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Accuray Announces Results for Third Quarter Fiscal 2013
Date:5/7/2013

SUNNYVALE, Calif., May 7, 2013 /PRNewswire/ -- Accuray Incorporated (Nasdaq: ARAY) today announced financial results for the third quarter of fiscal 2013 that ended March 31, 2013. Non-GAAP results are provided to enhance understanding of Accuray's ongoing core results of operations.

Recent highlights include an upturn in new orders booked in the third quarter, installation of the first new CyberKnife M6 Series and TomoTherapy H Series systems, and continued improvement in service revenue and gross profit margin.

"I am encouraged by the noticeable improvement in new order volume during the third quarter and the positive reception for our new products," said Joshua Levine, president and chief executive officer of Accuray. "We are starting to see the early benefits of the actions we have been taking to improve the commercial focus and execution of our business. We look forward to further unlocking the value in our two new product platforms as we continue to focus on optimizing our commercial execution."

Gross new product orders totaled $53.8 million during the third quarter of fiscal 2013, up from $39.8 million during the second quarter of fiscal 2013. Net new product orders totaled $44.1 million during the third quarter of fiscal 2013, up from $17.9 million during the second quarter of fiscal 2013. Ending product backlog of $297.9 million was 7% higher than $279.0 million at the end of the previous quarter, and $279.6 million at the end of the prior year third quarter.

During the third quarter of fiscal 2013, 7 units were shipped and 16 were installed, increasing Accuray's worldwide installed base to 693 systems.

For the third quarter of fiscal 2013 Accuray reported total consolidated GAAP revenue of $70.5 million and total non-GAAP revenue of $70.6 million. By comparison, for the third quarter of fiscal 2012, total GAAP revenue was $101.8 mil
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SOURCE Accuray Incorporated
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