Cyberonics clocks Q4 net profit from year ago loss, beats Street
Shares of Cyberonics, Inc. (Nasdaq:CYBX) got a pop in pre-market trading after the medical technology company said Wednesday night that it recorded a net profit for its fourth quarter from a net loss in the fourth quarter last year. Though earnings included $0.07 in credits from insurance recoveries and state tax credits, earnings still managed to beat the breakeven analysts were projecting.
The firm also issued fiscal 2009 sales inline to above the consensus on Wall Street.
Shares popped 11%, or $1.81, to $19 in pre-market trading. For detailed price information and recent news stories about Cyberonics, click CYBX.
