Accuray (NASDAQ: ARAY) delivered a disastrous performance in 2019, with the stock sinking 17% in a great year for most stocks. However, 2020 is turning out to be a much different story. Heading into this week, Accuray's shares were up nearly 40%. The stock enjoyed another positive catalyst with Accuray reporting its fiscal 2020 second-quarter results after the market closed on Tuesday. Here are the highlights from the company's Q2 update. Image source: Accuray. By the numbers Accuray announced Q2 revenue of $98.8 million, a decrease from the $102.3 million reported in the same quarter of the previous year. However, this result beat the average analysts' revenue estimate of $97.73 million. The company reported net income in the second quarter of $10.7 million, or $0.12 per share, based on generally accepted accounting principles (GAAP). This reflected significant improvement from the net loss of $4.6 million, or $0.05 per share, recorded in the prior-year period. It also was much better than the consensus Wall Street expectation of a net loss of $0.07 per share. Accuray also said that its net orders in Q2 jumped 30% year over year to $89.9 million. Its total backlog at the end of the second quarter totaled $539.4 million, up 12% from the same period in fiscal 2019. Behind the numbers The company's product revenue in the second quarter fell to $43.8 million from $48.1 million in the prior-year period. This was partially offset by an increase in service revenue to $55.1 million from $54.3 million in fiscal 2019 Q2. Although Accuray's revenue slipped, its bottom line looked much better thanks to the company keeping a lid on spending. Research and development costs fell 4% year over year to just under $13.1 million. Selling and marketing expenses dropped by 25% in Q2 from the prior-year period to $11.3 million. General and administrative spending declined by nearly 6% to $9.9 million. Accuray also benefited from other income of $7.8 million in the second quarter of fiscal 2019 compared to an expense of $3.3 million in the year-ago period. This other income in the recent quarter stemmed from a non-cash special gain related to the company's capital contribution to a joint venture in China. Looking ahead Accuray still expects that revenue for full-year 2020 will be between $410 million and $420 million. However, the company now anticipates adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for the year will be between $21 million and $26 million, up from the previous range of $19 million and $24 million. While some healthcare stocks could be impacted by the coronavirus scare in China, Accuray CEO Joshua Levine said that the company doesn't think "the outbreak affects the longer-term demand outlook for radiotherapy equipment in China." He added, "China remains the world's fastest growing market for radiation oncology systems where we have a highly differentiated strategy to drive significant revenue growth in the coming years." 10 stocks we like better than AccurayWhen investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. After all, the newsletter they have run for over a decade, Motley Fool Stock Advisor, has tripled the market.* David and Tom just revealed what they believe are the 10 best stocks for investors to buy right now... and Accuray wasn't one of them! That's right -- they think these 10 stocks are even better buys. See the 10 stocks *Stock Advisor returns as of December 1, 2019 Keith Speights has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.Source