MiniMed Shows 46% Jump in 3rd-Quarter Earnings

MiniMed Inc. posted a 46% increase in its third-quarter earnings on a 29% jump in sales.

For the three months that ended Sept. 26, MiniMed reported a net income of $1.9 million, compared with a $1.3-million profit a year ago. Sales for the latest quarter rose to $18.9 million, compared to $14.7 million in 1996.

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

For the nine months, MiniMed posted a profit of $4.5 million, up 60% from $2.8 million a year ago. Nine-month sales rose 27% to $51.2 million, up from $40.3 million a year earlier.