California-based Accuray, parent of Madison’s TomoTherapy, saw a significant drop in sales in January, and sales of its stock sank to their lowest point since late 2011. The company also announced a private debt offering of as much as $85 million in convertible senior notes.
Accuray’s fiscal second quarter ending Dec. 31 showed a net loss of $29.2 million (40 cents/share) on revenues of $77.8 million. A year earlier, the company reported a net loss of $10.4 million (15 cents/share) on revenues of $106.4 million.
In January, Accuray announced it would cut staff by 13% as part of a plan to reduce costs by $40 million a year, and in Madison, it had already consolidated three of its locations into two.
