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Accuray Announces Results for Third Quarter Fiscal 2012
Date:5/8/2012

as $300.2 million, which is slightly higher than pro forma total revenue of $299.9 million in the same period of the prior year.

The consolidated GAAP gross margin for the third quarter of fiscal 2012 was 45.9 percent for products and 20.7 percent for services. The consolidated non-GAAP gross margin for the third quarter of fiscal 2012 was 53.5 percent for products and 16.1 percent for services. Positive service gross margins were driven largely by a continued improvement in reliability and reduction of service costs for TomoTherapy Systems. Accuray significantly improved service gross margins and remains well ahead of its plan to achieve at least 10 percent service margins by the fourth quarter of fiscal year 2012 and on track to achieve at least 20 percent by the fourth quarter of fiscal year 2013 on a non-GAAP basis.

Consolidated GAAP net loss attributable to stockholders for the third quarter of fiscal 2012 was $14.9 million, or $0.21 per share. Non-GAAP net loss for the third quarter of fiscal 2012 was $9.2 million or $0.13 per share. By comparison, for the quarter ended March 31, 2011 the sum of the net losses reported by Accuray and TomoTherapy as separate companies totaled $3.6 million or $0.05 per share on a pro forma basis.

Accuray added $64.2 million of net new system orders to backlog during the period ending March 31, 2012, increasing system backlog to $279.6 million.  During the third quarter, Accuray experienced areas of strength and areas of challenge around the world. While performance internationally was good, the company recently implemented a realignment of its sales organization in the United States designed to enhance performance in this region. 

During the third quarter of fiscal 2012, 18 units were shipped and 22 were installed, increasing Accuray's worldwide installed base to 635 systems.

Accuray's cash, cash equivalents and restricted cash in total increased $2.8 million to $154.8 million as o
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SOURCE Accuray Incorporated
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