Maker of Insulin Pumps Reports Increased Profits
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MiniMed Inc., a Sylmar maker of insulin pumps used by diabetics, said its profit in the fourth quarter that ended Dec. 27 was $1.9 million, up 27% from $1.5 million in the fourth quarter last year.
Sales in the fourth quarter also increased 27% to $18.8 million from $14.8 million.
For all of 1996, the profit was $4.7 million, more than double last year’s profit of $1.8 million. Sales increased 31% to $59.1 million from $45.1 million in the same period last year.
The company attributed the improvement to increased acceptance of its products as an alternative to periodic injections of insulin.
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