Accuray Incorporated Announces Unaudited Consolidated Earnings Results for Second Quarter and Six Months Ended December 31, 2013; Provides Revised Earnings Guidance for Fiscal Year 2014
January 31, 2014 at 02:31 am IST
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Accuray Incorporated announced unaudited consolidated earnings results for second quarter and six months ended December 31, 2013. For the quarter, the company's total net revenue was $93.6 million compared with $77.8 million a year ago. Loss from operations was $0.72 million compared with $22.3 million a year ago. Loss before provision for income taxes was $4.5 million compared with $24.8 million a year ago. Loss from continuing operations was $5.4 million or $0.07 per basic and diluted share compared with $25.5 million or $0.35 per basic and diluted share a year ago. Net loss attributable to stockholders was $5.4 million or $0.07 per basic and diluted share compared with $29.2 million or $0.40 per basic and diluted share a year ago. Adjusted EBITDA was $6.8 million compared with loss of $18.1 million a year ago.
For the six months, the company's total net revenue was $170.3 million compared with $160.5 million a year ago. Loss from operations was $13.0 million compared with $42.9 million a year ago. Loss before provision for income taxes was $19.2 million compared with $46.2 million a year ago. Loss from continuing operations was $20.97 million or $0.28 per basic and diluted share compared with $47.4 million or $0.65 per basic and diluted share a year ago. Net loss attributable to stockholders was $20.97 million or $0.28 per basic and diluted share compared with $53.3 million or $0.74 per basic and diluted share a year ago. Adjusted EBITDA was $2.97 million compared with loss of $29.97 million a year ago.
The company updated its financial guidance of total revenue for fiscal 2014 to a range of $340 million to $350 million. This compares to the previous financial guidance of total revenue in the range of $325 million to $345 million which was provided on August 27, 2013 and reaffirmed on November 7, 2013.
Accuray Incorporated is a radiation therapy company. The Company develops, manufactures, sells, and supports solutions that are designed to deliver radiation treatments. Its solutions are designed to advance patient care during each individual treatment, throughout the treatment process, and at each stage of the cancer treatment journey, from curative to palliative treatments. Its technologies, the CyberKnife and TomoTherapy platforms, including the Radixact System, its TomoTherapy platform, are designed to deliver advanced treatments, including stereotactic radiosurgery (SRS), stereotactic body radiation therapy (SBRT), intensity modulated radiation therapy (IMRT), image-guided radiation therapy (IGRT), and adaptive radiation therapy (ART). In addition to these products, the Company also provides services, which include post-contract customer support (warranty period services and post warranty services), installation services, training, and other professional services.
Accuray Incorporated Announces Unaudited Consolidated Earnings Results for Second Quarter and Six Months Ended December 31, 2013; Provides Revised Earnings Guidance for Fiscal Year 2014