Minimed Reports Record Revenue in 4th Quarter

Minimed Inc., a Sylmar maker of devices for diabetes treatment, reported record revenue in the fourth quarter that ended Dec. 29.

Fourth-quarter revenues were $14.8 million, up 31% from $11.3 million the same quarter the previous year. The company earned $1.46 million, up from a $130,000 profit in the fourth quarter a year ago.

For all of 1995, earnings were $1.8 million compared to a net loss of $900,000 in 1994. Revenues for the year were $45.1 million, up 24% from $36.3 million a year ago.

The company attributed the fourth-quarter results to increased acceptance of its mechanical insulin pumps among diabetics. The pumps attach to the body and deliver insulin continuously, freeing diabetics from the need to periodically inject themselves with the drug.