UPDATE 1-Cardica posts narrower Q4 net loss

* Q4 loss/shr $0.22 vs est loss/shr $0.23

* Q4 rev $2.0 mln vs $2.8 mln yr ago

* Shares slump 29 pct

Aug 13 (Reuters) - Medical device maker Cardica Inc (CRDC.O) posted a narrower-than-expected quarterly loss, helped by lower expenses, but said it was unable to provide product revenue outlook for fiscal 2010, sending its shares down 29 percent.

The company said it is unable to provide an outlook due to the transition of its cardiac surgery business to a small core direct sales force supported by independent distributors and manufacturer's representatives.

For the fourth quarter ended June 30, the company posted a net loss of $3.5 million, or 22 cents a share, compared with a loss of $4.8 million, or 31 cents a share, a year ago.

Revenue dropped about 29 percent to $2 million.

Cash, cash equivalents and investments at June 30 were $5.3 million, the company said.

For fiscal 2010, Cardica expects its cash and cash equivalents to decline by about $2.5 million per quarter in fiscal 2010, without giving effect to any financing transactions.

The company said it continued to evaluate a variety of strategic and financing alternatives.

Shares of the company fell to $1.51 in trading after the bell. They closed at $2.12 Thursday on Nasdaq.

For the alerts, please double-click [ID:nWNBB5334] (Reporting by Shailesh Kuber in Bangalore; Editing by Deepak Kannan)