CYBX Up After Earnings: New Highs and New Trading Territory

Cyberonics Inc. (NASDAQ:CYBX) today released Fiscal 1Q 2013 results that beat analyst expectations, sending shares up 10% in early trading, only to decline slightly into the noon hour to a 5% gain from yesterday’s close. The company reiterated revenue guidance for fiscal year 2013 of around $242 million and earnings of $1.49-$1.59 per share. Cyberonics markets the Vagus Nerve Stimulation (VNS) Therapy System, which uses a surgically implanted device to deliver electrical pulses to the vagus nerve in the brain, aiding in the treatment of seizure disorders. The company reported sales growth of 15% and income growth of 35% over the same quarter a year ago, which management says is the sixth consecutive quarter of improvement. (more…)