R&D expenses for the three months ended June 30, 2008, decreased to $4.8 million, including a $1.1 million charge related to the re-engineering of the magnetic irrigated catheter, compared to $7.1 million in the same period in 2007.
The Company reported a net loss for the second quarter of 2008 of $12.8 million, or $(0.35) per share. This compares to a net loss of $15.0 million, or $(0.42) per share, in the second quarter of 2007. The weighted average shares for the recent first quarter were 36.5 million compared with 36.2 million in the second quarter of last year.
For the first six months of 2008, revenue totaled $17.7 million compared with revenue of $17.0 million for the first six months of 2007. The Company reported a net loss of $26.3 million through the recent first six month period versus a net loss of $25.5 million for the first six months of 2007. On a per share basis, the first six months net loss in 2008 was $(0.72) compared with $(0.72) in the comparable period of 2007.
Cash and investments at June 30, 2008 totaled $11.8 million, compared to $23.6 million at December 31, 2007.
Conference Call Information
The Company has scheduled a conference call for 8:30 a.m. Eastern Standard Time today to discuss its financial results for the second quarter. To access the conference call, please dial (800) 240-2134. International participants can call (303) 275-2170. An audio replay of the call will be available for seven days following the call at (800) 405-2236 for U.S. callers or (303) 590- 3000 for those calling outside the U.S. The password required to access the replay is 11117361#. The call will also be available on the Internet live and for 90 days thereafter at the following URL:
|SOURCE Stereotaxis, Inc.|
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