Accuray Inc (ARAY)

[mlkrborn]

Accuray records 2Q profit, shares jump; over $9.00 almost 52 weeks high level on earnings report!
Accuray records unexpected 2nd-quarter profit on lower costs, shares surge
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ARAY 9.24 +2.38
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On Friday January 28, 2011, 1:12 pm EST

SUNNYVALE, Calif. (AP) -- Medical radiation equipment maker Accuray Inc. on Friday recorded a fiscal 2011 second-quarter profit on lower costs and reported a strong backlog of orders.

The profit was not expected by Wall Street and shares of Accuray rose $1.98, or 29 percent, to $8.84 in afternoon trading. The stock earlier reached a 52-week high of $8.95.

Accuray makes the CyberKnife Robotic Radiosurgery System, which it describes as the world's only robotic radiosurgery system designed to treat tumors anywhere in the body non-invasively.

It said its total backlog of orders for systems and services rose 26 percent to $410 million at the end of the latest quarter from the year-ago period.

The company earned just under $4.1 million, or 7 cents per share, compared with a loss of $1.2 million, or 2 cents per share, during the same period a year prior. Revenue fell 5 percent to $54.2 million from $57.3 million. The quarter ended on Dec. 31.