Stereotaxis Q3 Loss Widens - Quick Facts

(RTTNews) - Stereotaxis Inc. (STXS) reported that net loss for the third quarter widened to $56.9 million, or $4.49 per share, from $1.9 million, or $0.25 per share in the third quarter 2012.

The 2013 third quarter results included a $53.4 million expense related to a non-cash, mark-to-market adjustment and accelerated amortization of convertible debt discount as a result of transactions with convertible note holders and other equity investors in August 2013.

Excluding the charge, the net loss for the 2013 third quarter would have been $3.3 million, or $0.26 per share.

Excluding mark-to-market warrant revaluation and amortization of convertible debt discount related to financing in May 2012, the third quarter 2012 adjusted net loss would have been $2.3 million, or $0.29 per adjusted share.

Revenue for the third quarter 2013 totaled $10.8 million, compared to $11.6 million in the prior year third quarter.