Boston, MA 02/03/2014 (wallstreetpr) – Riding on improved financial results declared last week for its recently ended second quarter of 2014, along with bettered revenue guidance for the full fiscal 2014, American radiation oncology firm Accuray Incorporated (NASDAQ:ARAY) exhibited strong bullish behavior with shares crossing a landmark $10 mark in their January 31 trade. Additionally on the same day, Accuray also saw more than 10.56 million shares exchange hands – the highest-ever trade volumes in a day in its entire history.
Accuray’s 2Q Earnings Report
Accuray Incorporated (NASDAQ:ARAY) saw total revenue for its second quarter climb 20% to approximately $93.6 million from the corresponding quarter exactly a year ago. With its gross orders more than doubling up and aggregating to around $80.3 million for the second quarter from $39.8 million from the prior year quarter, the radiosurgery systems maker saw its order backlogs at approximately $362 million, marking a considerable 30% jump year-over-year.
Total revenue for the quarter declared stood at around $93.6 million, recording a 20% jump from the corresponding quarter a year before, with revenue from its product line surging 36% to $45.1 million while its services contributed revenues worth about $48.5 million, signifying a 9% increase year-on-year.
Total gross profit rose about 43% over a 12-month period to around $38.2 million, while operating expenses fell to approximately $38.9 million from the $48.9 million seen a year ago. Overall, Accuray Incorporated (NASDAQ:ARAY)’s net losses partly recovered to post a modest $5.4 million in losses, in comparison to net losses of $29.2 million seen a year earlier. Accuray’s earnings per share figures stood at the loss-ridden $0.07 a share for the 2014 second quarter from the higher losses $0.40 a share seen a year ago.
2014 Outlook
The California-based Accuray Inc. (NASDAQ:ARAY) revised outlook for the full fiscal 2014 estimates its total revenue growth in the range of $340 million to $350 million, up from its earlier projected guidance between $325 and $345 million. Accuray shares soared over 15% to close beyond the $10 mark at $10.65 on January 31 from their previous $9.24, with after-hours figures hovering around the closing price.
