Harder And Harder To Find A Spark With Accuray

I tend not to like to write frequently about companies, as I believe investing is best approached as a long-term endeavor and not many short-term moves prove to be all that meaningful. I'm making an exception in this case, though, as Accuray (ARAY) continues to offer a lackluster outlook that suggests only modest progress at best.

With fiscal fourth quarter earnings in hand and guidance for the next year in place, it's tough to find much to get excited about. Management has done a good job of handling the balance sheet, and particularly in managing debt in such a way as to avoid large potential dilution, but the basic trends in the business just aren't improving fast enough to give me much incremental new confidence. While there's still upside even on lowered expectation, it will be hard to see how there's much enthusiasm around this name unless and until order growth meaningfully improves.

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Harder And Harder To Find A Spark With Accuray