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Accuray Announces Results for Fourth Quarter and Fiscal Year 2013
Date:8/27/2013

SUNNYVALE, Calif., Aug. 27, 2013 /PRNewswire/ -- Accuray Incorporated (Nasdaq: ARAY) announced today financial results for the fourth quarter and fiscal year ended June 30, 2013. Non-GAAP results are provided to enhance understanding of Accuray's ongoing core results of operations.

Accuray announced continued strength in new orders booked in the fourth quarter and first patients treated in the United States with the new CyberKnife® M6™ and TomoTherapy® H™ Series Systems as well as continued financial discipline, operating expense control and decreased operating losses.

"This was the second quarter in which we have shown growth and improvement in new order volume, driven by the actions we have taken to improve the commercial focus and execution of our business. I am encouraged that while we have seen improved commercial momentum, at the same time we have also reduced operating expenses, resulting in significantly lower operating losses and cash usage," said Joshua H. Levine, president and chief executive officer of Accuray.

Accuray also announced that based on final results from extensive durability testing, the Company is pursuing alternative manufacturing strategies for the InCise™ multileaf collimator (MLC) option on the CyberKnife M6 System. "Despite delays surrounding the initial shipment of our MLC, we are encouraged by feedback that the expanded feature set and functionality of our CyberKnife M6 System is driving improved clinical benefits for patients and economic value for our customers," said Joshua H. Levine, president and chief executive officer of Accuray.

Financial Highlights
Gross new product orders totaled $71.6 million during the fourth quarter of fiscal 2013, up $17.8 million or 33% from $53.8 million during the third quarter of fiscal 2013. Net new product orders totaled $58.1 million during the fourth qua
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SOURCE Accuray Incorporated
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