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Hansen Medical, Inc. (NASDAQ:HNSN) delivered a profit and beat Wall Street’s expectations, BUT 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 0.43%.
Hansen Medical, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased to $0.15 in the quarter versus EPS of $-0.16 in the year-earlier quarter.
Revenue: Decreased 29.66% to $4.34 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Hansen Medical, Inc. reported adjusted EPS income of $0.15 per share. By that measure, the company beat the mean analyst estimate of $-0.14. It missed the average revenue estimate of $5.92 million.
Quoting Management: “2012 was a strong year for Hansen Medical, as we achieved one of the most significant milestones in the Company’s history with the receipt of FDA clearance for our Magellan Robotic System, and the subsequent first system sale and clinical cases in the U.S.,” said Bruce Barclay, Hansen Medical’s President and Chief Executive Officer. “The Magellan System has the potential to be a significant growth driver for our business and to transform the way endovascular procedures are performed. Since commencing the initial U.S. launch of the Magellan System in June, we have generated a large and growing pipeline of clinical interest in our robotic technology through live case demonstrations and multiple presentations by leading physicians at prominent industry conferences. While the difficult macroeconomic environment has caused hospitals to prolong their evaluation period for new technologies, we anticipate that at least nine Magellan Systems will be installed in hospitals by the end of the first quarter, and I expect that the adoption of our technology will grow as physicians generate additional clinical data.”
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