TomoTherapy shows Q2 revenue gains, income losses

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Radiation therapy treatment system manufacturer TomoTherapy reported strong growth in revenues for its fiscal 2007 second quarter (end-June30), but saw a steep increase in net losses for the period.

For its 2007 second quarter, the Madison, Wis.-based firm reported revenue of $43.7 million, a 37 percent increase compared with the $31.9 million in revenues stated for the second quarter of 2006.

The net loss attributable to common shareholders was $103.3 million, compared with a net loss of $20.4 million for the prior year period. These results include the accretion of redeemable convertible preferred stock of $102.6 million and $22.7 million for the three months ended June 30, 2007 and 2006, respectively, the company noted.

Excluding the preferred stock accretion, the pro forma net loss was $653,000 for the second quarter of 2007, compared with pro forma net income of $2.3 million for the prior year period.