>>Piper Jaffray remains buyers of Accuray Inc. ahead of the company's FQ2 results scheduled to be released on Thursday evening. Piper believes there are a number of reasons to be optimistic about ARAY's future at present, including an improving US capital spending backdrop, potential upside from recent strategic alliances, expanded regulatory approval in critical markets and maturing clinical data to support gradual long-term penetration in key applications like lung and prostate.
Piper remains comfortable with its FQ2 estimates which call for revenues of $48.4 MM, slightly shy of consensus at $49.7 MM. It is forecasting gross margin expansion of approximately 270 bps YoY to 48.0% with profitability improvements anticipated in both the company's product and services operating segments. Piper's earnings estimate of -$0.04 is below consensus at -$0.01, though it believes upside to the number is possible.
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