Cyberonics Inc. Receives NASDAQ Extension For Filing Forms 10-K And 10-Q

HOUSTON, Dec. 29 /PRNewswire-FirstCall/ -- Cyberonics, Inc. (Nasdaq: CYBX - News; the "Company") today announced that it received a letter from the NASDAQ Listing Qualifications Panel ("NASDAQ Panel") granting the Company an extension through January 29, 2007 to file its Annual Report on Form 10-K for the fiscal year ended April 28, 2006 and its Quarterly Reports on Form 10-Q for the periods ended July 28, 2006 and October 27, 2006.

As previously disclosed, the Company has been responding to governmental investigations relating to the Company's stock option grants and other matters, and the Audit Committee of the Company's Board of Directors has conducted an independent review of all stock options granted by the Company since 1993. The Audit Committee completed its review in November, and the Company and its independent registered public accountants are working diligently to prepare the Company's reports to be filed with the Securities and Exchange Commission ("SEC").

On December 19, 2006, the Company informed the NASDAQ Panel that it did not expect to be able to meet the December 31, 2006 deadline for filing its delinquent SEC reports and requested an extension through January 27, 2007 to bring current its delinquent reports. In a December 28, 2006 letter, the NASDAQ Panel extended through January 29, 2007 the Company's deadline for filing its delinquent reports.

ABOUT CYBERONICS

Information on Cyberonics, Inc. is available at http://www.cyberonics.com .

Source: Cyberonics, Inc.