MiniMed Reports 80% Quarterly Earnings Jump

MiniMed Inc., a Sylmar manufacturer of infusion systems for diabetes treatment, reported an 80% jump in third-quarter earnings.

In the three months that ended Sept. 27, MiniMed earned $1.26 million, compared to a profit of $703,000 a year before. Its net sales rose 34%, to $14.7 million from $11 million.

For the first nine months of 1996, the company had net income of $2.82 million, compared to profit of $352,000 in the same period a year earlier. Its nine-month net sales grew 33%, to $40.3 million from $30.3 million.

MiniMed said the sales and earnings growth resulted from strong sales of its new insulin infusion pump.