Accuray Announces Results for Second Quarter Fiscal 2012
--Achieves Solid Revenue, Positive Service Margins and Positive Cash Flow
--Integration Performance Metrics Ahead of Plan; Remains on Track for Return to
Profitability
SUNNYVALE, Calif., Feb. 8, 2012 /PRNewswire via COMTEX/ -- Accuray Incorporated
(ARAY), the premier radiation oncology company, announced today financial results
for the second quarter of fiscal 2012 that ended December 31, 2011. The fiscal
2012 financial data presented below reflects the consolidation of both Accuray
and TomoTherapy, a company that was acquired by Accuray in June 2011. Non-GAAP
results are provided to enhance understanding of Accuray's ongoing core results
of operations.
Highlights from the second quarter of fiscal 2012 included solid revenue,
positive service margins and effective management of operating expenses. Accuray
continued to successfully execute its integration plans from its acquisition of
TomoTherapy and reported integration performance metrics that met or exceeded the
company's stated goals. The company was cash-flow positive during the quarter and
remains on track to return to profitability on a non-GAAP basis by the end of
fiscal year 2013 as forecasted.
"We are pleased to achieve another quarter of solid revenue as our integration of
TomoTherapy continues to progress well and our global installed base continues to
expand," said Euan S. Thomson, Ph.D., president and chief executive officer of
Accuray. "We continue to capture competitive vault space, and as our installed
base grows, so does our recurring service revenue. We remain ahead of plan with
our TomoTherapy System reliability improvements and have made significant
progress on improving service gross margins. Overall, we're pleased to report
that we remain on track to return to profitability on a non-GAAP basis as
scheduled by the end of fiscal year 2013."
For the second quarter of fiscal 2012, Accuray reported total consolidated GAAP
revenue of $106.4 million and non-GAAP total revenue of $102.9 million. By
comparison, for the quarter ended December 31, 2010, the sum of the revenue
reported by Accuray and TomoTherapy as separate companies totaled $116.3 million
on a pro forma basis. The higher 2010 revenue was a result of historically high
legacy TomoTherapy revenue for the quarter due to calendar year-end shipment and
installation activity. Legacy TomoTherapy's fiscal year ended December 31.
Non-GAAP revenue for the six-month period ended December 31, 2011 was $198.6
million, which is slightly higher than the same period in the prior year.
The consolidated GAAP gross profit margin for the second quarter of fiscal 2012
was 48.6 percent for products and 21.2 percent for services. The consolidated
non-GAAP gross profit margin for the second quarter of fiscal 2012 was 55.8
percent for products and 12.3 percent for services. Positive service gross
margins were driven largely by continued increase in reliability and reduction of
service costs for TomoTherapy Systems. Accuray significantly improved service
gross margins and with its reported metrics, remains ahead of plan for achieving
at least 10 percent service margins by the fourth quarter of fiscal year 2012 and
at least 20 percent by the fourth quarter of fiscal year 2013 on a non-GAAP
basis.
Consolidated GAAP net loss attributable to stockholders for the second quarter of
fiscal 2012 was $10.4 million, or $0.15 per share. Non-GAAP net loss for the
second quarter of fiscal 2012 was $7.1 million or $0.10 per share. By comparison,
for the quarter ended December 31, 2010 the sum of the net losses reported by
Accuray and TomoTherapy as separate companies totaled $1.9 million on a pro forma
basis.
Accuray continues to see a significant sales pipeline in all four of its regional
business units for both its CyberKnife and TomoTherapy technologies. During the
second quarter of fiscal 2012, $70.3 million of net new system orders were added
to backlog, resulting in a total system backlog of $276.8 million as of December
31, 2011, an increase of 2.2 percent from the prior quarter.
During the second quarter of fiscal 2012, 25 units were shipped and 23 were
installed, increasing the worldwide Accuray installed base to 616 systems.
Accuray's cash, cash equivalents and restricted cash totaled $152.0 million as of
December 31, 2011.
Outlook
The following statement, among others in this release, is forward-looking and
actual results may differ materially. During fiscal year 2012, Accuray expects
that revenue will be in the range of $411 million to $426 million (GAAP), or $400
million to $415 million (non-GAAP).
Additional Information
Additional information including slides of second quarter highlights which will
be discussed during the conference call, is available in the Investor Relations
section of the company's website at accuray.com. 
