Accuray Incorporated Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended December 31, 2017; Reaffirms Earnings Guidance for the Full Year Ending June 30, 2018
January 23, 2018 at 04:01 pm
Share
Accuray Incorporated announced unaudited consolidated earnings results for the second quarter and six months ended December 31, 2017. For the quarter, the company reported total net revenue was $100,329,000 against $87,502,000 a year ago. Loss from operations was $1,017,000 against $4,823,000 a year ago. Loss before provision for loss taxes was $4,755,000 against $8,943,000 a year ago. Net loss was $4,719,000 against $9,369,000 a year ago. Basic and diluted loss per share was $0.06 against $0.11 a year ago. Adjusted EBITDA was $4,754,000 compared to $1,768,000 a year ago.
For the six months, the company reported total net revenue was $191,279,000 against $174,008,000 a year ago. Loss from operations was $3,069,000 against $11,370,000 a year ago. Loss before provision for loss taxes was $13,378,000 against $19,495,000 a year ago. Net loss was $14,101,000 against $19,295,000 a year ago. Basic and diluted loss per share was $0.17 against $0.24 a year ago. Adjusted EBITDA was $7,897,000 compared to $2,936,000 a year ago.
The company is reaffirming the revenue, gross orders, and adjusted EBITDA, guidance for the full year ending June 30, 2018 originally provided on August 22, 2017 as follows: Revenue of $390.0 million to $400.0 million representing growth of approximately 2% to 4% year-over-year with product revenue growing approximately 5% to 10% year-over-year; The company expects Adjusted EBITDA of $25.0 million to $30.0 million representing growth of approximately 23% to 47% year-over-year. The company expects GAAP net loss in the range of $19.2 million to $14.2 million.
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 the Second Quarter and Six Months Ended December 31, 2017; Reaffirms Earnings Guidance for the Full Year Ending June 30, 2018