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Stereotaxis Reports First Quarter 2011 Financial Results
Date:5/2/2011

ST. LOUIS, May 2, 2011 /PRNewswire/ -- Stereotaxis, Inc. (NASDAQ: STXS) today reported financial results for the first quarter ended March 31, 2011.  First quarter results included continued strong momentum in new capital orders and revenue for the Company's Odyssey™ systems and growth in recurring revenue.  In addition, the Company announced that its new Stereotaxis Epoch™ platform, which enhances the efficiency and versatility of the Niobe system, will be unveiled at the Heart Rhythm Society's (HRS) 32nd Annual Scientific Sessions in San Francisco during May 5-7, 2011.

Revenue for the first quarter 2011 totaled $10.2 million, compared to $10.6 million in the first quarter 2010.  The Company recognized revenue of $1.4 million in Niobe® robotic systems.   As the Company previously announced, installation delays due to production constraints with one of its imaging partners impacted revenue growth during the first quarter 2011.  Odyssey systems revenue in the first quarter totaled $2.7 million, compared to $0.8 million in the first quarter 2010.  Disposables, services and accessories revenue for the quarter ended March 31, 2011 was $5.9 million, up 10.3% from the year-ago quarter.

"The continued strong momentum for Odyssey in the first quarter reflects the growing market demand from both standard and robotic electrophysiology (EP) labs for this unique data integration and clinical networking platform," said Michael P. Kaminski, President and Chief Executive Officer of Stereotaxis.  "We remain focused on establishing our Niobe robotic platform as a new standard of care for EP interventional medicine, and will introduce at the upcoming HRS annual meeting our Stereotaxis Epoch solutions system that we believe dramatically enhances efficiency and versatility of robotic interventional procedures while offering improved safe
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SOURCE Stereotaxis, Inc.
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