Cyberonics (NSDQ:CYBX) earned a place in the sun on Wall Street over the course of last week, gaining 8.8% by the end of the day Friday after posting healthy 4th-quarter earnings that trumped analysts’ expectations by 3¢. CYBX shares opened at $47.93 on Monday, June 3, and closed at $52.16 on Friday, June 7.
For the 3 months ended April 26, 2013, the Houston, Texas-based company posted an 8.2% increase in profits and a 18.6% jump in sales. Adjusted EPS was 46¢, beating The Street’s estimate by 3 pennies.
The neuromodulation device maker posted 4th-quarter 2013 profits of $11.5 million, or 41¢ per diluted share, on sales of $68.3 million. That compares with Q4 2012 profits of $10.6 million, or 38¢ per diluted share, on sales of $57.6 million, according to a press release.
For the full year profits were $46.4 million, or $1.66 per diluted share, on sales of $254.3 million. That compares with full-year 2012 profits of $36.1 million, or $1.28 per diluted share, on sales of $219 million.
Shares also saw a boost at the start of 2013 after the medical device company said ex-sales rep Andrew Hagerty voluntarily dismissed a wrongful termination lawsuit.