(RTTNews) - Radiation therapy system maker TomoTherapy Inc. (TOMO: News ), Wednesday reported a wider loss for the third quarter, reflecting mainly the absence of a tax benefit recorded in the third quarter of the previous year.

Net loss attributable to shareholders for the third quarter widened to $13.88 million or $0.27 per share from $12.95 million or $0.26 per share in the previous year.

On average, seven analysts polled by Thomson Reuters expected the company to report loss of $0.20 per share. Analysts' estimates typically exclude special items.

Total revenue for the quarter rose 26% to $34.38 million from $27.37 million last year, yet missed analysts revenue expectations of $40.28 million.

Total operating expenses for the quarter were $19.69 million, compared to $22.49 million in the earlier year.

Total other income for the quarter declined to $0.71 million from $1.49 million a year ago.

Income tax expense for the quarter was $0.26 million, compared to a tax benefit of $6.30 million last year.
For the nine-month period, net loss attributable to shareholders was $34.00 million or $0.67 per share, compared to $25.99 million or $0.52 per share in the same period of the previous year. Total revenue for the period declined 10% to $106.08 million from $118.29 million last year.

The company reported a revenue backlog of $140 million as of September 30, 2009. The backlog includes $21 million of equipment orders received during the third quarter of 2009, less $3 million removed from backlog due to a customer failing to make a scheduled payment.

Looking forward to the fourth quarter, the company expects loss per share in the range of $0.06 to $0.23 and revenues in the range of $50 million to $70 million. Analysts expect a loss of $0.14 per share on revenues of $48.82 million for the next quarter.

For the full year 2009, the company expects revenues in the range of $155 million to $175 million. Loss per share is currently expected to range from $0.73 to $0.90, compared to the previous guidance range of $0.65 to $0.90. Analysts expect a loss of $0.74 per share on revenues of $160.81 million for the full year.

TOMO closed Wednesday's regular trading at $3.39, down 0.44 or 11.49%, on a volume of 280K shares on the Nasdaq.

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by RTT Staff Writer

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