Radiation oncology firm Accuray posted declines in its Q3 revenue and net profit and also announced a new executive position, chief commercial officer (CCO).
For its third quarter (end-March 31), the company's revenues were $97.3 million, down 8% from $105.3 million for the same period in 2016. It also posted a net loss of $5 million, compared with net income of $800,000 for the same quarter last year.
For the nine months ending in March, Accuray saw revenues of $271.3 million, down 11% from $303.8 million in 2016. Its net loss for the period was $24.3 million, compared with a net loss of $18.3 million for the first nine months of 2016.
In other Accuray news, the company appointed Dr. Lionel Hadjadjeba to the position of CCO, eliminating its chief operating officer position. Hadjadjeba joined Accuray in 2012 and most recently served as senior vice president for the company's worldwide commercial concerns.
