Cyberonics releases fiscal 2007 results: OraSure's revenue increases 32% in first quarter," Synovis has 47% jump in surgical business in second quarter; Possis Medical increases third-quarter sales by 7%; Jabil reports significant increases in FY 2006.

CYberonics Inc., an implantable device manufacturer based in Houston, TX, closed its FY 2007, ended April 27, with a 6% gain in net sales, which totaled $131 million, compared to $123 million for the previous year.

The bulk of sales came from US markets, which contributed $111 million, with international sales totaling nearly $20 million.

After a difficult year in which the company saw its Vagus Nerve Stimulation device rejected for reimbursement by the Centers for Medicare and Medicaid Services when used for treatment of depression, Cyberonics finished its fiscal year with a net loss of $10.8 million for the fourth quarter, compared to a net loss of $4.3 million in FY 2005. In addition, net sales for the quarter decreased by $4.6 million to $31.4 million, compared to the fourth quarter of FY 2006.

OraSure's Revenue Up 32%

OraSure Technologies Inc of Bethlehem, PA reported that its first-quarter revenue increased 32% to $20.1 million from the first quarter of 2006.

The manufacturer of oral fluid diagnostics attributed the achievement to strong sales of the company's OraQuick Advance rapid HIV1/2 antibody test, substance abuse testing products and cryosurgery products, as well as increased R&D for its rapid hepatitis C test

Domestic revenue for the first quarter, ended March 31, was $16.3 million, while revenue outside the United States was $4.8 million.

Synovis Sees 47% Jump in Surgical Business in Q2

St. Paul, MN-based Synovis Life Technologies Inc. reported net revenue of $16.6 million in the second quarter ended April 30, an 11% jump from the second quarter of 2006.

The company's strongest performer was its surgical business unit, which achieved record net revenue of $9.1 million, a 47% increase from the same period in FY 2005 and an 8% gain over the first quarter of FY 2007.

Synovis' interventional business revenue, on the other hand, decreased over a oneyear period from $8.7 million in F-Y 2006 to $7.5 million in FY 2007. However, the second-quarter results were a 31% increase from revenue reported in the first quarter.

Possis Medical Increases Q3 Results by 7%

Minneapolis, MN-based Possis Medical reported that for its third quarter of FY 2007, ended April 30, net sales rose 7% to $16.2 million from the third quarter of 2006.

The endovascular medical device manufacturer increased its net income to $44,000 from a net loss of $278,000 reported in the same period a year ago. The company attributes higher sales to the financial performance of its Ultra systems line of products.

The company anticipates fourth-quarter net sales of $17 million to $18 million, with total net sales for FY 2007 (ending July 31) projected at $65 million to $66 million.

Jabil Reports Sales Bump in FY 2006

St. Petersburg, FL-based Jabil Circuit, Inc. had a very good year indeed. The provider of electronic products and manufacturing services reported that for FY 2006, ended Aug. 31, net revenue increased 36% to $10.3 billion, compared to $75 billion in FY 2005. Core operating income jumped 20% to $391.6 million, or 3.8% of net revenue, compared to $327.1 million, or 4.3% of net revenue, reported in the previous year.

Jabil closed the fiscal year strongly, with net revenue increasing 45% to $3 billion in the fourth quarter, ended Aug. 31, 2006, up from $2 billion in 2005. The company took a loss of $45.6 million, though it was less than the loss recorded in the year prior.