Cyberonics Inc – ‘10-Q’ for 9/30/99 – EX-18

On:  Monday, 11/15/99   ·   For:  9/30/99   ·   Accession #:  950129-99-4991   ·   File #:  0-19806

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Quarterly Report   —   Form 10-Q
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Cyberonics, Inc. - Dated September 30,1999            21     78K 
 2: EX-18       Letter Regarding Change of Accounting Principles       1      7K 
 3: EX-27       Financial Data Schedule                                1      5K 

EX-18   —   Letter Regarding Change of Accounting Principles

EX-18
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                                                                      EXHIBIT 18

September 30, 1999                                                              

Cyberonics, Inc.                                                                
16511 Space Center Blvd.                                                        
Suite 600                                                                       
Houston, Texas 77058                                                            

Re:  Report for the quarter ended September 30, 1999                            

Gentlemen/Ladies:                                                               

This letter is written to meet the requirements of Regulation S-K calling for a 
letter from a registrant's independent accountants whenever there has been a    
change in accounting principle or practice.                                     

We have been informed that, as of July 1, 1999, the Company changed from the    
double declining method of accounting for depreciation to the straight-line     
method. According to the management of the Company, this change was made to     
better match revenues and expenses taking into account the nature of these      
assets and Cyberonics' business.                                                

A complete coordinated set of financial and reporting standards for determining 
the preferability of accounting principles among acceptable alternative         
principles has not been established by the accounting profession. Thus, we      
cannot make an objective determination of whether the change in accounting      
described in the preceding paragraph is to a preferable method. However, we have
reviewed the pertinent factors, including those related to financial reporting, 
in this particular case on a subjective basis, and our opinion stated below is  
based on our determination made in this manner.                                 

We are of the opinion that the Company's change in method of accounting is to an
acceptable alternative method of accounting, which, based upon the reasons      
stated for the change and our discussions with you, is also preferable under the
circumstances in this particular case. In arriving at this opinion, we have     
relied on the business judgement and business planning of your management.      

We have not audited the application of his change to the financial statements of
any period subsequent to June 30, 1999. Further, we have not examined and do not
express any opinion with respect to your financial statements for the three     
months ended September 30, 1999.                                                

Very truly yours,                                                               

Arthur Andersen, LLP                                                            

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-Q’ Filing		Date		Other Filings
Filed on:		11/15/99
For Period End:		9/30/99
		7/1/99
		6/30/99		10-K
				List all Filings