Advertisement

Shares of medical radiation equipment maker Accuray Inc. fell Tuesday after the company said it fiscal 2011 first-quarter loss widened on a drop in revenue.

The stock fell 62 cents, or 9.2 percent, to $6.15 in afternoon trading Tuesday. Shares have traded between $4.93 and $7.75 over the last 52 weeks.

On Monday, the company reported a loss of $4.6 million, or 8 cents per share, compared with a loss of $3.3 million, or 6 cents per share, during the same period a year prior. Revenue fell 25 percent to $38.1 million from $50.6 million.

Analysts polled by Thomson Reuters had expected a loss of 6 cents per share on revenue of $39 million.

Looking ahead, the company reaffirmed its outlook for revenue between $210 million and $225 million in fiscal 2011. Analysts expect $219.8 million in revenue.

Advertisement
Advertisement