Radiation oncology firm Accuray reported financial results for its fiscal fourth quarter that showed revenue edging up while its net loss grew.
For the quarter (end-June 30), Accuray posted revenues of $117.4 million, up 3.2% compared with revenues of $113.8 million in the fourth quarter of 2018. The company's quarterly net loss was $1.4 million, compared with a net loss of $946,000 in the same quarter the year before.
For the year, Accuray reported sales of $418.8 million, up 3.4% compared with revenues of $404.9 million for fiscal 2018. The company's net loss for fiscal 2019 was $16.4 million, compared with a net loss of $23.9 million in the year before.
In discussing the results, Accuray noted that the fourth-quarter revenue figures were the highest for an individual quarter in the company's history. Gross orders for the year grew 12%, and the company had its first full year of operating profit since 2011.
