MiniMed Reports Rise in 1st-Quarter Earnings

MiniMed Inc., a Sylmar maker of equipment used to treat diabetics, said its earnings in the first quarter that ended March 29 were $627,000 compared to a loss of $452,000 in the first quarter last year. The gain was on revenues of $12.2 million, up 47% from $8.3 million last year.

The company attributed the increase to wider acceptance of its devices, which are used in place of needles to provide diabetics with insulin.