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Accuray Announces Results for the Fourth Quarter and Fiscal Year End 2008
Date:8/19/2008

Accuray's backlog is composed of signed contracts that the company believes have a substantially high probability of being recognized as revenue in future periods. Of the $647 million in backlog at fiscal year end, 71 percent consisted of non-contingent contracts, representing backlog for which contractual contingencies have been satisfied.

Accuray's cash and investment balances at the end of the quarter totaled $159.5 million, consisting of cash and cash equivalents of $36.9 million, short-term investments of $85.5 million and long-term investments of $37.0 million. At the end of the fourth quarter the company continued to have zero debt.

"We ended the fiscal year with strong momentum in new contracts and the quality of our sales pipeline, confirming the growing demand for our CyberKnife Robotic Radiosurgery System," said Euan S. Thomson, Ph.D., president and CEO of Accuray. "Cancer patients, physicians and hospitals worldwide are benefiting from the non-invasive, painless, outpatient treatment offered by our System."

Outlook

The following statement is forward-looking and actual results may differ materially. Accuray expects revenue for fiscal 2009 to be in the range of $230 million to $250 million.

Additional Information

Additional information regarding backlog segmentation which will be discussed during the conference call, is available in the Investor Relations section of the corporate Web site at http://www.accuray.com.

Earnings Call Open to Investors

Accuray will hold a conference call for financial analysts and investors today, August 19, 2008 at 2:00 p.m. PT / 5:00 p.m. ET. The conference call dial-in numbers are (866) 575-6539 (USA) or (913) 981-5530 (International), Access Code: 9058024. A live webcast of the call will also be available from the Investor Relations section of the corporate Web site at htt
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SOURCE Accuray Incorporated
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