ST. LOUIS, Oct. 23, 2013 (GLOBE NEWSWIRE) -- Stereotaxis, Inc. (Nasdaq:STXS) today released certain preliminary financial results for the 2013 third quarter in anticipation of its previously announced rights offering of common stock, which is expected to commence in the near future.
- Total revenue of approximately $10.6 million to $11.1 million, with system revenue between $4.4 million and $4.6 million and recurring revenue of approximately $6.2 million to $6.5 million
- One new Niobe® system order added to backlog with an estimated ending capital backlog of $5.2 million to $5.6 million
- Utilization decline of about 11% from the prior year third quarter and 12% from the 2013 second quarter
- Operating expenses of between $8.2 million and $8.6 million
- Non-cash mark-to-market expense primarily related to recent capital transactions with convertible note holders and other equity investors of approximately $50 million
- Cash and cash equivalents of approximately $8.4 million at September 30, 2013 and an estimated quarterly cash burn of $1.0 million to $2.0 million