Accuray (NASDAQ: ARAY) reported Q4 EPS of ($0.06). Revenue for the quarter came in at $112.1 million versus the consensus estimate of $113.98 million.

2018 Financial Guidance

The company is introducing guidance for fiscal year 2018 as follows:

• Revenue: $390.0 million to $400.0 million representing growth of approximately 2 percent to 4 percent year-over-year with product revenue growing 5 to 10 percent year-over-year and service revenue flat with fiscal year 2017. Furthermore, the calendarization of revenue during fiscal year 2018 is expected to match that of fiscal year 2017;
• Adjusted EBITDA: $25.0 million to $30.0 million representing growth of approximately 23 percent to 47 percent year-over-year;
• Backlog and Gross Orders growth of approximately 5 percent. Orders in the first quarter are expected to be the lowest level for the fiscal year while orders in the fourth quarter are expected to be the highest level for the fiscal year.

GUIDANCE:

Accuray sees FY2018 revenue of $390-400 million, versus the consensus of $398.58 million.

Q4 Fiscal 2017 and Recent Highlights

• Gross orders of $85.7 million driven by strong demand from both the new Radixact™ System and the CyberKnife® System with the InCise™ Multileaf Collimator (\"MLC\")
• Revenue increased 18 percent compared to prior fiscal year to $112.1 million driven by strong year over year growth from the Americas and APAC regions
• Generated operating income of $2.8 million compared to an operating loss of $3.0 million in the prior fiscal year; generated a net loss of $5.3 million compared to a prior fiscal year net loss of $7.2 million
• Adjusted EBITDA of $10.3 million as compared to $5.0 million in prior fiscal year
• Cash, cash equivalents, investments and short-term restricted cash increased sequentially by $23.6 million to $108.8 million at June 30, 2017
• New study data in a peer-reviewed journal published online shows TomoTherapy® System IMRT as superior to RapidArc in achieving local control of head and neck cancer

For earnings history and earnings-related data on Accuray (ARAY) click here.