Cyberonics sales hit by FDA rejection
This article was originally published in Clinica
Executive Summary
Cyberonics' summer of discontent has taken its toll as the company recorded a $2m loss in net earnings for the second quarter, a contrast to last year's performance when the company netted a profit of nearly $4m during the same period. Second-quarter revenues also took a 13% fall from the previous year's level to $25.4m.