Earnings Call Open to Investors
Accuray will hold a conference call for financial analysts and investors on
Wednesday, February 8, 2012 at 2:00 p.m. PST/5:00 p.m. EST. The conference call
dial-in numbers are 1-800-706-7748 (USA) or 1-617-614-3473 (International),
Conference ID: 85618699. A live webcast of the call will also be available from
the Investor Relations section of the corporate website at
accuray.com In addition, a recording of the call will be
available by calling 1-888-286-8010 (USA) or 1-617-801-6888 (International),
Conference ID: 85149521, beginning at 5:00 p.m. PST/8:00 p.m. EST on February 8,
2012 and will be available through February 16, 2012. A webcast replay will also
be available from the Investor Relations section of the Company's website at
accuray.com from approximately 5:00 p.m. PST/8:00 p.m. EST
today through Accuray's release of its results for the third quarter of fiscal
2012, ending March 31, 2012.
About Accuray
Accuray Incorporated (ARAY), based in Sunnyvale, Calif., is the premier radiation
oncology company that develops, manufactures and sells personalized, innovative
treatment solutions that set the standard of care with the aim of helping
patients live longer, better lives. The Company's leading-edge technologies - the
CyberKnife and TomoTherapy Systems - are designed to deliver radiosurgery,
stereotactic body radiation therapy, intensity modulated radiation therapy, image
guided radiation therapy, and adaptive radiation therapy. To date, more than
200,000 patients worldwide have been treated using the Company's technologies and
616 systems have been installed in leading hospitals around the world. For more
information, please visit accuray.com.
Safe Harbor Statement
Statements made in this press release that are not statements of historical fact
are forward-looking statements and are subject to the "safe harbor" provisions of
the Private Securities Litigation Reform Act of 1995. Forward-looking statements
in this press release relate, but are not limited, to the company's future
profitability, continuing improvements in gross margins and expected achievement
of specific targets for fiscal years 2012 and 2013, future demand for its
products and services and revenue for fiscal 2012. Forward-looking statements are
subject to risks and uncertainties that could cause actual results to differ
materially from expectations, including but not limited to: the timeliness and
success of the integration of TomoTherapy; the company's ability to convert
backlog to revenue; the success of its worldwide sales and marketing efforts; the
extent of market acceptance for the company's products and services; the
company's ability to develop and bring to market new or enhanced products;
continuing uncertainty in the global economic environment; and other risks
detailed from time to time under the heading "Risk Factors" in the company's
report on Form 10-K for fiscal year 2011 filed on September 19, 2011, and in
reports on Form 10-Q for the first and second quarters of fiscal 2012.
Forward-looking statements speak only as of the date the statements are made and
are based on information available to the company at the time those statements
are made and/or management's good faith belief as of that time with respect to
future events. The company assumes no obligation to update forward-looking
statements to reflect actual performance or results, changes in assumptions or
changes in other factors affecting forward-looking information, except to the
extent required by applicable securities laws. Accordingly, investors should not
put undue reliance on any forward-looking statements.
Accuray Incorporated
Unaudited Condensed Consolidated Statements of Operations
(in thousands, except per share data)
Three Months Ended December 31,Six Months Ended December 31,
---------------------------------------------------------------------------------------
2011201020112010
-----------------------------------------------------------------------------------
Net revenue:
Products$63,802$35,271$119,976$55,187
Services42,09718,84685,49836,580
Other5241291,400547
----------------------------------------------
Total net revenue106,42354,246206,87492,314
Cost of revenue:
Cost of products32,80013,25671,17320,753
Cost of services33,17711,38070,52623,180
Cost of other203144504678
----------------------------------------------
Total cost of revenue66,18024,780142,20344,611
-----------------------------------------------------------------------------------
Gross profit40,24329,46664,67147,703
Operating expenses:
Selling and marketing14,0177,98727,59815,747
Research and development19,8749,31340,43917,360
General and administrative13,6638,48128,63217,040
----------------------------------------------
Total operating expenses47,55425,78196,66950,147
-----------------------------------------------------------------------------------
Income (loss) from operations(7,311)3,685(31,998)(2,444)
Other income (expense), net(4,513)676(7,371)2,292
-----------------------------------------------------------------------------------
Income (loss) before provision for income taxes(11,824)4,361(39,369)(152)
Provision for income taxes367263905390
