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Accuray Announces Results for First Quarter of Fiscal 2011

Mon, 11/08/2010 - 1:38pm
Bio-Medicine.Org

SUNNYVALE, Calif., Nov. 8, 2010 /PRNewswire-FirstCall/ -- Accuray Incorporated (Nasdaq: ARAY), a global leader in the field of radiosurgery, announced today financial results for the first quarter of fiscal year 2011, ended September 30, 2010.

For the first quarter of fiscal 2011, Accuray reported total revenue of $38.1 million, a decrease over the first quarter of fiscal 2010 total revenue of $50.6 million.

Net loss for the first quarter of fiscal 2011 was $4.6 million, or $0.08 per share, compared to net loss of $3.3 million, or $0.06 per share, during the same period last year.

During the first quarter of fiscal 2011, seven orders for CyberKnife® Robotic Radiosurgery Systems were added to company backlog, with a total value of $33.8 million.  In addition, new service and other ancillary orders with a value of $16.8 million were signed.  During the first quarter, one order was canceled by a customer and removed from backlog.

Total backlog for the end of the first quarter of fiscal 2011 was $381 million, with approximately $136 million associated with CyberKnife System contracts and approximately $245 million associated with services and other recurring revenue.  

In the first quarter of fiscal 2011, nine new CyberKnife Systems were installed, increasing the worldwide CyberKnife installation base to 216.

”Our first quarter results were consistent with the guidance provided and reflective of the seasonality of our business in orders, shipments and revenue,” said Euan Thomson, president and chief executive officer of Accuray Incorporated.  “We are confident that the continued strong book-to-bill ratio of the past four quarters is a positive indicator of future revenue growth and should be reflected in significantly stronger revenue during the second half of the current year.”

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