Hansen Medical Stock Dips As Q2 Loss Widens On Weak Sales

(RTTNews) - Shares of Hansen Medical Inc. (HNSN) declined around 13 percent in the extended trading on Thursday after the intravascular robotics company reported wider loss in its second quarter with sharp decline in sales.

Net loss for the second quarter was $12.5 million, compared to a net loss of $12.29 million for the same period in 2014. Net loss attributable to common stockholders was $33.5 million, compared to loss of $12.29 million last year

The latest results included a $20.2 million beneficial conversion feature of Series A convertible preferred stock and $0.8 million cumulative dividend on Series A convertible preferred stock, both non-cash charges.

Net loss per share was $0.21, compared to loss of $0.11 in 2014.

Total revenue was $3.1 million, a decrease of 55% from $6.9 million a year ago. The Company sold no systems in the second quarter of 2015, compared to five systems sold in 2014.

The Company continues to show an increase in volume of catheters sold for vascular by selling 204 catheters in the second quarter of 2015, up 187% compared to the same period in the prior year.

The Company sold 892 catheters, compared to 928 catheters sold a year ago.

In the results trading, shares gained 2.44 percent, but declined 13.10 percent in the after hours trading to settle at $0.840.