Inventory probe delays Accuray earnings filing

SUNNYVALE, Calif. - Accuray Inc. said Thursday it will delay reporting its latest earnings to investigate allegations from a former employee that inventories were mishandled.

The company said in a statement it is still reviewing its results for the first fiscal quarter 2009, ended Sept. 27, and will be late filing it with government regulators. The company said it has hired an independent auditor to investigate allegations by the former employee of "possible improprieties in handling and accounting for 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.

(This version CORRECTS headline to read that it inventory probe)

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