This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Hansen Medical's CEOs Discuss 1Q 2012 Financial Results - Earnings Call Transcript

Stocks in this article: HNSN

As you've seen from today's press release, there is a growing level of interest and excitement for our Magellan Robotic System, as a result of positive growing and clinical experience in Europe and the progress we're making in the U.S. with our pending 5-PenK application.

In the first quarter revenues were $4.7 million which is down 12% from a year ago period. We shipped three systems, all in the U.S., two Sensei systems and one vascular research system and recognized revenue on four systems in total. As is the case for many companies doing business in Europe, the economic environment in that region has been challenging. Not surprisingly this is resulting in hospitals taking a more careful view of their capital investments.

We are experiencing longer sales cycles as hospitals consider the clinical and economic benefits for all capital outlays. Further, capital sales cycles have always been about 6 to 18 months even in the best of times. In spite of this we continue to see strong clinical interest in our Magellan system, and we are engaged with several hospitals to develop deal structures that address their economic needs and allow them to complete their internal approval process.

We continue to anticipate the completion of multiple deals over the coming quarters. Pete will provide more color on the first quarter financial results in a few minutes.

I'll start with a review of our vascular business. As we discussed in the past, flexible robotics in vascular applications is a key growth driver for the business. And we believe it will revolutionize the way endovascular procedures are performed. Our initial focus, the peripheral vasculature, presents a significant market opportunity one that we believe is anywhere from five to seven times larger than for electrophysiology. Peripheral vascular disease affects an estimated 27 million patients worldwide according to published industry studies.

Read the rest of this transcript for free on seekingalpha.com

3 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,614.81 +215.14 1.31%
S&P 500 1,941.28 +37.27 1.96%
NASDAQ 4,419.4780 +103.4040 2.40%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs