Insulet hits financial milestone

BEDFORD, Mass. – Insulin pump maker Insulet reported revenues of $60.1 million for the second quarter ended June 30, 2013, an 18% increase compared to the same period last year. Gross profit was $26.8 million, compared to $22.3 million. Operating losses decreased to $5.8 million, compared to $10.5 million. The company cited the launch of its new, smaller OmniPod during the first quarter of 2013 as key to growth. "With a greater than 50% year-over-year increase, we shipped a record-setting level of initial orders of the OmniPod in the second quarter,” stated Duane Desisto, president and CEO, in a release. “This robust demand drove strong financial results, and we generated positive quarterly cash flow for the first time in Insulet's history.”