Accuray publishes earnings for Q3, updates status of Radixact Treatment Delivery System
Radiation oncology company Accuray has announced its earnings for the third quarter of the 2015/2016 fiscal year, including total revenue of $105.3 million, up 8 percent year-over-year, and a net income of $0.8 million.
Other statistics from the third quarter included gross orders of $56.4 million, up 9 percent year-over-year, and net orders of $57.6 million, up 60 percent year-over-year.
“In the third quarter we exceeded our expectations for gross margins, operating profits, net income and adjusted EBITDA,” Joshua H. Levine, Accuray president and CEO, said in a prepared statement. “While the third quarter gross orders were below expectations, we grew our overall backlog, which is what fuels our future revenue growth, and were up seven percent from a year ago.”
Levine also took the opportunity to announce that Accuray submitted a 510(k) premarket notification for its Radixact Treatment Delivery System.
“The Radixact System, with its unique architecture, is intended to strengthen our sales funnel by providing expanded clinical options for clinicians and innovative treatment opportunities for their patients,” Levine said in the statement.
Michael has more than 18 years of experience as a professional writer and editor. He has written at length about cardiology, radiology, artificial intelligence and other key healthcare topics.