-----------------------------------------------------------------------------------
Net income (loss)(12,191)4,098(40,274)(542)
Noncontrolling interest(1,804)-(3,377)-
-----------------------------------------------------------------------------------
Net income (loss) attributable to stockholders$(10,387)$4,098$(36,897)$(542)
Net income (loss) per share:
Basic$(0.15)$0.07$(0.52)$(0.01)
Diluted$(0.15)$0.07$(0.52)$(0.01)
Weighted average common sharesused in computing net income (loss) per share
Basic70,69859,28270,48158,975
Diluted70,69861,37670,48158,975
Cost of revenue, selling and marketing, research and development, and general and administrative expenses include stock-based compensation charges as follows:
Cost of revenue$437$181$995$644
Selling and marketing$151$113$380$357
Research and development$567$620$1,169$1,294
General and administrative$792$1,041$2,012$2,156
Accuray Incorporated
Condensed Consolidated Balance Sheets
(in thousands, except share amounts)
December 31,June 30,
20112011
-------------------------------------------
(unaudited)
Assets
Current assets:
Cash and cash equivalents$148,467$95,906
Restricted cash3,5023,172
Accounts receivable, net of allowance for doubtful accounts of $1,650 and $324 at
December 31, 2011 and June 30, 2011, respectively73,92861,853
Inventories82,88197,836
Prepaid expenses and other current assets12,48121,115
Deferred cost of revenue--current6,8935,840
-------------------------------------------
Total current assets328,152285,722
Property and equipment, net40,82544,823
Goodwill56,18754,474
Intangible assets, net57,86566,039
Deferred cost of revenue--noncurrent2,9452,258
Other assets6,0622,468
-------------------------------------------
Total assets$492,036$455,784
Liabilities and equity
Current liabilities:
Accounts payable$22,017$38,645
Accrued compensation19,17527,406
Other accrued liabilities23,65943,012
Customer advances22,96825,829
Deferred revenue--current83,55268,152
-------------------------------------------
Total current liabilities171,371203,044
Long-term liabilities:
Long-term other liabilities5,7446,321
Deferred revenue--noncurrent5,9976,092
Long-term debt77,468-
-------------------------------------------
Total liabilities260,580215,457
Equity:
Preferred stock, $0.001 par value; authorized: 5,000,000 shares; no shares issued --
and outstanding
Common stock, $0.001 par value; authorized: 100,000,000 shares; issued:7170
73,145,513 and 72,199,837 shares at December 31, 2011 and June 30, 2011,
respectively; outstanding: 71,005,545 and 70,059,819 shares at December 31,
2011 and June 30, 2011, respectively
Additional paid-in capital402,998373,963
Accumulated other comprehensive income2,494127
Accumulated deficit(181,282)(144,385)
-------------------------------------------
Total stockholders' equity224,281229,775
Noncontrolling interest7,17510,552
-------------------------------------------
Total equity231,456240,327
---------------------
Total liabilities and equity$492,036$455,784
Non-GAAP Financial Measures
This press release includes non-GAAP financial measures, as defined in Regulation
G promulgated by the Securities and Exchange Commission, with respect to the
three and six months ended December 31, 2011. "GAAP" refers to generally accepted
accounting principles in the United States.
Accuray closed the acquisition of TomoTherapy on June 10, 2011 and TomoTherapy's
operations since that date are included in Accuray's consolidated results of
operations. Accounting for the impact of this acquisition has resulted in changes
to the value of assets and liabilities from the amounts reflected by TomoTherapy
prior to the acquisition and the creation of incremental assets and liabilities
including intangible assets for developed technology and backlog, and unfavorable
lease obligations. These changes have impacted revenues and expenses recorded in
Accuray's consolidated statements of operations since the close of the
acquisition. In addition, Accuray has incurred significant expenses as a result
of the acquisition, some of which are one-time charges while others are expected
to be incurred over fiscal 2012 for the integration of TomoTherapy.
To reflect the ongoing core results of operations of the Company, including
adjusting for the impact of the acquisition of TomoTherapy, the Company has
presented its operating results on an adjusted non- GAAP basis as well as in
accordance with GAAP for the three and six months ended December 31, 2011. We use
the following measures shown in the following tables, which are not calculated in
accordance with GAAP. All adjustments to reconcile to GAAP relate to the
acquisition of TomoTherapy except the adjustment to Other income (expense). The
Company believes that the presentation of non-GAAP financial measures provides
useful supplementary information to and facilitates additional analysis by
investors. The Company uses these non-GAAP financial measures in connection with
its own budgeting and financial planning, as well as evaluating management
performance for compensation purposes. These non-GAAP financial measures are in
addition to, not a substitute for, nor superior to, measures of financial
performance prepared in conformity with GAAP.
