Stereotaxis Earnings: Here’s Why Investors Don’t Like These Results

Stereotaxis Inc. (NASDAQ:STXS) had a loss and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 42.11%.

Stereotaxis Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased to $-0.37 in the quarter versus EPS of $-0.91 in the year-earlier quarter.

Revenue: Decreased 7.71% to $9.7 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Stereotaxis Inc. reported adjusted EPS loss of $0.37 per share. By that measure, the company beat the mean analyst estimate of $-0.59. It missed the average revenue estimate of $10.8 million.

Quoting Management: William Mills, Stereotaxis Board Chairman and interim Chief Executive Officer, said, “In the second quarter, we achieved sequential improvement in revenue, gross margin and operating loss and secured two orders for our Niobe(NYSE:R) ES system. One of these orders was a second system sale to a leading U.S. healthcare provider, which is one of four major integrated delivery networks in the country to invest in the Epoch(NYSE:TM) platform.

Key Stats (on next page)…

Revenue increased 15.34% from $8.41 million in the previous quarter. EPS decreased to $-0.37 in the quarter versus EPS of $-0.61 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a loss of $0.4 to a loss $0.43. For the current year, the average estimate has moved down from a loss of $1.8 to a loss of $2.03 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)