Accuray posts higher sales in Q4

Radiation oncology firm Accuray reported financial results for its fiscal fourth quarter that showed revenue edging up while its net loss grew.

For the quarter (end-June 30), Accuray posted revenues of $117.4 million, up 3.2% compared with revenues of $113.8 million in the fourth quarter of 2018. The company's quarterly net loss was $1.4 million, compared with a net loss of $946,000 in the same quarter the year before.

For the year, Accuray reported sales of $418.8 million, up 3.4% compared with revenues of $404.9 million for fiscal 2018. The company's net loss for fiscal 2019 was $16.4 million, compared with a net loss of $23.9 million in the year before.

In discussing the results, Accuray noted that the fourth-quarter revenue figures were the highest for an individual quarter in the company's history. Gross orders for the year grew 12%, and the company had its first full year of operating profit since 2011.

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