Company said customers delayed purchases into third quarter
The developer and maker of medical robotics Hansen Medical Inc. (Nasdaq: HNSN) recently announced preliminary second-quarter revenue revealing a significant plunge below Wall Street’s estimates, citing pullbacks in customer purchase commitments during the deepening global recession, Reuters reported.
The Mountain View, Calif.-based company said some customers required additional approval or alternative financing arrangements before placing orders, pushing purchasing decisions during the quarter into the next quarter.
“Sensei system sales during the second quarter were adversely affected by general macroeconomic conditions that continue to significantly impact our potential customers’ capital spending,” CEO Frederic Moll stated in the press release.
“I was expecting the company to come in weak, I just didn’t know to what degree,” Needham & Co analyst Sameer Harish said.
But Harish said sales for the quarter aren’t as bad as it may appear, as revenue from three systems already shipped will be reported for the third quarter.
The company’s Sensei robotic catheter system positions catheters within the heart more easily and accurately during certain cardiac procedures.
Hansen anticipates revenue for the second quarter to total $3.1 million to $3.3 million, compared with Thomson Reuters estimate of $8.7 million, and $7.1 million in revenue posted in the first quarter.
The company shipped approximately 626 Hansen Artisan catheters in the most recent quarter, compared with approximately 600 during the first quarter, it said.
Hansen provided no further guidance, withdrawing its previous revenue estimates for the remainder of 2009 due to uncertain market conditions.
Audited results for the second quarter will be announced in early to mid-August. The mean analyst estimate polled by Thomson Reuters is for the company to earn 36 cents per share, compared with 61 cents per share on revenue of $5.8 million for the second quarter of fiscal 2008.
About Hansen Medical Inc.
Hansen Medical Inc. develops, manufactures, and markets medical robotics designed for accurate positioning, manipulation, and stable control of catheters and catheter-based technologies.
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This newsletter is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Beaconequity.com is a wholly-owned subsidiary of BlueWave Advisors.
While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a real licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.
Hansen Medical expects Revenue to Plunge for the Second Quarter
Posted by BeaconEquity.com on Jul 07, 2009 | No comment
Company said customers delayed purchases into third quarter
The developer and maker of medical robotics Hansen Medical Inc. (Nasdaq: HNSN) recently announced preliminary second-quarter revenue revealing a significant plunge below Wall Street’s estimates, citing pullbacks in customer purchase commitments during the deepening global recession, Reuters reported.
The Mountain View, Calif.-based company said some customers required additional approval or alternative financing arrangements before placing orders, pushing purchasing decisions during the quarter into the next quarter.
“Sensei system sales during the second quarter were adversely affected by general macroeconomic conditions that continue to significantly impact our potential customers’ capital spending,” CEO Frederic Moll stated in the press release.
“I was expecting the company to come in weak, I just didn’t know to what degree,” Needham & Co analyst Sameer Harish said.
But Harish said sales for the quarter aren’t as bad as it may appear, as revenue from three systems already shipped will be reported for the third quarter.
The company’s Sensei robotic catheter system positions catheters within the heart more easily and accurately during certain cardiac procedures.
Hansen anticipates revenue for the second quarter to total $3.1 million to $3.3 million, compared with Thomson Reuters estimate of $8.7 million, and $7.1 million in revenue posted in the first quarter.
The company shipped approximately 626 Hansen Artisan catheters in the most recent quarter, compared with approximately 600 during the first quarter, it said.
Hansen provided no further guidance, withdrawing its previous revenue estimates for the remainder of 2009 due to uncertain market conditions.
Audited results for the second quarter will be announced in early to mid-August. The mean analyst estimate polled by Thomson Reuters is for the company to earn 36 cents per share, compared with 61 cents per share on revenue of $5.8 million for the second quarter of fiscal 2008.
About Hansen Medical Inc.
Hansen Medical Inc. develops, manufactures, and markets medical robotics designed for accurate positioning, manipulation, and stable control of catheters and catheter-based technologies.
BeaconEquity.com Research Disclosure
DO NOT BASE ANY INVESTMENT DECISION UPON ANY MATERIALS FOUND ON THIS REPORT. We are not registered as a securities broker-dealer or an investment adviser either with the U.S. Securities and Exchange Commission (the “SEC”) or with any state securities regulatory authority. We are neither licensed nor qualified to provide investment advice. BeaconEquity Research nor its affiliates have a beneficial interest in the mentioned company; nor have they received compensation of any kind for any of the companies listed in this communication. The information contained in our report is not an offer to buy or sell securities. We distribute opinions, comments and information free of charge exclusively to individuals who wish to receive them.
About BeaconEquity.com
BeaconEquity.com is committed to producing the highest-quality insight and analysis of small-cap stocks, emerging technology stocks, hot penny stocks and helping investors make informed decisions. Our focus is primarily OTC stocks in the stock market today, which have traditionally been shunned by Wall Street. We have particular expertise with renewable energy stocks, biotech stocks, oil stocks, green energy stocks and internet stocks. There are many hot penny stock opportunities present in the OTC market everyday and we seek to exploit these hot stock gains for our members before the average daytrader is aware of them.
Beacon Equity Group Disclaimer
This newsletter is a paid advertisement and is neither an offer nor recommendation to buy or sell any security. We hold no investment licenses and are thus neither licensed nor qualified to provide investment advice. The content in this report or email is not provided to any individual with a view toward their individual circumstances. Beaconequity.com is a wholly-owned subsidiary of BlueWave Advisors.
While all information is believed to be reliable, it is not guaranteed by us to be accurate. Individuals should assume that all information contained in our newsletter is not trustworthy unless verified by their own independent research. Also, because events and circumstances frequently do not occur as expected, there will likely be differences between the any predictions and actual results. Always consult a real licensed investment professional before making any investment decision. Be extremely careful, investing in securities carries a high degree of risk; you may likely lose some or all of the investment.