Hansen sees increased losses for Q3, despite higher EP sales

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Hansen Medical, a provider of flexible robotics and developer of robotic technology for 3D control of catheter movement, has reported its financial results for the 2008 third quarter, which ended Sept. 30.

The Mountain View, Calif.-based company reported a net loss for the 2008 third quarter including total non-cash stock compensation expense of $2.7 million, of $12 million. The net loss for the third quarter of 2007, including non-cash stock compensation expense of $2.5 million, was $10 million, based on average basic and diluted shares outstanding of 21.6 million shares.

Hansen said its total revenue for the third quarter was $10.9 million, a 214 percent increase compared to revenue of $3.5 million in the same period in 2007. The company recognized revenue on 14 Sensei Robotic Systems, including nine systems configured with the CoHesion module, as well as on shipments of 423 Artisan control catheters.