For comparison purposes, we have also presented our pro forma results for the
three and six months ended December 31, 2010 based on the combined total of the
financial results previously reported by Accuray and TomoTherapy as separate
companies, excluding expenses related to the acquisition incurred during this
period. Please refer to the pro forma financial results tables starting on page
10 for additional details.
RevenueThree Months Ended December 31,Six Months Ended December 31,
---------------------------------------------------------------------------------------------------------------------------------
20112011201120102011201120112010
-------------------------------------------------------------------------------------------------------------
GAAPAdjustmentsNon-GAAPPro forma Combined ResultsGAAPAdjustmentsNon-GAAPPro forma Combined Results
-------------------------------------------------------------------------------------------------------------
Products $63,802$135(A)$63,937$83,394$119,976$483 (A)$120,459$133,069
Services 42,097(3,693)(B)38,40432,79485,498(8,761)(B)76,73764,351
Other524-5241291,400-1,400547
-------- -------------------------------------------------------------------------------------------------------------
Total$106,423$(3,558)$102,865$116,317$206,874$(8,278)$198,596$197,967
(A) As of the close of the acquisition, TomoTherapy's deferred product revenue related to products shipped but not yet installed was written down to the fair value of goods and services remaining to be delivered. As a result, during the three and six months ended December 31, 2011, product revenue recorded by Accuray for the sale of TomoTherapy products was $0.1 million and $0.5 million lower than product revenue that would have been recorded by TomoTherapy if the acquisition had not occurred.
(B) As of the close of the acquisition, TomoTherapy's deferred service revenue was written up to fair value. As a result, deferred service revenue recognized by Accuray during the three and six months ended December 31, 2011 was $3.7 million and $8.8 million higher than the amount that would have been recognized by TomoTherapy if the acquisition had not occurred.
Cost of Revenue Three Months Ended December 31,Six Months Ended December 31,
----------------------------------------------------------------------------------------------------------------------------------
20112011201120102011201120112010
--------------------------------------------------------------------------------------------------------------
GAAPAdjustmentsNon-GAAPPro forma Combined ResultsGAAPAdjustmentsNon-GAAPPro forma Combined Results
--------------------------------------------------------------------------------------------------------------
Products$32,800$(4,549)(C)$28,251$36,445$71,173$ (16,040)(C)$55,133$60,175
Services33,177493(D)33,67035,39770,526(3,151)(D)67,37567,536
Other203-203144504-504678
--------------- --------------------------------------------------------------------------------------------------------------
Total$66,180$(4,056)$62,124$71,986$142,203$ (19,191)$123,012$128,389
(C) Products cost of revenue included the following charges arising from the acquisition of TomoTherapy during the three and six months ended December 31, 2011, respectively: $0.7 million and $8.3 million due to the write up of finished goods and work-in-process inventory on hand at the time of the acquisition from cost basis to fair value, $3.8 million and $7.7 million for amortization of intangible assets created by the acquisition, and less than $0.1 million and $0.1 million due to employee severance and retention expenses.
(D) Services cost of revenue included the following charges and reductions to expenses arising from the acquisition of TomoTherapy during the three and six months ended December 31, 2011: $-0- and $3.6 million charge due to the write up of service related inventory on hand at the time of the acquisition from cost basis to fair value, $1.2 million and $2.4 million reductions in expenses due to the roll out of fair value increases in warranty and loss contracts reserves for the periods of service consumed, $0.1 million and $0.2 million charges for property, plant and equipment revaluation, and $0.6 million and $1.8 million charges due to employee severance, integration and retention expenses.
