Cyberonics Q1 Profit Rises; Re-affirms FY14 Guidance - Quick Facts

(RTTNews) - Cyberonics Inc. (CYBX) reported that its first-quarter net income increased to $8.67 million or $0.31 per share, from $8.07 million or $0.29 per share, last year. Adjusted non-GAAP net income was $13.45 million or $0.48 per share, for the quarter.

On average, nine analysts polled by Thomson Reuters expected the company to report profit per share of $0.46 for the quarter. Analysts' estimates typically exclude special items. Net sales were $68.87 million, compared to $60.32 million last year. Analysts expected revenue of $67.80 million for the quarter. Cyberonics re-affirmed guidance for fiscal 2014. The company expects its net sales to be in the range of $279 million to $283 million; and adjusted non-GAAP income per share to be in the range from $1.93 to $2.01. Analysts expect the company to report fiscal 2014 profit per share of $1.98 on revenue of $281.69 million.