Radiation oncology firm Accuray has released financial results for its fourth quarter and fiscal year that show a drop in revenue from last year.
For the fourth quarter (end-June 30), Accuray posted revenue of $94.9 million, down 19% compared with revenue of $117.4 million in the same period the year before. The company's net loss for the most recent period was $800,000, compared with a net loss of $1.4 million in the fourth quarter of fiscal 2019.
For the full fiscal year, Accuray posted net revenue of $382.9 million, which is an 8.6% drop from 2019, when its net revenue was $418.8 million. The company's net income for the full fiscal 2019 was $3.2 million, compared with a net loss of $16.4 million for the year before.
Accuray grew its full-year orders by 10% year over year to $377.3 million. That was also found to be true in the fourth quarter, during which orders grossed $94.3 million, including eight orders from China.
Other Accuray highlights include ending a backlog of $602.7 million, an increase of 22% from June 30, 2019.
