(RTTNews) - Monday after the bell, medical robotics developer Hansen Medical, Inc. (HNSN: News ), posted a narrower loss for the third quarter, compared to the year-ago on lower expenses; despite a decline in revenue.

Hansen Medical's third-quarter net loss narrowed $11.9 million from a net loss of $12.9 million last year. On a per share basis, net loss was $0.32, compared to $0.51 in the year-ago period.

This quarter's results include a non-cash stock compensation expense of $1.6 million with outstanding of 37.4 million shares, while prior-year quarter results include a non-cash stock compensation expense of $2.7 million with outstanding of 25.1 million shares.

Analysts polled by Thomson Reuters expected a net loss of $0.33 for the quarter. Analysts' estimates typically exclude one-time items.

Third-quarter revenue decreased 52% to $4.6 million from $9.6 million in the year-ago period. Analysts expected revenue of $5.8 million for the quarter.
Total operating expenses declined to $13.03 million from $16.18 million in the prior-year quarter.
Research and development expenses decreased to $4.9 million from $7.2 million due to a
decline in outside services, materials and overhead expenses. Selling, general and administrative expenses were $8.2 million, down from $8.9 million last year.

For the nine-month period, Hansen Medical's net loss narrowed to $40.74 million or $1.25 per share from net loss of $41.98 million or $1.76 per share in the prior-year. Revenue declined to $14.96 million from $18.08 million.

HNSN closed Monday's regular trading session at $2.73, down $0.27, on the Nasdaq.

To receive FREE breaking news email alerts for HANSEN MEDICAL INC and others in your portfolio

by RTT Staff Writer

For comments and feedback: contact editorial@rttnews.com