Hansen Medical Announces Preliminary Fourth Quarter 2008 Revenue Results and Provides Preliminary 2009 Outlook
09 1월 2009 - 6:05AM
Marketwired
Hansen Medical, Inc. (NASDAQ: HNSN), the global leader in flexible
robotics and the developer of robotic technology for accurate 3D
control of catheter movement, today announced preliminary revenue
results for the fourth quarter of 2008 and provided a preliminary
2009 outlook.
For the fourth quarter, Hansen Medical shipped 11 Sensei systems
and expects to recognize revenue on the sale of 10 systems. The
eleventh system shipped in the fourth quarter should be recognized
as revenue in the first quarter of 2009. For the full 2008 year,
the company expects to recognize revenue on 40 systems. The lower
than expected system sales were due primarily to the sluggish
global macroeconomic environment and credit tightening that
resulted in a number of potential customers postponing orders for
the company's Sensei systems.
"The economic downturn and its effect on our customers' capital
spending has been more dramatic than we anticipated when we
provided our fourth quarter and full year outlook for system
sales," said Frederic Moll, M.D., co-founder and chief executive
officer of Hansen Medical. "As economic conditions continued to
deteriorate during the fourth quarter, several potential customers
who appeared to be on track to purchase Sensei systems during the
quarter postponed their orders due to capital spending constraints.
While this will impact our near term operating results, I remain
confident in our ability to grow our business going forward. We are
not aware of any of these delayed fourth quarter orders having been
cancelled, but instead believe they remain under consideration for
future purchases. In addition, I continue to be impressed with the
enthusiasm expressed for our technology by clinicians who indicate
they are better able to perform complex interventional procedures
using the Sensei system. I also believe Hansen Medical's superior
value proposition gives us a competitive advantage over our primary
competitor whose system requires a significantly larger up-front
investment," said Dr. Moll.
The company expects 2008 fourth quarter revenues to be in the
range of $7.1 million to $7.4 million. In addition to the 10 Sensei
systems, revenues for the quarter are expected to include the
shipment of approximately 520 Artisan catheters. The expected range
and components of 2008 fourth quarter revenue are estimates pending
the audit of the company's financial results for the year ended
December 31, 2008 and accordingly are subject to change.
Hansen Medical currently expects to recognize revenue on 53 to
65 systems for 2009. "Among other factors, this range takes into
account the uncertainty around the length and severity of the
current economic recession and the impact it will have on our
potential customers," said Dr. Moll.
Hansen Medical will provide complete financial results,
including an update on its outlook for 2009, in its regularly
scheduled 2008 fourth quarter and full year press release and
conference call. The exact timing and details of this press release
and conference call will be announced in the near future.
About Hansen Medical, Inc.
Hansen Medical Inc., based in Mountain View, Calif., develops
products and technology using robotics for the accurate
positioning, manipulation and control of catheters and
catheter-based technologies. Its first product, the Sensei(TM)
Robotic Catheter system, is a robotic navigation system that
enables clinicians to place mapping catheters in hard-to-reach
anatomical locations within the heart easily, accurately and with
stability during complex cardiac arrhythmia procedures. The Sensei
system is compatible with fluoroscopy, ultrasound, 3D surface map
and patient electrocardiogram data and was cleared by the U.S. Food
and Drug Administration (FDA) in May 2007 for manipulation and
control of certain mapping catheters in Electrophysiology (EP)
procedures. The safety and effectiveness of the Sensei system for
use with cardiac ablation catheters in the treatment of cardiac
arrhythmias, including atrial fibrillation (AF), have not been
established. In the European Union, the Sensei system is cleared
for use during EP procedures, such as guiding catheters in the
treatment of AF. Additional information can be found at
www.hansenmedical.com.
Forward-Looking Statements
This press release contains forward-looking statements
regarding, among other things, statements relating to expectations,
projections, estimates, goals, plans, objectives and future events.
We intend such forward-looking statements to be covered by the safe
harbor provisions for forward-looking statements contained in
Section 21E of the Exchange Act and the Private Securities
Litigation Reform Act of 1995. Examples of such statements include
statements about the company's expected operational and financial
results for prior periods and projected operational and financial
results for future periods. These statements are based on the
current estimates and assumptions of our management as of the date
of this press release and are subject to risks, uncertainties,
changes in circumstances, assumptions and other factors that may
cause actual results to differ materially from those indicated by
forward-looking statements. Important factors that could cause
actual results to differ materially from those indicated by such
forward-looking statements include, among others, the impact of the
global macroeconomic environment and credit tightening and related
impacts on spending by our potential customers, the risk that
changes in expected Q4 2008 results arise during the completion of
our 2008 financial statements and the audit of those statements,
and the risks and uncertainties inherent in our business, including
potential safety and regulatory issues that could slow or suspend
our sales; our ability to effectively sell, service and support our
products; the rate of adoption of our systems and the rate of use
of our catheters at customers that have purchased our systems; our
ability to successfully scale our manufacturing capabilities; our
reliance on third-party manufacturers and suppliers that could
adversely affect our ability to manufacture products on a timely
basis; the scope and validity of intellectual property rights
applicable to our products; competition from other companies; and
our ability to obtain additional financing to support our
operations. These and other risks are described in greater detail
under the heading "Risk Factors" contained in our periodic SEC
filings, including our Quarterly Report on Form 10-Q filed with the
SEC on November 5, 2008. Given these uncertainties, you should not
place undue reliance on the forward-looking statements in this
press release. We undertake no obligation to revise or update
information herein to reflect events or circumstances in the
future, even if new information becomes available.
"Sensei," is a trademark of Hansen Medical, Inc., and "Hansen
Medical," "Hansen Medical and Heart Logo," and "Hansen Medical
Heart Logo" are registered trademarks of Hansen Medical, Inc. in
the United States and other countries.
Investor Contact: Steven Van Dick 650.404.5800 Email Contact
News Media Contact: Amy Cook 925.552.7893 Email Contact Lasse
Glassen Financial Relations Board 213.486.6546 Email Contact
Hansen Medical, Inc. (MM) (NASDAQ:HNSN)
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