Despite an increase in new orders and installation of the first of its new CyberKnife M6 series and TomoTherapy H series systems, radiation oncology firm Accuray reported a 44% drop in revenue and a more than doubling of its net loss in its fiscal third quarter.
For the period (end-March 31), Accuray had revenue of $70.5 million, down from $101.8 million in the same quarter last year. The company had a net loss of $31.2 million, compared with a net loss of $14.9 million a year ago.
In quarterly highlights, Accuray said it realized continued improvement in service revenue and gross profit margin. The company shipped seven units and installed 16 systems in the third quarter, increasing its worldwide installed base to 693 systems.
