August 19, 2009 / 9:43 PM / in 10 years

UPDATE 1-Cyberonics Q1 profit tops Street, backs FY10 outlook

* Q1 EPS $0.23 vs est $0.16

* Q1 revenue up 14 pct to $38.5 mln

* Reiterates fiscal 2010 outlook

* Shares up 2 pct

Aug 19 (Reuters) - Medical-device maker Cyberonics Inc CYBX.O posted better-than-expected first-quarter results, helped by strong performance at its epilepsy business, and reaffirmed its fiscal 2010 outlook.

For the quarter ended July 24, the company earned $7.9 million, or 23 cents per share, compared with $2.1 million, or 8 cents a share, in the year-ago period. Revenue rose 14 percent to $38.5 million.

Analysts were expecting a profit of 16 cents a share, before items, on revenue of $37.3 million, according to Reuters Estimates.

For full year 2010, the company reiterated its revenue view of $157 million to $161 million and income from operations of $24 million to $27 million.

Shares of the company were up 2 percent at $17.82 after the bell. They closed at $17.42 Wednesday on Nasdaq.

For the alerts, please double-click [ID:nWNBB7493] (Reporting by Shailesh Kuber in Bangalore; Editing by Vinu Pilakkott)

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