from the SMMX 10-Q filed Aug 4, 2006.

Research and Development Expenses

Our research and development expenses consist primarily of:

·      salaries and other personnel-related expenses;

·      facility costs;

·      supplies; and

·      depreciation of facilities and laboratory equipment.

Total research and development expenses for the three and six months ended June 30, 2006 were $16.7 million and $31.5 million, respectively, an increase of approximately 33% and 31% from the respective periods in 2005. The increases were primarily due to the increase in salaries and other personnel-related expenses for the additional headcount added to meet the needs of our expanded business and the recognition of stock-based compensation expense in 2006.

Research and development expenses represented 59% and 52% of total revenue in the three months ended June 30, 2006 and 2005, respectively. Research and development expenses represented 57% and 53% of total revenue in the six months ended June 30, 2006 and 2005, respectively. The increase in research and development expense as a percentage of total revenue in 2006 was primarily due to the recognition of stock-based compensation expense as a result of adopting SFAS 123R in 2006.

Our core offerings include both collaborative and internal research to discover new materials, the sale and support of laboratory systems, and the licensing of electronic notebook and lab execution and analysis software. Accordingly, we expect to continue to devote substantial resources to research and development.

The table below indicates the major collaborative partners, defined as those contributing greater than 10% of collaborative research revenue in the first six months of 2006, for whom we conducted research and development, together with the date upon which the current contract ends and the primary focus of the collaborations. Contracts may only be extended by mutual agreement between us and the collaborative partner.

Partner

 

Current Research
Contract Ends

 

 

Primary focus of current collaborative efforts

 

 

 

 

 

Dow

 

12/31/2009

 

Polyolefin catalysts for certain commodity chemicals

ExxonMobil

 

5/31/2008

 

Catalysts for certain commodity chemicals including olefins

 

This excerpt taken from the SMMX 10-Q filed May 5, 2006.

Research and Development Expenses

 

Our research and development expenses consist primarily of:

 

    salaries and other personnel-related expenses;

 

    facility costs;

 

    supplies; and

 

    depreciation of facilities and laboratory equipment.

 

Total research and development expenses for the three months ended March 31, 2006 were $14.8 million, an increase of approximately 29% from the same period in 2005. The increase was primarily due to the increase in salaries and other personnel-related expenses for the additional headcount added to meet the needs of our expanded business and the recognition of stock-based compensation expense.

 

Research and development expenses represented 55% and 53% of total revenue in the three months ended March 31, 2006 and 2005, respectively. Our core offerings are research to discover new materials, the sale of laboratory systems and licensing of related software and licensing of sensors technology and intellectual property and materials discovered in our collaborative and internal research programs. Accordingly, we expect to continue to devote substantial resources to research and development.

 

The table below indicates the major collaborative partners, defined as those contributing greater than 10% of collaborative research revenue in the first three months of 2006, for whom we conducted research and development, together with the date upon which the current contract ends and the primary focus of the collaborations. Contracts may only be extended by mutual agreement between us and the collaborative partner.

 

Partner

 

Current Research
Contract Ends

 

Primary focus of current collaborative efforts

 

 

 

 

 

Dow

 

12/31/2009

 

Polyolefin catalysts for certain commodity chemicals

ExxonMobil

 

5/31/2008

 

Catalysts for certain commodity chemicals including olefins

 

This excerpt taken from the SMMX 10-Q filed Nov 4, 2005.

Research and Development Expenses

 

Our research and development expenses consist primarily of:

      salaries and other personnel-related expenses;

      facility costs;

      supplies; and

      depreciation of facilities and laboratory equipment.

 

23



 

Total research and development expenses for the three months ended September 30, 2005 were $12.9 million, an increase of approximately 31% from the same period in 2004. Total research and development expenses for the nine months ended September 30, 2005 were $36.9 million, an increase of approximately 19% from the same period in 2004. The increase was primarily due to the increase in salaries, scientific supplies and other personnel-related expenses for the additional headcount added through the acquisitions of IntelliChem, Inc. and Synthematix, Inc., and additional headcount added to meet our contractual obligations under our alliance agreement with The Dow Chemical Company.

