Accuray swings to profit in fiscal 3rd quarter as sales grow

SUNNYVALE, Calif.—Accuray Inc., which makes robotic radio surgery devices, on Tuesday reported it swung to a profit in its fiscal third quarter as sales increased 57 percent.

For the quarter ended March 29, income was $584,000, or a penny per share, compared with a loss of $785,000, or 2 cents per share, in the year-ago period.

The latest quarter included 7 cents per share in charges for stock-based compensation, Accuray said.

Revenue rose to $58.8 million from $37.3 million.

Analysts polled by Thomson Financial expected income of 5 cents per share on revenue of $58.6 million. Analyst estimates typically exclude special items.

Accuray said its backlog was about $602 million as of March 29. Contractual contingencies have been satisfied on 64 percent of them, the company said.

Accuray also reaffirmed its outlook for full-year revenue between $210 million and $230 million. Analysts expect $219.5 million in revenue.

Shares of Accuray fell 84 cents, or 10.4 percent, to $7.25 in aftermarket activity. Earlier, they fell 8 cents to close regular trading at $8.09. They have ranged from $6.86 to $27.58 over the past year.