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Accuray Reports Continued Growth in Second Quarter of Fiscal 2008
Date:1/30/2008

Fourth Consecutive Quarter of Record Revenue and Backlog

SUNNYVALE, Calif., Jan. 30 /PRNewswire-FirstCall/ -- Accuray Incorporated (Nasdaq: ARAY), a global leader in the field of radiosurgery, today announced financial results for the second quarter of fiscal 2008, ended December 29, 2007.

For the second quarter of fiscal 2008, Accuray reported total revenue of $52.0 million, a 98 percent increase over second quarter fiscal 2007 total revenue of $26.3 million.

Net income for the quarter ended December 29, 2007 was $2.3 million, or $0.04 per diluted share, compared to a loss of $7.3 million, or a loss of $0.45 per share, during the same period last year. Shares used in computing fully diluted earnings per share were 61.3 million for the second fiscal quarter of 2008.

Non-cash, stock-based compensation charges for the second fiscal quarter of 2008 were $4.3 million or $0.07 per diluted share.

For the period ended December 29, 2007, backlog increased to approximately $660 million, with approximately $365 million associated with CyberKnife(R) Robotic Radiosurgery System contracts and approximately $295 million associated with services and other recurring revenue. Accuray's backlog is composed of firm, signed contracts that the company believes have a substantially high probability of being recognized as revenue.

Accuray's cash balance at the end of the quarter was $187.5 million.

For the six months ended December 29, 2007, total revenue was $100.7 million, a 70 percent improvement over the $59.1 million in total revenue during the same period last year. Net income for the first half of fiscal 2008 was $4.6 million, or $0.08 per diluted share, compared to a loss of $5.3 million, or a loss
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SOURCE Accuray Incorporated
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