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Stereotaxis Reports Second Quarter Financial Results; Rebalances Investment Around Commercialization of Epoch™ and Odyssey™
Date:8/8/2011

illion, compared to $25.6 million in the first six months of 2010.  Gross margin was $15.3 million, or 70.1% of revenue, compared with $17.8 million, or 69.4% of revenue in the first six months of the prior year.  Operating expenses were $33.6 million for the first six months of 2011 compared with $29.7 million in the same period of 2010.  The net loss was $(19.2) million for the first six months of 2011 compared with $(12.3) million for the comparable period of 2010.  Cash burn for the first six months of 2011, including payments against the Biosense Webster advance, was $16.9 million compared with $14.2 million in the first six months of 2010.  Stereotaxis has historically included the repayment of the Biosense advance as part of cash burn as operationally the advance is reduced by the earning of royalties.  Of the $16.9 million in year-to-date cash burn, $3.2 million is repayment of Biosense debt.

Financial OutlookAs a result of corporate developments and an uncertain business environment, Stereotaxis announced that it has withdrawn previous financial guidance and temporarily suspended providing financial guidance for 2011 until there is more predictability to the Company's magnetic platform business.

Conference Call and WebcastStereotaxis will hold a conference call and slide presentation via webcast today, August 8, 2011 at 4:30 p.m. Eastern Time, to discuss second quarter results and operational progress.  The dial-in number for the conference call is 1-877-941-9205 for domestic participants and 1-480-629-9692 for international participants.  Participants are asked to call the above numbers 5-10 minutes prior to the starting time.  A real-time listen-only webcast of the conference call including the presentation slides will be accessible at www.stereotaxis.com, in the "Investor Relations" section under "Events Calendar."  If listening v
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SOURCE Stereotaxis, Inc.
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