 

Research and development expenses represented 41% and 50% of total revenue in the three months ended September 30, 2005 and 2004, respectively. Research and development expenses represented 48% and 54% of total revenue in the nine months ended September 30, 2005 and 2004, respectively. Our core offerings are research to discover new materials, the sale of instruments and licensing of related software and licensing of intellectual property and materials discovered in our collaborative and internal research programs. Accordingly, we expect to continue to devote substantial resources to research and development.

 

The table below indicates the major collaborative partners, defined as those contributing greater than 10% of collaborative research revenue in the three and nine months ended September 30, 2005, for whom we conducted research and development, together with the date upon which the current contract ends and the primary focus of the collaborations. Contracts may only be extended by mutual agreement between us and the collaborative partner.

 

 

 

Current

 

 

 

 

 

Research

 

 

 

Partner

 

Contract Ends

 

Primary focus of current collaborative efforts

 

The Dow Chemical Company

 

12/31/2009

 

Polyolefin catalysts for certain commodity chemicals

 

ExxonMobil

 

5/31/2008

 

Catalysts for certain commodity chemicals including olefins

 

 

We do not track fully burdened research and development costs or capital expenditures by project. However, we estimate, based on hours spent on each project, that approximately 73% of research and development efforts in the first nine months of 2005 was undertaken for collaborative projects funded by our partners, approximately 5% of research and development efforts was for our own internally funded research, approximately 21% of research and development efforts was for our internal software development, and approximately 1% of research and development efforts was related to internal development of our Discovery Tools. Due to the nature of our research and our dependence on our collaborative partners to commercialize the results of the research, we cannot predict with any certainty whether any particular collaboration or research effort will ultimately result in a commercial product and therefore whether we will achieve future milestones or royalty payments under our various collaborations.

 

This excerpt taken from the SMMX 10-Q filed Aug 4, 2005.

Research and Development Expenses

 

Our research and development expenses consist primarily of:

 

                       salaries and other personnel-related expenses;

 

                       facility costs;

 

                       supplies; and

 

                       depreciation of facilities and laboratory equipment.

 

Total research and development expenses for the three months ended June 30, 2005 were $12.5 million, an increase of approximately 20% from the same period in 2004. Total research and development expenses for the six months ended June 30, 2005 were $24.0 million, an increase of approximately 13% from the same period in 2004. The increase was primarily due to the increase of salaries and other personnel-related expenses for the additional headcount added through the acquisition of Symyx IntelliChem, Inc. and Synthematix, Inc., and additional headcount added to meet our contractual obligations under our alliance agreement with The Dow Chemical Company.

 

Research and development expenses represented 52% and 55% of total revenue in the three months ended June 30, 2005 and 2004, respectively. Research and development expenses represented 53% and 55% of total revenue in the six months ended June 30, 2005 and 2004, respectively. Our core offerings are research to discover new materials, the sale of instruments and licensing of related software and licensing of intellectual property and materials discovered in our collaborative and internal research programs. Accordingly, we expect to continue to devote substantial resources to research and development.

 

25



 

The table below indicates the major collaborative partners, defined as those contributing greater than 10% of collaborative research revenue in the three and six months ended June 30, 2005, for whom we conducted research and development, together with the date upon which the current contract ends and the primary focus of the collaborations. Contracts may only be extended by mutual agreement between us and the collaborative partner.

