West Des Moines, Iowa – U.S. Rep. Michele Bachmann of Minnesota announced Wednesday she is quitting her presidential campaign following a disappointing sixth-place showing in the Iowa Republican caucuses Tuesday.

“Last night, the people of Iowa spoke with a very clear voice. So I have decided to stand aside,” Bachmann told reporters at a news conference at the Marriott West Des Moines. "I believe that if we are going to repeal Obamacare, turn our country around and take back our country, we must do so united. I believe we must rally around the person that our country and our party and our people select to be that standard-bearer."

"I have no regrets," she continued, with her husband, mother and children at her side. "None whatsoever. We never compromised our principles... We made a very important contribution to this race."

Bachmann said she would continue to pursue the issues she highlighted during the race, including scrapping the federal healthcare overhaul. She has not discussed whether to make an endorsement in the race or run for reelection in Congress, a campaign spokeswoman said.

"Right after the results came in she made a point to call all the other candidates and congratulated them for how things went," said campaign spokeswoman Alice Stewart. "She thinks the world of all of them personally and respects all of them. They all had really nice conversations. But in terms of endorsing -- that has not come up. This was a lot. This was an emotional decision to enter the race and it is certainly one to exit."

Bachmann collected 5 percent of the vote, placing behind former Massachusetts Gov. Mitt Romney, 25 percent; former U.S. Sen. Rick Santorum of Pennsylvania, 25 percent; U.S. Rep. Ron Paul of Texas, 21 percent; former House Speaker Newt Gingrich, 13 percent; and Texas Gov. Rick Perry, 10 percent.

Bachmann is the second Republican to quit the race since last month. Businessman Herman Cain of McDonough suspended his campaign last month amid sexual harassment allegations, which he vigorously denied.

And on Tuesday, Perry said he was returning to Texas to “assess the results of tonight’s caucus and determine whether there is a path forward for myself in this race."