After a few quarters of "are they or aren't they?" uncertainty about Accuray's (NASDAQ:ARAY) turnaround, I think this quarter was a significant step forward for the company. Product revenue and orders have both recovered to pre-merger levels and attitudes regarding the systems appear to have turned solidly to the positive. Valuation is becoming a trickier issue now and although the shares are not all that cheap anymore from a cash flow standpoint, the shares could still do well by the looser standards of med-tech investors.
Delivering The Goods In Fiscal Q2
Accuray reported 20% overall growth for the quarter, a nearly 18% beat relative to the average Wall Street guess. The relatively more predictable service revenue component...
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