Hansen Medical 3Q loss narrows on lower costs

AP News
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Posted: Nov 16, 2009 5:58 PM

Hansen Medical Inc., which makes medical robotic technology used with catheters, said Monday its third-quarter loss narrowed as the company lowered costs.

Hansen said it lost $11.9 million, or 32 cents per share, compared with a loss of $12.9 million, or 51 cents per share a year earlier. Per-share results in the most recent quarter were based on about 12 million additional shares of common stock.

Revenue fell sharply to $4.6 million from $9.6 million.

Analysts polled by Thomson Reuters had forecast a loss of 33 cents per share and revenue of $5.8 million, on average.

"The current economic environment continues to create challenges in expanding the sale of capital equipment in the early stages of commercialization like our Sensei Robotic Catheter System," said President and CEO Dr. Frederic Moll, in a statement.

The company said it recognized revenue on the sale of five Sensei Robotic Systems, and shipped five others. Hansen also sold 497 Artisan Control Catheters in the third quarter.

Operating expenses fell 19 percent to $13 million from $16.2 million.

Shares of Hansen rose 9 cents, or 3.2 percent, to $2.82 in after-hours trading after shedding 27 cents, or 9 percent, to close at $2.73 during the regular trading session.