The Gory Details on Accuray's Double Miss
By Seth Jayson | More Articles | Save For Later
November 9, 2012 | Comments (0)
Accuray (Nasdaq: ARAY ) reported earnings on Nov. 7. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Sep. 30 (Q1), Accuray missed estimates on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped significantly and GAAP loss per share dropped.
Gross margins expanded, operating margins contracted, net margins dropped.
Accuray chalked up revenue of $82.7 million. The six analysts polled by S&P Capital IQ foresaw revenue of $85.4 million on the same basis. GAAP reported sales were 18% lower than the prior-year quarter's $100.5 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$0.23. The seven earnings estimates compiled by S&P Capital IQ averaged -$0.22 per share. GAAP EPS were -$0.34 for Q1 versus -$0.38 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 28.6%, 430 basis points better than the prior-year quarter. Operating margin was -27.4%, 280 basis points worse than the prior-year quarter. Net margin was -29.2%, 280 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $98.0 million. On the bottom line, the average EPS estimate is -$0.14.
Next year's average estimate for revenue is $413.2 million. The average EPS estimate is -$0.41.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 513 members out of 539 rating the stock outperform, and 26 members rating it underperform. Among 141 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 136 give Accuray a green thumbs-up, and five 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 $9.67.
Add Accuray to My Watchlist.
Discover how conservative investors safely generate steady monthly income—with options! Try it FREE this month only.
Don't forget the 2.3% tax coming on the medical device manufacturers.. That should really help alot..
BTW.. why were medical devices targeted for this tax to help fund Obamacare(ACA)?? ISRG and GE can afford it... ARAY cannot..
All the Medical device tax does is kill jobs and innovation. Which is how we get our less expensive and better Medical care. In Central New York several jobs have been lost by small medical device companies. One company recently outsourced 40 office jobs to Mexico, due to the tax. Like Mordac the preventer of information services; The Obama Administration is the preventer of Jobs and better and more affordable medical care.
I used to subscribe to Motley Fool. I never made any money off any of thier picks. I also never put much stock in what Seth Jayson says. He only looks at companys from his myoptic point of view. The stuff Motley Fool puts out for public consumption are just a teasers to get subscribers.