Cyberonics, Inc. (CYBX) reported that its third-quarter net income increased to $13.18 million or $0.47 per share from $9.50 million or $0.34 per share prior year. Net sales improved to $62.70 million from $54.54 million last year.
On average, nine analysts polled by Thomson Reuters expected the company to report profit of $0.38 per share for the quarter. Analysts' estimates typically exclude special items. Analysts expected revenue of $60.59 million for the quarter.
Cyberonics adjusted its fiscal 2013 guidance for net sales to the range of $248 million to $250 million, and adjusted profit per share to the range of $1.66 to $1.72. The prior guidance was for net sales range of $246 million to $249 million, and adjusted profit per share range of $1.56 to $1.62. Analysts expect the company to report fiscal 2013 profit per share of $1.60, and revenue of $247.77 million.
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