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SUNNYVALE, Calif. - Accuray Inc. said Thursday it will delay reporting its latest earnings to investigate potential mishandling of its accounting by a former employee.
The company said in a statement it is still reviewing its results for the the first fiscal quarter 2009, ended Sept. 27, and will be late filing it with government regulators. The company has hired an independent auditor to investigate allegations that the former employee misreported certain inventory items.
Accuray makes robotic surgical devices and began trading publicly in February 2007 at a price of $21 per share.
Shares of Accuray Inc. fell 99 cents, or 16.5 percent, to $5 in afterhours trading. Earlier in the day shares fell 56 cents, or 8.6 percent, to $5.99 in regular trading.
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Data is a real-time snapshot *Data is delayed at least 15 minutes