No Fun Day for Accuray (ARAY)

Posted in General 
August 25th, 2009

Accuray Incorporated (NASDAQ: ARAY) missed earnings last night by $0.01, but managed to beat revenue estimates.  It posted of $0.02 EPS vs. $0.03 estimates and revenues rose 15.4% to $58.8 million vs. the $56.9 million estimates.  It also guided lower for next quarter and the year: it sees Q1 revenues of $40 to 50 million vs. $59.26 million consensus, and for Fiscal-2010 it sees revenues of $215 to $230 million versus $237.92 million estimates.  Shares were down 10% in the after-hours session yesterday and were traded more actively than this morning. Last night it saw more than 70,000 shares trade in the after-hours session.   We still have shares down 8.9% at $6.85 as of 7:46 AM EST, but we have seen a mere 2,000 shares trade hands… Average volume is over 300,000 shares and we would be looking for a bump up in trading volume as the open gets closer.

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