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Cyberonics provides revised FY03 guidance.(Brief Article)

Medical Devices & Surgical Technology Week

| July 14, 2002 | COPYRIGHT 2009 NewsRX. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

2002 JUL 14 - (NewsRx.com & NewsRx.net) -- Cyberonics, Inc. (CYBX) revised financial guidance for its fiscal year ending April 25, 2003.

Robert P. ("Skip") Cummins, Cyberonics' chairman and chief executive officer commented that in fiscal 2002, Cyberonics led the neuromodulation market leader in terms of annual sales growth, compound annual sales growth, gross margin, working capital management and new indications and device market development. Consistent with the expanding market, he added that "we are revising our FY03 worldwide sales guidance to $90 million which is equivalent to a 28% annual growth rate. Strong sales growth, steady improvements in gross profit …

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Source: HighBeam Research, Cyberonics provides revised FY03 guidance.(Brief Article)

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