TomoTherapy posts strong Q4

Feb 13, 2008

Record sales boosted radiation therapy firm TomoTherapy to a 32% revenue gain in its fourth quarter.

For the period (end-December 31), the Madison, WI-based vendor had revenue of $78.7 million, up from the $59.6 million turned in during the fourth quarter of 2006. The company had fourth-quarter net income of $4.8 million, compared with pro forma net income of $8.9 million in the fourth quarter of 2006.

New sales orders reached a record $92 million in the quarter, up 25% from the fourth quarter of 2006. The company said it had a record revenue backlog of $248 million as of December 31, up 51% from the backlog at the end of 2006.

For the year, TomoTherapy had revenue of $232.8 million, up 49% compared with the $156.1 million posted in 2006. The firm's net loss climbed to $226.9 million, however, up from a net loss of $33.5 million in 2006. The results include the accretion of redeemable convertible preferred stock of $237.6 million in 2007 and $46.3 million in 2006.

In 2008, TomoTherapy said it expects revenue to range between $290 million to $310 million, with net income per share in the range of 34¢ to 39¢ per diluted share.

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