Hansen Medical, Inc. (NASDAQ:HNSN) had a loss and missed Wall Street’s expectations, AND 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 10.40%.
Hansen Medical, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $-0.2 in the quarter versus EPS of $-0.19 in the year-earlier quarter.
Revenue: Decreased 5.65% to $3.34 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Hansen Medical, Inc. reported adjusted EPS loss of $0.2 per share. By that measure, the company missed the mean analyst estimate of $-0.16. It missed the average revenue estimate of $3.35 million.
Quoting Management: “We are encouraged by the progress we made during the first half of the year, and especially the strong procedure rates and growing utilization, which we believe are indicative of the value physicians and hospitals are deriving from intravascular robotics from Hansen Medical,” said Bruce Barclay, Hansen Medical’s President and Chief Executive Officer. “During the second quarter, we commercialized three robotic systems, delivered both record procedures and catheter sales and achieved our eighth consecutive quarter of procedure growth. Physicians have now performed over 200 clinical cases with the Magellan system and we remain excited about the breadth of clinical cases and positive experiences being generated. Given the growing momentum exhibited in Q2, we are confirming our full-year 2013 outlook for the commercialization of a total of 14 to 17 robotic systems, and increasing our full year procedure guidance to 3,200 to 3,400, from our previous expectation of 3,100 to 3,400, representing potential year over year growth of approximately 19% to 26%. This anticipated procedure growth would be the highest year over year growth since 2010.”
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