MiniMed Posts 4th-Quarter, Annual Net Income Gains

MiniMed Inc. in Sylmar reported net income for the fourth quarter ended Dec. 31 of $7.4 million compared with $4.8 million for the same period in 1998. Revenue increased to $70.9 million from $45.6 million. Net income for the year ended Dec. 31 rose to $21.9 million from $13 million. Revenue increased to $212.3 million from $138.6 million.

MiniMed designs and manufactures infusion systems for the health-care industry, primarily for the treatment of diabetes.