Cyberonics (NASDAQ:CYBX) Shares Reports Q2 Profit, Raises Guidance

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Cyberonics, Inc. (NASDAQ:CYBX) rose 1.31% to $16.24 after it 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.

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