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Stereotaxis Reports Record First Quarter Orders
Date:5/6/2008

Record First Quarter Orders of Approximately $13 Million and Record Backlog

of Approximately $66 Million Important Milestone Achieved Toward the Return of the Magnetic Irrigated

Catheter New Product Offerings to be Introduced at Heart Rhythm 2008 Provide Broad

Platform for Accelerated Growth

ST. LOUIS, May 6 /PRNewswire-FirstCall/ -- Stereotaxis, Inc. (Nasdaq: STXS) today reported results for the quarter ended March 31, 2008. Despite the continued unavailability of a partner's magnetic irrigated catheter, revenue for the first quarter was $7.0 million. Revenue from Niobe(R) and Odyssey(TM) systems sales was $4.4 million while disposables, services and accessories revenue was $2.7 million. During the quarter, the Company recorded revenue on the sale of four Niobe systems. During the first quarter of 2007, Stereotaxis reported revenue of $9.2 million, with Niobe systems revenue of $7.2 million and disposables, services and accessories revenue of $2.0 million.

"In face of the continuing lack of availability of our partner's magnetic irrigated catheter, we set a new first quarter record for orders, of which a higher percentage than we had anticipated is expected to be delivered this year," said Bevil Hogg, Chief Executive Officer of Stereotaxis. "Our robust order rate is being driven by the continued strong overall growth in demand for therapies provided by electrophysiologists, the market's positive reception of our Odyssey system, the early first quarter FDA approval of our partner's magnetic irrigated catheter and the excellent patient outcomes and high satisfaction rating by clinicians generated during the first 250 cases using the catheter in Europe. We have not noted any material impact from any cutbacks in U.S. hospital capital spending, have significantly benefited from continued strong overseas demand, and we are heading into our most important clinician co
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SOURCE Stereotaxis, Inc.
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