Accuray Inc. Announces Results for Fourth Quarter and Fiscal Year 2009
25 Aug 2009
Financial Statement
SUNNYVALE, Calif., Aug. 24 /PRNewswire-FirstCall/ -- Accuray Incorporated , a global leader in the field of radiosurgery, announced today financial results for the fourth quarter and fiscal year 2009, ended June 27, 2009.
Net income for the fourth quarter of fiscal 2009 was $1.2 million, or $0.02 per diluted share, compared to net income of $191,000, or breakeven, during the same period last year. Net income for fiscal year 2009 was $609,000 or $0.01 per diluted share, compared to net income of $5.4 million or $0.09 per diluted share for fiscal year 2008. During fiscal 2009, net income was impacted by $5.8 million or $0.10 per diluted share of non-recurring charges, associated with employee severance, inventory write downs and expenses related to January's work force reduction.
During the fourth quarter of fiscal 2009, $75.0 million was added to backlog representing 15 CyberKnife((R)) Robotic Radiosurgery System agreements. In addition, new service agreements with a value of $13.6 million were signed.
In the fourth quarter of fiscal 2009, 12 new CyberKnife Systems were installed, making a full year installation total of 36 systems, an improvement over the 31 systems installed during the year prior. At the end of the 2009 fiscal year, the worldwide CyberKnife installation base was 176.
Accuray's cash and investment balances at the end of the fourth quarter of 2009 totaled $159.2 million, which includes cash and cash equivalents of $36.8 million, restricted cash of $0.5 million, short-term investments of $64.6 million and long-term investments of $57.3 million. At the end of the fourth quarter of 2009 the Company continued to have no debt.
Additional Information
Additional information regarding backlog segmentation, which will be discussed during the conference call, is available in the Investor Relations section of the company's Web site at
About the CyberKnife((R)) Robotic Radiosurgery System
The CyberKnife Robotic Radiosurgery System is the world's only robotic radiosurgery system designed to treat tumors anywhere in the body non-invasively. Using continual image guidance technology and computer controlled robotic mobility, the CyberKnife System automatically tracks, detects and corrects for tumor and patient movement in real-time throughout the treatment. This enables the CyberKnife System to deliver high-dose radiation with pinpoint precision, which minimizes damage to surrounding healthy tissue and eliminates the need for invasive head or body stabilization frames.
Safe Harbor Statement
The foregoing may contain certain forward-looking statements that involve risks and uncertainties, including uncertainties associated with the medical device industry. Except for the historical information contained herein, the matters set forth in this press release, as to financial guidance, realization of backlog, increasing number of patients, customer installation schedules, and market acceptance are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements speak only as of the date the statements are made and are based on information available at the time those statements are made and/or management's good faith belief as of that time with respect to future events. You should not put undue reliance on any forward-looking statements. Important factors that could cause actual performance and results to differ materially from the forward-looking statements we make include: variability of installation and sales cycle including customer financing and construction delays; market acceptance of products; competing products; and other risks detailed from time to time under the heading "Risk Factors" in our report on Form 10-K for the 2008 fiscal year, as updated from time to time by our quarterly reports on Form 10-Q and our other filings with the Securities and Exchange Commission. The Company's actual results of operations may differ significantly from those contemplated by such forward-looking statements as a result of these and other factors. We assume no obligation to update forward-looking statements to reflect actual performance or results, changes in assumptions or changes in other factors affecting forward-looking information, except to the extent required by applicable securities laws.
SOURCE Accuray Incorporated
CONTACT: Tom Rathjen, Vice President, Investor Relations, +1-408-789-4458,
trathjen@accuray.com, or Stephanie Tomei, Senior Manager, Public Relations,
+1-408-789-4234, stomei@accuray.com, both of Accuray Incorporated
Web site:
Organizations
Indications
Targets
-Drugs
-Hot reports
Get started for free today!
Accelerate Strategic R&D decision making with Synapse, PatSnap’s AI-powered Connected Innovation Intelligence Platform Built for Life Sciences Professionals.
Start your data trial now!
Synapse data is also accessible to external entities via APIs or data packages. Leverages most recent intelligence information, enabling fullest potential.