 

Partner

 

Current Research
Contract Ends

 

Primary focus of current collaborative efforts

 

 

 

 

 

Dow

 

12/31/2009

 

Polyolefin catalysts for certain commodity chemicals

ExxonMobil

 

5/31/2008

 

Catalysts for certain commodity chemicals including olefins

 

We do not track fully burdened research and development costs or capital expenditures by project. However, we estimate, based on Full Time Equivalent (“FTE”) effort, that approximately 91% of research and development efforts in the first six months of 2005 were undertaken for collaborative projects funded by our partners, approximately 4% of research and development efforts were for our own internally funded research and approximately 5% of research and development efforts were related to our Discovery Tools business.  Due to the nature of our research and our dependence on our collaborative partners to commercialize the results of the research, we cannot predict with any certainty whether any particular collaboration or research effort will ultimately result in a commercial product and therefore whether we will achieve future milestones or royalty payments under our various collaborations.

 

This excerpt taken from the SMMX 10-Q filed May 3, 2005.

Research and Development Expenses

 

Our research and development expenses consist primarily of:

 

    salaries and other personnel-related expenses;

 

    facility costs;

 

    supplies; and

 

    depreciation of facilities and laboratory equipment.

 

Total research and development expenses for the three months ended March 31, 2005 were $11.4 million, an increase of approximately 6% from the same period in 2004. The increase was primarily due to the increase of salaries and other personnel-related expenses for the additional headcount added through the acquisition of IntelliChem and additional headcount added to meet our contractual obligations under our alliance agreement with The Dow Chemical Company.

 

Research and development expenses represented 53% and 56% of total revenue in the three months ended March 31, 2005 and 2004, respectively. Our core offerings are research to discover new materials, the sale of instruments and licensing of related software and licensing of intellectual property and materials discovered in our collaborative and internal research programs. Accordingly, we expect to continue to devote substantial resources to research and development.

 

The table below indicates the major collaborative partners, defined as those contributing greater than 10% of collaborative research revenue in the first three months of 2005, for whom we conducted research and development, together with the date upon which the current contract ends and the primary focus of the collaborations. Contracts may only be extended by mutual agreement between us and the collaborative partner.

 

22



 

Partner

 

Current Research
Contract Ends

 

Primary focus of current collaborative efforts

 

 

 

 

 

BP

 

12/31/2005

 

Catalysts for certain commodity chemicals

Dow

 

12/31/2009

 

Polyolefin catalysts for certain commodity chemicals

ExxonMobil

 

5/31/2008

 

Catalysts for certain commodity chemicals including olefins

 

We do not track fully burdened research and development costs or capital expenditures by project. However, we estimate, based on Full Time Equivalent (“FTE”) effort, that approximately 91% of research and development efforts in the first three months of 2005 were undertaken for collaborative projects funded by our partners, approximately 4% of research and development efforts were for our own internally funded research and approximately 5% of research and development efforts were related to our Discovery Tools business.  Due to the nature of our research and our dependence on our collaborative partners to commercialize the results of the research, we cannot predict with any certainty whether any particular collaboration or research effort will ultimately result in a commercial product and therefore whether we will achieve future milestones or royalty payments under our various collaborations.

 

This excerpt taken from the SMMX 10-K filed Mar 8, 2005.

    Research and Development Expenses

        Our research and development expenses consist primarily of salaries and other personnel-related expenses, facility costs, supplies, and depreciation of facilities and laboratory equipment.

        Approximately 65% of research and development effort in 2003 was undertaken for collaborative projects funded by our partners, and approximately 35% of research effort was on internally funded research including development costs related to our Discovery Tools business. This compares with approximately 63% of research and development effort undertaken for collaborative projects funded by our partners, and approximately 37% of research effort on internally funded research including development costs related to our Discovery Tools business during 2002.

        Research and development expenses in 2003 were $40.1 million, including $1.7 million of direct costs of research services provided to a related party, compared with $39.3 million in 2002, an increase of $0.8 million or 2%. The increase in 2003 was due primarily to increases in salary related expenses due to the hiring of additional scientific and technical staff to work on research and development projects for ExxonMobil and our related party, Ilypsa.

        Research and development expenses represented 64% of total revenues in 2003 and 61% of total revenues in 2002.

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