Key Developments: Cyberonics Inc (CYBX.O)
49.51USD
21 May 2013
$0.39 (+0.79%)
$49.27
$49.05
$49.69
$48.90
231,538
370,462
$56.73
$36.82
Latest Key Developments (Source: Significant Developments)
Cyberonics Inc Raises FY 2013 Guidance
Cyberonics Inc announced that based on the financial and operating results through the third quarter of 2013, the implementation of the medical device tax and the reinstatement of the research and development tax credit, the Company has adjusted the guidance for fiscal 2013 as; net sales guidance in the range from $248 million to $250 million (compared to previous guidance range of $246 million to $249 million, income from operations (now inclusive of the medical device tax) in the range from $75 million to $77 million, compared to previous guidance of $73 million to $75 million exclusive of the medical device tax), Adjusted net income in the range from $46 million to $48 million (compared to previous guidance of $43 million to $45 million) and adjusted diluted earnings per share in the range from $1.66 to $1.72 (compared to previous guidance of $1.56 to $1.62). Guidance for adjusted net income and adjusted diluted earnings per share excludes a loss of $2.5 million (net of tax), or $0.09 cents per share, for an investment write-down in the first quarter, and a gain on warrant liability of $1.3 million, or $0.05 cents per share. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $248 million, net income of $45 million, EBIT of $74 million and EPS of $1.60 for fiscal 2013. Full Article
Cyberonics Inc Approves New Share Repurchase Program Of One Million Shares
Cyberonics Inc announced that its board of directors has approved a new share repurchase program of one million shares. The Company's Board of Directors had previously authorized repurchases of shares in February 2008, February, 2010, June 2011 and November 2011. This new authorization is expected to commence on completion of the current program. Since February 2008, and through October 26, 2012, the company has repurchased over 2.9 million shares for approximately $80 million. Full Article
Cyberonics Inc Reaffirms FY 2013 Guidance-Conference Call
Cyberonics Inc announced that for fiscal 2013, it expects top of $246 million to $249 million, $73 million to $75 million in income from operations, adjusted net income of $43 million to $45 million, and earnings per share (EPS) of $1.56 to $1.62. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $248 million, net income of $45 million, EBIT of $74 million and EPS of $1.60 for fiscal 2013. Full Article
Cyberonics Inc Raises FY 2013 Guidance
Cyberonics, Inc. announced that for fiscal 2013, it expects net sales in the range of $246-$249 million, income from operations to be in the range of $73-$75 million, net income to be in the range of $43-$45 million and diluted earnings per share (EPS) to be in the range of $1.56-$1.62. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $245 million, net income of $43 million, EBIT of $72 million and EPS of $1.57 for fiscal 2013. Full Article
Cyberonics Inc Reaffirms FY 2013 Guidance
Cyberonics, Inc. reaffirmed fiscal 2013 guidance and expects net sales in the range of $241-$244 million, income from operations to be in the range of $70-$72 million. Net income for fiscal 2013 is expected to be in the range of $41.5-$43.5 million. The Company expects diluted earnings per share (EPS) to be in the range of $1.49 to $1.59. According to I/B/E/S Estimates, analysts were expecting the Company to report revenue of $243 million, EBIT of $71 million, net income of $43 million and EPS of $1.56 for fiscal 2013. Full Article
Cyberonics, Inc. Announces License Agreement With Imricor Medical Systems For MRI Compatibility Lead Technology
Cyberonics, Inc. announced that it has entered into an exclusive technology license agreement with Imricor Medical Systems, Inc. to develop Magnetic Resonance Imaging (MRI) compatible leads for use with the VNS Therapy System (Vagus Nerve Stimulation). Imricor Medical Systems, based in Burnsville, Minnesota, is developing MRI electrophysiology tools and has developed the ablation catheter that is designed for use with MRI systems in EP procedures - the Vision catheter. Full Article
Cyberonics, Inc. Issues FY 2013 Guidance In Line With Analysts' Estimates
Cyberonics, Inc. announced that for fiscal 2013, it expects net sales in the range of $241-$244 million, income from operations will be in the range of $70-$72 million. The anticipated amount of the medical device tax, scheduled to be implemented on January 1, 2013, is excluded from income from operations guidance, but included in net income and diluted earnings per share guidance. Net income for fiscal 2013 is expected to be in the range of $41.5-$43.5 million. The Company expects diluted earnings per share (EPS) will be in the range of $1.49 to $1.59. Guidance excludes any unusual items or discrete tax items that may occur during the year, and reflects information available at this time. According to I/B/E/S Estimates, analysts were expecting the Company to report EBIT of $70 million, net income of $43 million, EPS of $1.54 and revenue of $243 million for fiscal 2013. Full Article
Cyberonics, Inc. Raises FY 2012 Guidance
Cyberonics, Inc. announced that it is increasing guidance for fiscal 2012 to a range from $215 million to $217 million from the previously provided range of $213 million to $216 million. The Company now expects that income from operations for fiscal year 2012 will be in the range from $58 million to $60 million, an increase from the prior guidance of $55 million to $58 million. Full Article
Cyberonics, Inc. Announces FDA Approval Of Re-Designed AspireHC Generator For VNS Therapy
Cyberonics, Inc. announced that the United States Food and Drug Administration (FDA) has approved its re-designed AspireHC (High Capacity) generator, which was the subject of a voluntary product withdrawal in August 2011. Full Article
Cyberonics, Inc. Raises FY 2012 Guidance
Cyberonics, Inc.raised fiscal 2012 guidance and expects net sales to be in the range of $213 million to $216 million, as compared to the previously provided range of $212 million to $215 million. The Company now expects that income from operations (EBIT) for fiscal 2012 to be in the range of $55 million to $58 million, as compared to the previously provided range of of $54 million to $57 million. According to I/B/E/S Estimates, analysts were expecting the Company to report EBIT of $55.35 million and revenue of $216 million for fiscal 2012. Full Article
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