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Stereotaxis Reports Fourth Quarter and Full Year 2007 Financial Results
Date:3/3/2008

"Given the very recent developments concerning the magnetic irrigated catheter, we aren't yet in a position to provide formal guidance for 2008. However, assuming the magnetic irrigated catheter is available for full commercialization by mid-year, and we have reference sites during the second quarter, we can share with you our potential for the year, which represents our internal expectations. First, we believe we can set the stage for substantial revenue growth during 2008 by converting at least 50% of our beginning backlog of approximately $58.4 million to revenue during the year. In addition, we expect to generate a substantial improvement in new order generation vs. 2007, of which $5 to $10 million will be converted to revenue during the year. Based on our preliminary experience in Europe, disposables and other components of recurring revenue are expected to grow by well over 50 percent and we expect to generate an important new source of revenue from the sale of more than 20 Odyssey systems during the course of the year. With this revenue growth rate, we believe our gross margins will approach 70 percent, and we expect to benefit from our planned reduction in overall expenses, centered on R&D, enabling us to hold these below last year's run rate. Finally, with this type of performance in 2008, we would be better positioned to achieve profitability in 2009. As we get further clarity on the status of the magnetic irrigated catheter, we expect to provide specific guidance for the year. At this point, it is difficult to estimate the likely duration or financial impact of this temporary interruption in the commercial launch of the irrigated catheter, but it is reasonable to assume that any delay in the availability of the irrigated catheter could materially impact our revenue and order ramp, particularly during the first half of the year."

"Although we are disappointed with the potential for additional delay in the availability of the magnetic irrigated cath
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SOURCE Stereotaxis, Inc.
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