Accuray: Preliminary Q4, FY Revenue, Product Orders In Line With Guidance

(RTTNews) - Accuray Incorporated (ARAY) reported preliminary revenue and product orders for the fourth quarter and full fiscal year ended June 30, 2017, that are in line with guidance provided in April. Revenue for the fourth quarter is expected to be approximately $111.5-$112.0 million. Gross product orders for the fourth quarter are expected to be approximately $86 million.

"Our fourth quarter revenue growth was driven by improved performance in both our Europe and Asia Pacific regions and we finished the fiscal year with renewed momentum resulting from our increased focus on converting backlog to revenue," said Joshua Levine, president and CEO of Accuray.

For the full fiscal year, revenue is expected to be approximately $382.8-$383.3 million. Full fiscal year gross product orders are expected to be approximately $298 million.

"As we look forward to fiscal year 2018, we strongly believe we have the people, processes and product roadmap in place for continued growth in orders, revenues and market share," said Joshua Levine.