EKTAY - Amid COVID-19 Pressures Accuray Looks Toward The Start Of Its China Ramp

• Fiscal first quarter revenue was a little better than expected, and management did well on costs, achieving a modest profit where a modest loss had been expected.
• Orders were down, not surprising given the challenges/pressures from COVID-19, but the backlog remains significant and Accuray should start recognizing Type A system revenue in China this quarter.
• The China market offers Accuray a real chance to transform the business (and sentiment), but execution is crucial if the shares are going to move up toward my mid-single-digit FV.

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