Image-guided interventional surgery firm Stereotaxis of St. Louis posted record revenue for its second quarter (end-June 30).
Sales during the period increased 19% to $12.6 million, compared with $10.7 million for the same period in 2008. The company's net loss for the quarter totaled $7.4 million, compared with $12.8 million in the corresponding quarter of 2008.
During the quarter, Stereotaxis recognized revenue on eight Niobe magnetic navigation systems and two Odyssey systems, totaling $8.2 million, while disposables, services, and accessories revenue was $4.5 million, a 62% increase from the same period in 2008.
For the first six months of 2009, revenue totaled $23.8 million, a 34% increase compared to $17.7 million for the same period in 2008. Net loss for the first six months of the year was $15 million versus $26.3 million in 2008.
In other Stereotaxis news, the company has named Daniel Johnston as its new chief financial officer (CFO), effective November 15. He will replace James Stolze, who will retire from the company at the end of the year, Stereotaxis said.
Related Reading
Stereotaxis reports healthy Q1, May 7, 2009
Stereotaxis inks alternative financing deal, March 12, 2009
Stereotaxis launches Odyssey Cinema, October 23, 2008
Stereotaxis reaches Niobe milestone, May 1, 2008
Stereotaxis adds to executive lineup, April 7, 2008
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