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Accuray beats The Street in Q2 earnings

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Accuray (NSDQ:ARAY) yesterday posted second-quarter results that beat the consensus forecast on Wall Street.

The Sunnyvale, Calif.-based radiation oncology company reported profits of $4.8 million, or 5¢ per share, on sales of $97.5 million for the three months ended Dec. 31, 2020, for a bottom-line slide of -55.5% sales loss of -1.4% compared with Q2 2020.

Earnings per share were 5¢, 9¢ ahead of The Street, where analysts were looking for sales of $92.4 million.

“Our second-quarter performance continues to reflect the positive momentum our business is making despite the headwinds created by the COVID-19 environment,” president and CEO Josh Levine said in a news release.

“Highlights from our second quarter performance include the beginning of system revenue conversion related to the Type A radiotherapy licenses in China as well as receiving 510(k) FDA clearance of our ClearRT Helical kVCT imaging platform for the Radixact system,” Levine said. “We are pleased with the continued resilience and commercial cadence that our business is exhibiting as well as the recent product innovation/upgrades coming through our development pipeline. We believe the additions of the Cyberknife S7 System, Synchrony on Radixact, and ClearRT Helical kVCT Imaging to our portfolio will have a meaningful clinical impact on our customers, and we look forward to the adoption of these important features and the functional improvement they represent in clinical practice.”

Due to the uncertainties surrounding the COVID-19 pandemic, Accuray is not providing a financial outlook for fiscal year 2021.

Shares in ARAY were up 0.78% to $5.19 apiece at market close yesterday, but are down -2.7% to $5.05 apiece in pre-market trading this morning.

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