Today, Accuray reported earnings for the second quarter of 2009. Total revenue was $57.6 million, which was about an 11% increase over second quarter of 2008. This was also an increase on the first quarter of 2009.
Like other companies, Accuray announced it will be cutting 13% of its workforce.
Backlog for 2009 now sits at $598 million.
The company sits on $155 million in cash and remains debt free.
Accuray expects 2009 earnings to be $230 to $250 million.
I continue to hold this stock in my real life account and think the Cyberknife that they market continues to bring in recurring revenue and add to the backlog.
*Disclaimer-I own shares of Accuray in my real life Sogotrade account.