Image-guided interventional surgery firm Stereotaxis of St. Louis posted sharply lower revenues and a sharp uptick in losses for its 2006 fiscal first quarter (end-March 31).
For the period, the firm posted revenue of $1.7 million, a steep decline from the $5.1 million in revenue reported for the same period last year. Stereotaxis rolled up $14.6 million in losses for the quarter, a 100% increase compared with losses of $7.3 million for the fiscal 2005 first quarter.
The firms said that its sales cycle, similar to other companies selling capital equipment to hospitals, is relatively long and can be subject to changes from quarter to quarter, as hospital budget decisions and equipments installation schedules are often subject to last-minute delays.
The company said it continues to expect that total revenue for the 2006 fiscal year (end-December 31) will be in the range of $26 million to $30 million.
By AuntMinnie.com staff writers
May 10, 2006
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