Cyberonics Inc. (CYBX)

[Tuff-Stuff]

$16.03cl UPah>Cyberonics beats by $0.12, beats on revs; guides FY10 revs in-line~



Cyberonics posts higher Q2 profit, ups FY2010 rev view
Wed Nov 18, 2009 6:18pm ES

* Q2 EPS $1.73 vs yr-ago $0.14

* Q2 rev up 13 pct to $40.7 mln

* Raises FY 2010 rev outlook

* Shares up 5 pct after-market

Nov 18 (Reuters) - Medical-device maker Cyberonics Inc (CYBX.O) posted a higher quarterly profit, helped by strong growth in its epilepsy business and a non-cash tax gain, and raised its full-year 2010 revenue outlook.

For the second quarter ended Oct. 23, the company earned $50.1 million, or $1.73 per share, compared with $8.4 million, or 14 cents a share, in the year-ago period.

Revenue rose to $40.7 million from $36.0 million last year.

Excluding items, the company earned 32 cents a share.

U.S. net product sales attributable to the epilepsy indication rose 16 percent to $33.2 million.

The company recorded a non-cash tax benefit of $40.5 million.

Analysts on average expected earnings of 20 cents a share, excluding special items, on revenue of $39.9 million, according to Thomson Reuters I/B/E/S.

For fiscal 2010, the company now expects revenue of $159 million to $162 million, up from its prior view of $157 million to $161 million.

It now sees income from operations for fiscal 2010 of between $28 million and $30 million, up from the earlier view of $24 million to $27 million.

Shares of the company rose 5 percent to $16.90 in after-market trade. They closed at $16.03 Wednesday on Nasdaq. (Reporting by Shailesh Kuber in Bangalore; Editing by Unnikrishnan Nair)