MiniMed’s Net Income Up 153% for Quarter

MiniMed Inc. of Northridge reported net income of $18.8 million for the fourth quarter that ended Dec. 29, a 153% increase over net income of $7.4 million for the same period the previous year. Revenue rose 30% to $92.5 million over $70.9 million.

For last year, net income increased 97.1% to $43.2 million, compared with $21.9 million in 1999. Revenue grew 39% to $294.4 million from $212.3 million.

MiniMed designs, develops, manufactures and markets infusion systems used in medical treatment.