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Cyberonics Inc Raises FY 2014 Revenue And EPS Guidance; Raises Low End Of Prior FY 2014 EBIT And Net Income Guidance To A Range In Line with Analysts' Estimates


Thursday, 21 Nov 2013 07:00am EST 

Cyberonics Inc announced that for fiscal 2014, it expects net sales to be in the range of $281 million to $285 million as compared to previous guidance of $279 million to $283 million, adjusted non-GAAP income from operations to be in the range of $86 million to $88 million as compared to previous guidance of $85 million to $88 million, Adjusted non-GAAP net income in the range from $54 million to $56 million as compared to previous guidance of $53 million to $56 million and adjusted non-GAAP diluted earnings per share (EPS) will be in the range from $1.97 to $2.03 as compared to previous guidance of $1.93 to $2.01. Guidance for income from operations, net income and diluted earnings per share (EPS) was adjusted by $7.4 million, $4.8 million (net of tax) and $0.17 cents per share respectively, for the litigation settlement recorded in the first quarter of fiscal 2014. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $282 million, EBIT of $86 million, net income of $55 million and EPS of $1.98 for fiscal 2014.