TomoTherapy Inc. (TOMO) Announces Third Quarter Financial Results; Expects Profitability in the Fourth Quarter
TomoTherapy Incorporated (NASD: TOMO), producer of the Hi•Art® treatment system for advanced radiation therapy, recently released financial results for the third quarter ended September 30, 2008. The company reported revenue of $27.4 million, a 54 percent decline from $59.2 million in the third quarter one-year earlier. TomoTherapy incurred a net loss of $13.0 million, or $0.26 per share, compared to net income of $2.6 million, or $0.05 per share, for the third quarter of 2007. Despite the expected decrease in revenue for the quarter, management anticipates revenue of $70 million to $90 million and earnings per share in the range…