Revenues climb at Insulet
BEDFORD, Mass. – Insulet, a provider of insulin pumps for patients with diabetes, reported $58.7 million in revenues for the fourth quarter of 2012, a 23% increase over the same period in 2011. It reported net losses of $10.2 million vs. $14.3 million. For all of 2012, Insulet reported revenues of $211.4 million, up from $152.3 million in 2011, and net losses of $51.9 million vs. $45.8 million. The increase in revenues was fueled by continued growth of the customer base, both domestically and globally, for the OmniPod, an insulin management system, the release stated. For 2013, Insulet estimates revenues will be in the range of $240 million to $255 million. For the first quarter of this year, it estimates revenues will be in the range of $56 million to $59 million.