ARAY - Why Shares of Accuray Jumped Thursday
Shares of Accuray (NASDAQ: ARAY) were up as much as 17.6% on Thursday. The medical instruments maker, which specializes in radiation oncology machines, released its fiscal 2023 second-quarter earnings report late Wednesday. So far this year, shares are up more than 35%.
In the second-quarter report, CEO Suzanne Winter said the company set a record with 29 new systems delivered. While most of the other financial numbers were down, the message was that the company did better than expected despite supply chain difficulties and a strong dollar that made its products more expensive overseas.
The company reported revenue of $114.8 million, down 1.3% year over year, and said it had a loss of $1.9 million, compared to net income of $200,000 in the same period a year ago. Adjusted earnings before interest, taxes, depreciation, and amortization ( EBITDA ) were $6.8 million, up 24.1% year over year.
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Why Shares of Accuray Jumped Thursday