Accuray Earnings: Here’s Why Investors are Buying Shares Now
Accuray Incorporated (NASDAQ:ARAY) had a loss and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 9.67%.
Accuray Incorporated Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.2 in the quarter versus EPS of $-0.20 in the year-earlier quarter.
Revenue: Decreased 15.55% to $84.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Accuray Incorporated reported adjusted EPS loss of $0.2 per share. By that measure, the company missed the mean analyst estimate of $-0.2. It beat the average revenue estimate of $82.29 million.
Quoting Management: “This was the second quarter in which we have shown growth and improvement in new order volume, driven by the actions we have taken to improve the commercial focus and execution of our business. I am encouraged that while we have seen improved commercial momentum, at the same time we have also reduced operating expenses, resulting in significantly lower operating losses and cash usage,” said Joshua H. Levine, president and chief executive officer of Accuray.
Key Stats (on next page)…
Revenue increased 20.34% from $70.55 million in the previous quarter. EPS decreased to $-0.2 in the quarter versus EPS of $-0.37 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a loss of $0.14 and has not changed. For the current year, the average estimate is a loss of $1.12, which is the same with that ninety days ago.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)