Category: Accuray Inc.
Accuray Inc.'s first-quarter results beat Wall Street's expectations, but investors still send its share price down 5 percent as the radiosurgery company's quarterly losses gape by more than 470 percent.
Accuray (NSDQ:ARAY) shares are down today after the radiosurgery company reported surging first-quarter sales and beat Wall Street's earnings expectations, as investors reacted to net losses of nearly six times the Q1 2011 mark.
Accuray reported losses of $26.5 million, or 38 cents per share, on sales of $100.5 million for the three months ended Sept. 30. That's top-line growth of 163.9 percent compared with the same period last year, largely due to the massive infusion that followed ARAY's acquisition of rival TomoTherapy earlier this year.
St. Jude's hybrid FFR/OCT blood vessel imaging system gets the green light from the FDA.
St. Jude Medical Inc. (NYSE:STJ) got the FDA's green light for the U.S. market's first combined FFR/OCT blood vessel imaging system for diagnosis and treatment of coronary artery disease.
The Ilumien system combines St. Jude's PressureWire Aeris wireless fractional flow reserve imaging technology, which allows physicians to visualize blood vessel characteristics, and its Extreme Resolution optical coherence tomography, which helps evaluate the severity of blood flow blockages in coronary arteries.
Avedro Inc. appoints med tech veteran C. Evan Ballantyne as its chief financial officer.
Waltham, Mass.-based medical device and pharmaceutical company Avedro appointed industry veteran C. Evan Ballantyne as its new chief financial officer.
Prior to the appointment, Ballantyne was the VP & CFO of biopharmaceutical company Clinical Data Inc., chief financial officer of Beverly, Mass.-based ZymeQuest, and vice president at chief operating officer at the ACNielsen Corporation.
Accuray Inc. put red ink into its ledger book for the fourth quarter and full fiscal 2011, as it paid down its $300 million acquisition of rival TomoTherapy; also, Analogic posts double-digit sales and profit gains; Solos Endoscopy reports sales increase; Pro-Dex swings to black ink; Revolutions Medical posts big losses; Visual Healthcare rides the ACA to profitability.
Accuray Inc. (NSDQ:ARAY) may be the fish that swallowed the whale, but it might have bitten off more than it can chew judging from its fourth-quarter and fiscal 2011 results.
The Sunnyvale, Calif.-based radiosurgery device maker paid $300 million for its larger rival TomoTherapy in March. That acquisition sent ARAY into the red for both the quarter and full year.
Accuray's initial proposal of $75 million in convertible senior notes rises to $100 million in official pricing.
Updated: 08/02/2011 1:30 p.m.
Accuray Inc. (NSDQ:ARAY) priced its proposed offering higher than previous estimates, coming in at $100 million in 3.75 percent convertible senior notes made available to institutional investors.
The sale was set to close yesterday, according to SEC filings.
Becton Dickinson's 11-year CEO Edward Ludwig plans to step down to make way for company veteran Vincent Florenza.
Becton, Dickinson & Co. (NYSE:BDX) picked a new man for the corner office this week with the announcement that Vincent Florenza will join the board of directors and take the reins from current board chairman and CEO Edward Ludwig on October 1, 2011.
Accuray Inc. announces plans to offer $75 million in convertible senior notes to institutional investors.
Accuray Inc. (NSDQ:ARAY) announced plans to launch a $75 million offering of senior convertible notes today.
The notes, due Aug. 1, 2016, will be open to institutional investors and the Sunnyvale, Calif.-based company plans to offer the first investor an option to pick up an additional $11.25 million aggregate in principal notes.