Accuray is a premier radiation oncology company that develops, manufactures, and sells personalized, innovative treatment solutions that set a high standard of care, with the goal of helping patients live longer, better lives. The company's leading edge technologies - the CyberKnife and TomoTherapy Systems - are designed to deliver radiosurgery stereotactic body radiation therapy, intensity modulated radiation therapy, image guided radiation therapy, and adaptive radiation therapy.
The company reported today its success in integrating TomoTherapy, which was acquired a year ago, along with its vision for growth and profitability in the future. The company first reiterated its plans to return to profitability by the end of fiscal year 2013, which ends on June 30, 2013. Then it provided additional milestones for the 2013 fiscal year. These included enhanced revenue growth which will come about through the company's focus on maximizing product sales via continued innovation and market penetration.
Accuray also anticipates further service gross margin improvements, which are expected to reach the 20-22 percent range. The company has already experienced significant improvement in this area. It has had three consecutive quarters of strong service gross margin improvements in the 2012 fiscal year. In the third quarter of fiscal 2012, Accuray's service gross margin climbed to 16.1 percent, which was well above the original goal of 10 percent by the end of the fiscal year. This increase was largely the result of improvement in the reliability of TomoTherapy Systems, which has enhanced customer confidence and increased sales.
Customers are increasingly beginning to recognize that the company's products are best-in-class, allowing Accuray to grow by taking market share from competitors. More than 90 percent of the company's more than 635 units are installed in rooms previously occupied by competitor's products. Unlike its competition, most of Accuray's installations are new customers.
For more information about Accuray, please visit the company's website at www.accuray.com
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