Latest News by Industry
SUNNYVALE, Calif. (AP) — SUNNYVALE, Calif. (AP) — Accuray Inc. (ARAY) on Wednesday reported fiscal third-quarter net income of $599,000, after reporting a loss in the same period a year earlier.
The Sunnyvale, California-based company said it had profit of 1 cent per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.
The radiation oncology company posted revenue of $118.1 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $110.9 million.
Accuray expects full-year revenue in the range of $447 million to $455 million.
In the final minutes of trading on Wednesday, the company's shares hit $2.70. A year ago, they were trading at $3.15.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a ARAY">Zacks stock report on ARAY at https://www.zacks.com/ap/ARAY