MiniMed’s Net Income Increases Ninefold

MiniMed Inc. posted a ninefold increase in its second-quarter net income on a 21% jump in revenues.

For the quarter that ended June 28, MiniMed earned $932,000, compared to a $101,000 profit a year earlier. Sales for the latest quarter rose to $13.34 million, compared to $10.99 million last year.

The Sylmar-based concern makes infusions systems used in treating diabetes.

For the six months, MiniMed posted a profit of $1.6 million, compared to a loss of $351,000 a year ago. Six-month sales rose 32% to $25.6 million, up from $19.3 million a year earlier.