Sales for the six months ended October 24, 2008 were $69.8 million, an increase of $11.7 million, or 20%, when compared to the same period in fiscal 2008. Product sales in the six-month period attributable to the epilepsy indication were an estimated $67.6 million, an increase of $13.4 million, or 25%, over the comparable period of fiscal 2008.
The gross profit for the second quarter of fiscal 2009 represented 85.6% of net sales compared to 84.2% in the second quarter of fiscal 2008. This increase is primarily a result of higher production volumes and improved manufacturing efficiencies.
Operating expenses were reduced by $1.6 million to $26.3 million for the second quarter of fiscal 2009 from the $28.0 million recorded in the comparable period of fiscal 2008 and were relatively unchanged from the first quarter of the current fiscal year. Operating expenses for the quarter ended October 24, 2008 included $2.6 million for stock-based compensation, materially unchanged from the comparable period of fiscal 2008.
For the six-month period ended October 24, 2008, operating expenses totaled $52.5 million, a reduction of $6.9 million over the same period of fiscal 2008.
For the fourth consecutive quarter, the company reported operating income. During the second quarter of fiscal 2009, the company's income from operations was $4.5 million compared with a loss from operations of $3.6 million in the comparable period of fiscal 2008. This operating profit is the highest ever recorded by the company.
For the six-month period ended O
|SOURCE Cyberonics, Inc.|
Copyright©2008 PR Newswire.
All rights reserved