Three Months Ended December 31,Six Months Ended December 31,
--------------------------------------------------------------------------------------------------------------------------
Gross Profit 20112011201120102011201120112010
------------ --------------------------------------------------------------------------------------------------------------
GAAPAdjustmentsNon-GAAPPro forma Combined ResultsGAAPAdjustmentsNon-GAAPPro forma Combined Results
--------------------------------------------------------------------------------------------------------------
Products$31,002$4,684$35,686$46,949$48,803$16,523$65,326$72,894
Services8,920(4,186)4,734(2,603)14,972(5,610)9,362(3,185)
Other321-321(15)896-896(131)
------------ --------------------------------------------------------------------------------------------------------------
Total$40,243$498$40,741$44,331$64,671$10,913$75,584$69,578
Three Months Ended December 31,Six Months Ended December 31,
----------------------------------------------------------------------------------------------------------------
Gross Profit Margin 20112011201120102011201120112010
------------------- ----------------------------------------------------------------------------------------------------
GAAPAdjustmentsNon-GAAPPro forma Combined ResultsGAAPAdjustmentsNon-GAAPPro forma Combined Results
----------------------------------------------------------------------------------------------------
Products48.6%7.2%55.8%56.3%40.7%13.5%54.2%54.8%
Services21.2%(8.9)%12.3%(7.9)%17.5%(5.3)%12.2%(4.9)%
Other61.3%0.0%61.3%(11.6)%64.0%0.0%64.0%(23.9)%
------------------- ----------------------------------------------------------------------------------------------------
Total37.8%1.8%39.6%38.1%31.3%6.8%38.1%35.1%
Three Months Ended December 31,Six Months Ended December 31,
----------------------------------------------------------------------------------------------------------------------------------
Operating Expenses20112011201120102011201120112010
-------------------------- --------------------------------------------------------------------------------------------------------------
GAAPAdjustmentsNon-GAAPPro forma Combined ResultsGAAPAdjustmentsNon-GAAPPro forma Combined Results
--------------------------------------------------------------------------------------------------------------
Selling and Marketing$14,017$(46)(E)$13,971$15,685$27,598$(1,770) (E)$25,828$30,700
Research and Development19,874(583)(F)19,29118,11540,439(884)(F)39,55534,390
General and Administrative 13,663(1,226)(G)12,43714,83528,632(3,607)(G)25,02530,529
-------------------------- -------------------- ---- ------------------------------------------------------- ---- -----------------------------------
Total$47,554$(1,855)$45,699$48,635$96,669$(6,261)$90,408$95,619
(E) For the three months ended December 31, 2011, $0.1 million charge primarily due to employee severance, integration and retention expenses. For the six months ended December 31, 2011, $1.2 million charge due to employee severance and retention expenses, and $0.6 million due to preparation for integration of work forces and operations.
(F) Includes $0.6 million and $0.9 million charges primarily due to employee severance, integration and retention expenses during the three and six months ended December 31, 2011.
(G) For the three months ended December 31, 2011, $0.5 million charge due to employee severance and retention expenses, $0.2 million charge related to preparation for integration of work forces and operations, and $0.5 million charge for property, plant and equipment revaluation. For the six months ended December 31, 2011, $1.5 million charge due to employee severance and retention expenses, $1.2 million chargerelated to preparation for integration of work forces and operations, and $0.9 million charge for property, plant and equipment revaluation.
Net Income (Loss) Attributable to Stockholders
Three Months Ended December 31,Six Months Ended December 31,
------------------------------------------------------------------------------------------------------------------------------------------------
20112011201120102011201120112010
---------------------------------------------------------------------------------------------------------------------------
GAAPAdjustmentsNon-GAAPPro forma Combined ResultsGAAPAdjustmentsNon-GAAPPro forma Combined Results
---------------------------------------------------------------------------------------------------------------------------
Income (Loss) From Operations$(7,311)$2,353(H)$(4,958)$(4,304)$ (31,998)$17,174(H)$ (14,824)$(26,041)
Other Income (Expense)(4,513)959(I)(3,554)586(7,371)1,598(I)(5,773)4,079
Provision For Income Taxes367-367392905-905566
Noncontrolling Interest(1,804)-(1,804)(2,226)(3,377)-(3,377)(4,068)
-------------------------------------------------------------- ---------------------------------------------------------------------------------------------------------------------------
Net Income (Loss) Attributable to Stockholders$ (10,387)$3,312$(7,075)$(1,884)$ (36,897)$18,772$ (18,125)$(18,460)
Net Income (Loss) Per Share - Basic and Diluted$(0.15)$0.05$(0.10)$(0.03)$(0.52)$0.26$(0.26)$(0.27)
Weighted Average Common Shares outstanding - Basic and Diluted 70,69870,69868,395(J) 70,48170,48168,088(J)
(H) Represents impact of all adjustments (A) through (G) on Loss From Operations.
(I) Represents non-cash interest expense arising from the accretion of interest expense on the long-term debt.
(J) Represents weighted average common shares outstanding used to compute our basic and diluted net loss per share as disclosed in our Form 10Q for the three and six months ended December 31, 2010, adjusted to reflect the acquisition of TomoTherapy as if it occurred on July 1, 2010.
