Accuray's fiscal Q1 revenue declines

By staff writers

October 30, 2020 -- Radiation oncology firm Accuray has released financial results for its first quarter of fiscal 2021 that show a drop in revenue from last year.

Accuray posted revenue of $85.3 million in the quarter (end-September 30), down 4.8% compared with revenue of $89.6 million in the same period the year before. The company's net income was $400,000, compared with a net loss of $9.4 million for the first quarter of fiscal 2020.

However, the firm received gross orders of $50.5 million and an ending backlog of $597 million, an increase of 21% from September 30, 2019. Accuray also expects revenue recognition from a contract to sell systems in China that was awarded in October 2019 to start in the second quarter of fiscal 2021.

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