TMCNet: Hansen Medical Q3 net loss decreases

[November 26, 2012]

Hansen Medical Q3 net loss decreases

Nov 26, 2012 (Datamonitor via COMTEX) -- Hansen Medical, Inc., a developer of intravascular robotics, has reported that net loss for the third quarter ended September 30, 2012 was $8.43 million, or $0.14 loss per share, compared to a net loss of $10.14 million, or $0.18 loss per share, for the same quarter ended September 30, 2011.


Revenues for the third quarter of 2012 were $5.10 million, compared to $5.36 million for the same quarter of 2011.

Net loss for the nine months ended September 30, 2012 was $23.27 million, or $0.52 loss per share, compared to a net loss of $7.23 million, or $0.13 loss per share, for the same period ended September 30, 2011.

Revenues for the nine months ended September 30, 2012 were $13.29 million, compared to $15.96 million for the same period ended September 30, 2011.

"To have our Magellan Robotic System installed in multiple prestigious centers only four months after receiving US clearance is a significant accomplishment for the Company," said Bruce Barclay, Hansen Medical's president and CEO. "We believe our recently initiated limited commercial evaluation program will help accelerate the ramp of clinical cases, allowing us to close system sales more efficiently, and further grow our pipeline of potential transactions. Our improved procedure rate in the third quarter, driven primarily by our base electrophysiology business, is indicative of the significant value we believe physicians and hospitals can derive from our systems." http://www.datamonitor.com Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Datamonitor shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon

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