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28.01.2020 23:45:20

Accuray Reports Solid Earnings in its Second Fiscal Quarter

Shares of Accuray (NASDAQ: ARAY), which sells radiosurgery and radiation therapy systems for treating cancer, were up 13% at 4:57 p.m. EST in after hours trading after the company reported better-than-expected fiscal second quarter results. Management noted that the company expects revenue growth to improve in the second half of fiscal 2020.Gross orders of the company's systems totaled $98.6 million, a little less than the $100.2 million in the year-ago quarter. But net orders came in at $89.9 million, up 30% year-over-year as the backlog at the end of the quarter increased 12% to $539.4 million.There were 11 orders from China during the quarter, highlighting the company's strategy to go after sales in the world's fastest growing market for radiation oncology systems.Continue reading
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