St. Louis Business Journal -- Stereotaxis Inc. narrowed its loss slightly in the third quarter to $5.1 million from $5.8 million a year earlier.
Revenue totaled $13.9 million for the quarter ended Sept. 30, up nearly 5 percent from $13.3 million in the third quarter 2009, the St. Louis medical device maker said Monday.
The company said revenue growth for the second half of 2010 was hurt by installation delays.
Last month, Stereotaxis cut its 2010 revenue forecast due to equipment installation delays at customers’ sites. A supplier that makes magnetically X-ray systems that are compatible with Stereotaxis’ equipment is having production constraints, Stereotaxis said at the time.
The company now expects full-year revenue to grow in the high single-digit percentage range over 2009 revenue of $51.1 million, down from a previous estimate of the mid-20 percent range.
St. Louis-based Stereotaxis (Nasdaq: STXS), led by President and Chief Executive Michael Kaminski, designs and manufactures cardiology instruments used in the treatment of arrhythmias and coronary artery disease.
