Cyberonics, a maker of neuromodulation devices, boosts sales in Q1

Cyberonics ($CYBX) said net sales shot up more than 14% to $68.9 million during the fiscal 2014 first quarter and net income grew at a healthy clip to more than $8.6 million. The Houston, TX, maker of a brain implant for treatment-resistant depression said it got a boost from license revenue, but has had to adjust guidance for income from operations, net income and diluted earnings per share due to a litigation settlement. During the quarter, Cyberonics bought back 205,000 shares as part of an ongoing share repurchasing program. Item

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