Cyberonics posts narrower FY08 Q2 loss
Cyberonics, Inc. (Nasdaq: CYBX) today reported a narrower-than-expected net loss for the second fiscal quarter of 2008.
For the three months ended Oct. 26, 2007, the neuromodulation company clocked a net loss of $4.1 million, or $0.15 per share, narrower than the consensus of seven analysts surveyed by Thomson of a net loss of $0.22 per share and narrower than a loss of $12.5 million, or $0.49 per share, booked in the same period last year.
Net sales were $28.9 million, compared with $34.1 million earned in the second quarter of fiscal 2007. Seven analysts surveyed by Thomson were on average forecasting revenues of $30.89 million.
Shares of Cyberonics (CYBX) were halted in pre-market trading.
