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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

quarter 2010 impact, it is expected that a small number of Niobe installations will be also be delayed from the first to the second quarter of 2011.

"Naturally we are disappointed that our near term revenue growth is less than expected; nevertheless, we are pleased that the leading indicator of success in the marketplace, new capital orders, continues to strengthen and reflect broad geographic and product line commercial success.  It is important to note that the near term delay in revenue growth is not the result of lost business, but rather the timing of system placements.  Ultimately, we believe that the strengthening of our order backlog will provide us with a larger pool of revenue opportunities resulting in a smaller impact from installation timing shifts like we are reporting today," said Michael P. Kaminski, President and Chief Executive Officer of Stereotaxis.

"The strength in new orders in the third quarter of 2010 and what we expect to book in the fourth quarter of 2010 confirms that we are making strong progress in our key initiatives of driving stronger Niobe reference sites and growing our Odyssey business.  In addition, we expect a record low cash burn for the third quarter of 2010 of less than $2.0 million, which is a combination of strong margins and operational expense control.  We look forward to expanding on the state of business during our third quarter call during the first week of November," Kaminski continued.

About Stereotaxis

Stereotaxis designs, manufactures and markets an advanced cardiology instrument control system for use in a hospital's interventional surgical suite to enhance the treatment of coronary artery disease and arrhythmias. The Niobe® Remote Magnetic Navigation System is designed to enable physicians to complete more complex interventional procedures by providing image guided delivery of catheters and guidewires through the blood vessels and chambers of the heart t
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SOURCE Stereotaxis, Inc.
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