Wednesday, August 28, 2013 10:43:38 AM
Accuray rises after company says radiation therapy system orders got better in 4th quarter
Associated PressAssociated Press – 1 hour 15 minutes ago
NEW YORK (AP) -- Shares of Accuray climbed in premarket trading Wednesday after the radiation-treatment equipment maker said new orders are improving.
Accuray reported its fiscal fourth-quarter results after the market closed on Tuesday. Its loss narrowed from a year ago despite a decline in revenue. Net new product orders rose 32 percent from last year, and the company said its backlog has grown over the last three months and is larger than it was a year ago.
Accuray shares picked up 50 cents, or 8.2 percent, to $6.60 in premarket trading.
The Sunnyvale, Calif., company sells radiation therapy systems under the names CyberKnife and TomoTherapy. Accuray said it took a loss of $18.7 million, or 25 cents per share, over the three months ended June 30. Accuray Inc. took a loss of $20.3 million, or 28 cents per share, a year earlier.
If one-time items are excluded the company said it lost 20 cents per share in the fourth quarters of fiscal 2013 and 2012. Revenue fell 16 percent, to $84.9 million from $100.5 million.
Analysts were expecting a loss of 20 cents per share on $84.3 million in revenue, according to FactSet.
Jefferies & Co. analyst Raj Denhoy said Accuray is moving in the right direction because orders are increasing and the company is getting better at keeping its costs under control. He kept a "Buy" rating on the stock and raised his price target to $8 per share from $6.50.
Accuray said it lost $103.2 million, or $1.41 per share, in fiscal 2013 after losing $72 million, or $1.02 per share, the year before. Revenue fell 23 percent, to $316 million from $409.2 million.
The company expects to report $325 million to $345 million in revenue in fiscal 2014. Analysts estimate $359.6 million on average.
Recent ARAY News
- Accuray Reports Fiscal 2024 Third Quarter Financial Results • PR Newswire (US) • 05/01/2024 08:06:00 PM
- Accuray Showcases Advances in Radiation Therapy Solutions Designed to Improve the Cancer Treatment Experience at ESTRO 2024 • PR Newswire (US) • 04/25/2024 11:35:00 AM
- Accuray Expands Global Training Center Network With Opening of New Facility in Genolier, Switzerland • PR Newswire (US) • 04/18/2024 11:35:00 AM
- Accuray to Report Third Quarter Fiscal 2024 Financial Results on May 1, 2024 • PR Newswire (US) • 04/17/2024 08:05:00 PM
- New Data from Two Clinical Studies Indicate High-Risk and Recurrent Prostate Cancers Can be Effectively Treated in 5 Days Using the Accuray CyberKnife® System • PR Newswire (US) • 03/26/2024 11:35:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 09:15:22 PM
- Accuray Incorporated to Speak at 36th Annual Roth Conference • PR Newswire (US) • 03/04/2024 09:30:00 PM
- Accuray Incorporated to Speak at Oppenheimer 34th Annual Healthcare MedTech & Services Conference • PR Newswire (US) • 02/27/2024 10:30:00 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/13/2024 04:19:22 PM
- Quebec Cancer Center is First in Canada to Treat Cancer Patients Using the Accuray Radixact® System • PR Newswire (US) • 02/13/2024 12:35:00 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/12/2024 08:01:38 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 02/07/2024 09:15:46 PM
- Accuray to Participate in the BTIG MedTech, Digital Health, Life Science & Diagnostic Tools Conference • PR Newswire (US) • 02/05/2024 10:30:00 PM
- Accuray Reports Fiscal 2024 Second Quarter Financial Results • PR Newswire (US) • 01/31/2024 09:06:00 PM
- Providence Swedish Radiosurgery Center in Seattle Invests in Second Accuray CyberKnife® System, a Robotic Delivery Device That Makes Extremely Precise Radiation Treatments Possible in 1-5 Sessions • PR Newswire (US) • 01/25/2024 12:35:00 PM
- Accuray to Report Second Quarter Fiscal 2024 Financial Results on January 31, 2024 • PR Newswire (US) • 01/16/2024 10:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/05/2024 09:15:16 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/05/2024 09:15:14 PM
- Accuray Initiates Sales of the VitalHold™ Solution in Japan, Supporting Surface-guided Radiation Therapy on the Radixact® System • PR Newswire (US) • 12/05/2023 12:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/05/2023 01:51:44 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/05/2023 01:50:50 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/05/2023 01:50:47 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/05/2023 01:50:44 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/05/2023 01:50:41 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 12/05/2023 01:50:37 AM
FEATURED Cannabix Technologies Launches New Compact Breath Logix Workplace Series and Prepares for Delivery to South Africa • May 7, 2024 8:51 AM
Moon Equity Holdings, Corp. Announces Acquisition of Wikolo, Inc. • MONI • May 7, 2024 9:48 AM
NanoViricides Reports that the Phase I NV-387 Clinical Trial is Completed Successfully and Data Lock is Expected Soon • NNVC • May 2, 2024 10:07 AM
ILUS Files Form 10-K and Provides Shareholder Update • ILUS • May 2, 2024 8:52 AM
Avant Technologies Names New CEO Following Acquisition of Healthcare Technology and Data Integration Firm • AVAI • May 2, 2024 8:00 AM
Bantec Engaged in a Letter of Intent to Acquire a Small New Jersey Based Manufacturing Company • BANT • May 1, 2024 10:00 AM