Installation delays are leading image-guided interventional surgery firm Stereotaxis to reduce its revenue guidance for the second half of 2010.
For its third quarter (end-September 30), the St. Louis-based firm now expects revenues to range from $13.5 million to $14.0 million, compared with $13.3 million in the third quarter of 2009. In contrast to prior full-year revenue growth estimates in the mid-20% range, revenue is now expected to increase only in the high single-digit percentage range, according to the vendor.
Stereotaxis said that it has been notified by an imaging partner that they will not install any magnetically compatible x-ray systems from the fourth quarter of 2010 until the second quarter of 2011.
In good news, the company reported that it had third-quarter capital orders of $12.2 million, up 94% compared to the same period a year ago. Capital orders for 2010 are projected to grow by approximately 45% to 50% over 2009, an increase compared to previous guidance of a 40% gain.
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