Cyberonics Q3 Loss Jumps, Sales Rise

Houston, TX-based Cyberonics reported that its third quarter loss grew almost 18 times larger than in the same quarter in 2005 because of increased spending to launch its implantable nerve stimulator to treat severe depression, according to Reuters news services. Despite the growing losses revenue jumped 19% to $31 million. For the quarter ending January 27, the company reported a loss of $14.6 million compared with a loss of $817,287. CEO Robert P. Cummins said Cyberonics would continue to reallocate its resources and focus on its core priorities over the next five quarters.