MOUNTAIN VIEW, Calif. (AP) — Conceptus Inc. said Thursday that its fourth-quarter revenue was less than expected because of weaker demand for its Essure birth control procedure.
The company said its fourth quarter sales will be between $36.3 million and $36.6 million. That's a decrease of 1 to 2 percent from a year ago. Conceptus said demand for Essure — a non-incisional permanent birth control method — usually increases in the fourth quarter, as there is usually an increase in demand for non-urgent care procedures. But that increase didn't materialize in 2010 as fewer women visited their OB/GYNs.
Conceptus had forecast $39 million to $41 million in revenue for the fourth quarter, and Thomson Reuters says analysts were expecting $39.3 million.
As a result, Conceptus said its total revenue for the year will between $140.4 million to $140.7 million, up 7 to 9 percent from 2009. It had expected $143 million to $145 million in revenue.
Analysts had forecast revenue of $143.4 million.
Conceptus shares slid 26 cents to $13.24 during the regular trading session. After the release of the sales guidance, it tumbled another 74 cents, or 5.6 percent, to $12.50 in aftermarket trading.