UPDATE 2-Hansen Medical sees Q2 revenue lower than expected
* Sees Q2 revenue $3.1-$3.3 mln
* Withdraws outlook for system placements for 2009
* Shares fall 32 pct in after-market trade (Adds analyst's comments, updates stock move)
By Anand Basu
BANGALORE, July 6 (Reuters) - Hansen Medical Inc (HNSN.O) reported preliminary second-quarter revenue that fell short of analysts' expectations, citing delay in purchase decisions by customers, sending its shares tumbling 32 percent after market.
"Sensei system sales during the second quarter were adversely affected by general macroeconomic conditions that continue to significantly impact our potential customers' capital spending," Chief Executive Frederic Moll said in a statement.
Several potential customers sought additional approvals prior to making their purchase decision or spent time evaluating alternative financing arrangements, resulting in orders moving out of the quarter, Moll added.
Hansen's Sensei robotic catheter system helps to place mapping catheters within the heart easily, during complex cardiac arrhythmia procedures.
"I was expecting the company to come in weak, I just didn't know to what degree," Needham & Co analyst Sameer Harish said by phone.
However, Harish said the outlook was not as bad as the number suggests, as it included revenue from the sale of only three Sensei systems, while revenue from another three Sensei systems already shipped would be recognised in a later quarter.
The company expects second-quarter revenue of $3.1 million to $3.3 million, while analysts on average expected it to post revenue of $8.7 million, according to Reuters Estimates.
Hansen also withdrew its outlook for system placements for 2009 citing current market conditions.
Shares of the company were down $1.44 to $3.29 in after-market trade. They closed at $4.73 Monday on Nasdaq.
For alerts double-click [ID:nWNAB4640]. (Editing by Ratul Ray Chaudhuri)
