Hansen Medical Inc., which makes medical robotic technology used with catheters, on Thursday said its fourth-quarter loss narrowed on rising product sales and lower costs.
However, the loss was bigger than analysts expected, and the company's sales also fell short of estimates.
For the quarter ended Dec. 31, the company lost $14.9 million, or 59 cents per share, compared with a loss of $23.9 million, or $1.10 per share, during the same period a year prior. Revenue rose to $7.3 million from $4.2 million.
Analysts polled by Thomson Reuters expected a loss of 53 cents per share on revenue of $9 million.
"Adoption rates for our technology have been strong, with an installed base of 55 systems worldwide since we began commercial shipments in May 2007," Chief Executive Frederic Moll said in a statement.
Meanwhile, the company cut expenses to $16.9 million from $24.4 million.
For the full year, the company lost $53.4 million, or $2.21 per share, compared with a loss of $50.4 million, or $2.33 per share, in 2007. Revenue rose to $30.2 million from $10.1 million.
Shares of Hansen Medical fell 3 cents to close at $5.32.
via yahoo
However, the loss was bigger than analysts expected, and the company's sales also fell short of estimates.
For the quarter ended Dec. 31, the company lost $14.9 million, or 59 cents per share, compared with a loss of $23.9 million, or $1.10 per share, during the same period a year prior. Revenue rose to $7.3 million from $4.2 million.
Analysts polled by Thomson Reuters expected a loss of 53 cents per share on revenue of $9 million.
"Adoption rates for our technology have been strong, with an installed base of 55 systems worldwide since we began commercial shipments in May 2007," Chief Executive Frederic Moll said in a statement.
Meanwhile, the company cut expenses to $16.9 million from $24.4 million.
For the full year, the company lost $53.4 million, or $2.21 per share, compared with a loss of $50.4 million, or $2.33 per share, in 2007. Revenue rose to $30.2 million from $10.1 million.
Shares of Hansen Medical fell 3 cents to close at $5.32.
via yahoo
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