Accuray Goes Negative
Accuray (NAS: ARAY) reported earnings on Feb. 8. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 31 (Q2), Accuray beat expectations on revenues and exceeded expectations on earnings per share.
Compared to the prior-year quarter, revenue grew significantly and GAAP earnings per share dropped to a loss.
Margins dropped across the board.
Accuray chalked up revenue of $106.4 million. The two analysts polled by S&P Capital IQ hoped for sales of $101.6 million on the same basis. GAAP reported sales were 96% higher than the prior-year quarter's $54.2 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
Non-GAAP EPS came in at -$0.16. The two earnings estimates compiled by S&P Capital IQ predicted -$0.19 per share on the same basis. GAAP EPS were -$0.15 for Q2 versus $0.07 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 37.8%, 1,650 basis points worse than the prior-year quarter. Operating margin was -6.9%, 1,370 basis points worse than the prior-year quarter. Net margin was -9.8%, 1,740 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $103.0 million. On the bottom line, the average EPS estimate is -$0.09.
Next year's average estimate for revenue is $412.6 million. The average EPS estimate is -$0.47.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 527 members out of 552 rating the stock outperform, and 26 members rating it underperform. Among 166 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 162 give Accuray a green thumbs-up, and four give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Accuray is outperform, with an average price target of $7.00.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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