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Stereotaxis Announces Third Quarter 2010 Capital Orders of $12.2 Million, Up 94 Percent Year-to-Year
Date:10/13/2010

ST. LOUIS, Oct. 13 /PRNewswire-FirstCall/ -- Stereotaxis, Inc. (Nasdaq: STXS) announced today that the new capital order momentum continued to build in the third quarter of 2010.  The Company generated new capital orders of $12.2 million, which is a 94% increase over the capital orders placed during the third quarter of 2009, and a 19% increase over the second quarter of 2010.  Globally, orders for the Company's Niobe® Remote Magnetic Navigation System totaled $8.1 million, while Odyssey™ system orders increased over 140% from the year ago period to a record $4.1 million.  As a result of the strong third quarter performance, the Company now expects capital orders for 2010 to increase by approximately 45-50% over 2009 levels.  Previously, the Company had guided new orders for 2010 to increase by over 40%.  

Stereotaxis also reported that revenue growth for the second half of 2010 is being impacted by installation delays in the third and fourth quarters.  As a result, revenue in the third quarter of 2010 is now expected to be in the range of $13.5 million to $14.0 million, compared to $13.3 million in the third quarter 2009.  Full year revenue is now expected to grow in the high single digit percentage range versus 2009 revenue of $51.1 million.  Previously, the Company had guided revenue for 2010 to increase in the mid-twenty percent range.  

Contributing to the aforementioned delays, the Company has been notified by an imaging partner that, due to production constraints, they will not install any magnetically compatible x-ray systems from the fourth quarter of 2010 until the second quarter of 2011.  In the fourth quarter, one system is known to be impacted and one to two other customers may switch to a different imaging partner which may cause Niobe installation delays.    In addition to the fourth
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SOURCE Stereotaxis, Inc.
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