Accuray (ARAY) Posts Q2 EPS of $0.12

Accuray (NASDAQ: ARAY) reported Q2 EPS of $0.12, which includes positive items and does not compare to the analyst estimate of ($0.07). Revenue for the quarter came in at $98.8 million versus the consensus estimate of $97.73 million.

"Financial and operational results for our second fiscal quarter and for the first half of fiscal year 2020 were solid," commented Joshua H. Levine, president and chief executive officer of Accuray. "Gross orders for the second quarter exceeded our internal expectations heading into the quarter, including a solid order contribution from China. We expect revenue growth to improve in the second half of fiscal 2020 as we believe revenue recognition of China Type A systems will start in our fourth fiscal quarter. In addition, we have confirmed that the tariff exemption for medical linear accelerators is applicable to all of our systems. We believe that this exemption will support our commercial momentum and expand access to our innovative radiation therapy solutions for hospitals and patients in China. In light of recent events with the coronavirus outbreak in China, we do not believe that the outbreak affects the longer-term demand outlook for radiotherapy equipment in China. China remains the world\'s fastest growing market for radiation oncology systems where we have a highly differentiated strategy to drive significant revenue growth in the coming years."

GUIDANCE:

Accuray sees FY2020 revenue of $410-420 million, versus the consensus of $412.77 million.

For earnings history and earnings-related data on Accuray (ARAY) click here.

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