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Accuray Announces Results for Third Quarter of Fiscal 2011

Fri, 05/06/2011 - 2:33am
Bio-Medicine.Org

SUNNYVALE, Calif., May 5, 2011 /PRNewswire/ -- Accuray Incorporated (Nasdaq: ARAY), a global leader in the field of radiosurgery, announced today financial results for the third quarter of fiscal year 2011, ended March 31, 2011.

For the third quarter of fiscal 2011, Accuray reported total revenue of $54.7 million, an increase of five percent from total revenue of $51.9 million during the third quarter of fiscal 2010. Total revenue during the third quarter of fiscal 2011 included $0.2 million of previously deferred revenue for systems sold with legacy Platinum service agreements, compared to $2.1 million in the third quarter of fiscal 2010.

Net loss for the third quarter of fiscal 2011 was $1.2 million, or $0.02 per share, compared to net income of $2.3 million, or $0.04 per share, during the same period last year. The net loss was attributable to approximately $2.6 million in costs associated with the pending acquisition of TomoTherapy.

Orders to backlog totaled $58.5 million during the third quarter: $43.2 million for systems and $15.3 million for service. System backlog totaled $158.5 million at the end of the third quarter, comparable to the previous quarter and a 27 percent increase from the same quarter last year. Service backlog totaled $243.5 million at the end of the third quarter, comparable to the previous quarter and an 18 percent increase from the same quarter last year. Total backlog was $413.4 million at the end of the third quarter, comparable and up 18 percent, respectively, from the prior quarter and the third quarter last year.

During the third quarter, 13 orders for CyberKnife® Robotic Radiosurgery Systems were added to backlog, two orders were cancelled by customers, and one order aged beyond two and a half years and is no longer reported in backlog.

During the third quarter, 13 CyberKnife Systems were shipped and four wer

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