Accuray (NSDQ:ARAY) shares took a hit today on fourth-quarter results that were mixed compared to the consensus forecast.
The Sunnyvale, Calif.-based radiotherapy device maker posted losses of -$823,000, or -1¢ per share, on sales of $94.98 million for the three months ended June 30, 2020, for a 41.2% bottom-line gain on a sales decline of -19.1%.
Accuray’s adjusted EPS of -1¢ came in 1¢ ahead of Wall Street projections, while its revenues missed the analysts’ projections by 4%.
“Despite the circumstances and the uncertainties associated with the COVID-19 pandemic, we finished fiscal 2020 with a solid performance and grew our gross orders by 10 percent year over year,” Accuray president & CEO Josh Levine said in a news release. “I am proud of the team’s execution during the quarter, especially given the challenging operating environment created by the pandemic. … We believe that our operational focus, joint venture strategy in China, and continued investments in our value-creating R&D pipeline projects, positions Accuray strongly for the future.”
Due to the uncertainties surrounding the COVID-19 pandemic and its impact on business, Accuray is not providing 2021 guidance at this time.
ARAY shares were down -6.8% at $2.52 per share in midday trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was down -0.7%.