Pro forma financial tables
Tables below represent our pro forma results for the three and six months ended
December 31, 2010 based on the combined total of the financial results previously
reported by Accuray and TomoTherapy as separate companies, excluding expenses
related to the acquisition incurred during this period.
RevenueThree Months Ended December 31, 2010Six Months Ended December 31, 2010
-----------------------------------------------------------------------------------------------------------------------------------------
AccurayTomoCombinedAccurayTomoCombined
--------------------------------------------------------------------------------------------------------------
Products$35,271$48,123$83,394$55,187$77,882$133,069
Services18,84613,94832,79436,58027,77164,351
Other129-129547-547
---------------------------------------------------------------------------------------------------------------------------------
Total$54,246$62,071$116,317$92,314$105,653$197,967
Cost of RevenueThree Months Ended December 31, 2010Six Months Ended December 31, 2010
-----------------------------------------------------------------------------------------------------------------------------------------
AccurayTomoCombinedAccurayTomoCombined
--------------------------------------------------------------------------------------------------------------
Products$13,256$23,189$36,445$20,753$39,422$60,175
Services11,38024,01735,39723,18044,35667,536
Other144-144678-678
---------------------------------------------------------------------------------------------------------------------------------
Total$24,780$47,206$71,986$44,611$83,778$128,389
Gross ProfitThree Months Ended December 31, 2010Six Months Ended December 31, 2010
-----------------------------------------------------------------------------------------------------------------------------------------
AccurayTomoCombinedAccurayTomoCombined
--------------------------------------------------------------------------------------------------------------
Products$22,015$24,934$46,949$34,434$38,460$72,894
Services7,466(10,069)(2,603)13,400(16,585)(3,185)
Other(15)-(15)(131)-(131)
---------------------------------------------------------------------------------------------------------------------------------
Total$29,466$14,865$44,331$47,703$21,875$69,578
Gross Profit MarginThree Months Ended December 31, 2010Six Months Ended December 31, 2010
-----------------------------------------------------------------------------------------------------------------------------------------
AccurayTomoCombinedAccurayTomoCombined
--------------------------------------------------------------------------------------------------------------
Products62.4%51.8%56.3%62.4%49.4%54.8%
Services39.6%(72.2%)(7.9%)36.6%(59.7%)(4.9%)
Other(11.6%)-(11.6%)(23.9%)-(23.9%)
---------------------------------------------------------------------------------------------------------------------------------
Total54.3%23.9%38.1%51.7%20.7%35.1%
Operating ExpensesThree Months Ended December 31, 2010Six Months Ended December 31, 2010
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
AccurayTomoAdjustmentsCombinedAccurayTomoAdjustmentsCombined
----------------------------------------------------------------------------------------------------------------------------------------
Selling and Marketing$7,987$7,698-$15,685$15,747$14,953-$30,700
Research and Development9,3138,802-18,11517,36017,030-34,390
General and Administrative8,4816,759(405)14,83517,04013,894(405)30,529
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Total$25,781$23,259$(405)$48,635$50,147$45,877$(405)$95,619
Net Income (Loss) Attributable to StockholdersThree Months Ended December 31, 2010Six Months Ended December 31, 2010
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
AccurayTomoAdjustmentsCombinedAccurayTomoAdjustmentsCombined
----------------------------------------------------------------------------------------------------------------------------------------
Income (Loss) From Operations$3,685$(8,394)$405$(4,304)$(2,444)$(24,002)$405$(26,041)
Other Income (expense)676(90)-5862,2921,787-4,079
Provision For Income Taxes263129-392390176-566
Noncontrolling Interest-(2,226)-(2,226)-(4,068)-(4,068)
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Net Income (Loss) Attributable to Stockholders$4,098$(6,387)$405$(1,884)$(542)$(18,323)$405$(18,460)
Net Income (Loss) Per Share - Basic and Diluted$0.07$(0.12)$(0.03)$(0.01)$(0.35)$(0.27)
Weighted Average Common Shares outstanding - Basic59,28252,90968,395(A)58,97552,42168,088(A)
Weighted Average Common Shares outstanding - Diluted61,37652,90968,395(A)58,97552,42168,088(A)
(A) Represents weighted average common shares outstanding used to compute our basic and diluted net loss per share as disclosed in our Form 10Q for the three and six months ended December 31, 2010, adjusted to reflect the acquisition of TomoTherapy as if it occurred on July 1, 2010. |
