Radiation oncology firm Accuray reported that a decline in product revenue adversely affected its second-quarter fiscal 2017 results (end-December 31).
Total revenue decreased to $87.5 million, compared with $108.9 million in the second quarter of the previous fiscal year. Product revenue slipped to $35.4 million, compared with $55.8 million in the second quarter a year ago. Accuray cited lower sales unit volume as well as product and channel mix for the decline. The company's net loss increased to $9.4 million, compared with a net loss of $6 million in the second quarter of fiscal 2016.
On a positive note, Accuray recorded gross product orders of $78.5 million in the second quarter of fiscal 2017, compared with $67.1 million for the same quarter in the prior year.
For the six-month period, Accuray reported total revenue of $174 million, compared with $198.5 million in the first six months of fiscal 2016. Product revenue fell to $71 million, compared with $95.8 million in the prior six-month period. The six-month net loss reached $19.3 million, compared with a net loss of $19.1 million in the same period a year ago.
Accuray also forecasted total revenue of $410 million to $420 million for all of fiscal 2017, which would represent growth of 3% to 5%, compared with fiscal 2016.
