Revenue and net income came in above expectations for radiation oncology firm Accuray in its fiscal third quarter.
For the period (end-March 31), Accuray had total revenue of $105.3 million, up 8% from $97.5 million in the third quarter of 2015. The firm also posted quarterly net income of $756,000, compared with a net loss of $3 million in the same period last year.
Despite the positive results, Accuray did slightly revise its financial guidance downward for the 2016 fiscal year. The vendor now expects total revenue to range from $395 million to $405 million, down from previously issued expectations of $395 million to $410 million.
In addition, Accuray expects adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to be between $25 million and $30 million, compared with the previous estimate of $25 million to $35 million. What's more, the company now expects to have fiscal 2016 gross orders of $280 million to $290 million, compared with the previous guidance of approximately $295 million.
In other Accuray news, the company said it has filed a 510(k) application with the U.S. Food and Drug Administration (FDA) for its Radixact treatment delivery system. The next generation of the vendor's TomoTherapy platform features increased throughput, higher reliability, and easier serviceability, according to Accuray.
Accuray said it also submitted a 510(k) application to the FDA for its Precision treatment planning system and iDMS data management system, which are designed to work together with Radixact.
