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Accuray Announces Results for Fourth Quarter and Fiscal Year 2012
Date:9/6/2012

SUNNYVALE, Calif., Sept. 6, 2012 /PRNewswire/ -- Accuray Incorporated (Nasdaq: ARAY), the premier radiation oncology company, announced today financial results for the fourth quarter and fiscal year ended June 30, 2012. The fiscal 2012 financial data presented below reflects Accuray's consolidated results including the results for TomoTherapy Incorporated, which was acquired by Accuray in June 2011. Non-GAAP results are provided to enhance understanding of Accuray's ongoing core results of operations.

Highlights from the fourth quarter of fiscal 2012 include continued improvement in service margins, with a year-over-year decrease in sales and marketing, and general and administrative expenses and a 1.15 book-to-bill ratio.

"We have been investing heavily in research and development and plan to introduce two advanced technology platforms at the American Society for Radiation Oncology's (ASTRO) Annual Meeting in October 2012 which we expect to drive future orders and revenue growth," said Euan S. Thomson, Ph.D., president and chief executive officer of Accuray. "After the new product introductions we plan to reduce our research and development expenses to more normalized levels as seen historically.  We believe we are on track to return to profitability (non-GAAP) on schedule, by the end of our current fiscal year, ending June 30, 2013."

For the fourth quarter of fiscal 2012, Accuray reported total consolidated GAAP revenue of $100.5 million and non-GAAP total revenue of $101.1 million. By comparison, for the fourth quarter of fiscal 2011, the sum of the revenue reported or recorded by Accuray and TomoTherapy as separate companies totaled $109.8 million on a pro forma basis. For the fiscal year ended June 30, 2012, GAAP revenue was $409.2 million and non-GAAP revenue was $401.3 million, a decrease from the pro forma total revenue of $409.7 million in th
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SOURCE Accuray Incorporated
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