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[IP] Mini med 3rd qtr earnings

Sara, I wouldn't say MM's stock crashed....earnings were  up!
Maybe we should pool our funds and buy some.
- ---Jim Lieb

MiniMed Inc. Announces Record 1998
Third Quarter Sales and Earnings

- - Net Income Increased 71% to $3.2 Million in the Third Quarter -

SYLMAR, Calif., Oct. 21 /PRNewswire/ -- MiniMed Inc. (Nasdaq: MNMD -
news) today
announced financial results for the third quarter ended October 2, 1998.
Sales grew 39% to $34.9
million compared to $25.0 million in the comparable quarter of 1997. Net
income increased at a
significantly higher rate to $3.2 million, or $0.23 per share on a
diluted basis, compared to net
income of $1.9 million, or $0.14 per share on a diluted basis, reported
in the comparable quarter of

For the nine months ended October 2, 1998, sales increased 39% to $93.0
million compared to
$67.1 million in the comparable period of 1997. Net income rose 86% to
$8.3 million, or $0.59 per
share on a diluted basis, compared to net income of $4.4 million, or
$0.33 per share on a diluted
basis, reported in the comparable period of 1997.

Commenting on the quarterly results and other recent developments,
Alfred E. Mann, Chairman and
Chief Executive Officer, stated, ``The third quarter of 1998 was a
landmark period for MiniMed.
This was MiniMed's strongest quarter with respect to sales and earnings,
as we continued to
experience increasing worldwide demand for our external pumps and
related disposable products.
Also, during the third quarter, we took strategic action to position
MiniMed for future growth. We
announced the planned acquisition of Diabetes Support Systems, which we
believe will enable us to
expand our distribution channels and product offerings to our many loyal
patients. The Advanced
Technology Program research grant, which was announced on October 19,
will enable us to further
explore exciting science applications, which may greatly enhance our
long-term product portfolio.
Additionally, we remain pleased at our progress with our first
continuous glucose monitoring system.''

Terrance H. Gregg, President and Chief Operating Officer, commented,
``MiniMed made significant
progress with several new products this quarter. Our latest generation
insulin pump, the Model 507C
(introduced in June), has been very well received. We also introduced
our first generation of
communication accessories that can collect data from our 507 and later
model insulin pumps and our
continuous glucose monitoring systems and enable their information to be
downloaded to a personal
computer. Regarding our continuous glucose monitoring systems, the FDA
inspection of our clinical
records and sensor manufacturing facilities has been completed. We
remain confident that we will be
able to introduce this system within the next few months.''

MiniMed Inc. designs, develops, manufactures and markets advanced
infusion systems primarily for
the intensive management of diabetes. The Company's products include
external pumps and related
disposables, as well as an implantable insulin pump, which is currently
approved for distribution in the
European Community and has not yet been cleared for marketing in the
U.S. The Company also
distributes other diabetes supplies and pharmaceutical products. The
Company has submitted an
application for marketing clearance for a system designed to
continuously monitor glucose levels, is
preparing to introduce other glucose monitoring products, and is
developing new infusion systems to
deliver compounds designed to treat a variety of medical conditions.

This Press Release contains statements that are forward-looking,
including statements relating to
anticipated operating results, the benefits to be derived from the
completed acquisition of Diabetes
Support Systems and from the research grant from Advanced Techology
Program, the development,
regulatory approval, manufacture, introduction, distribution, and
commercial acceptance of new
products, the timing of any regulatory approvals relating to new
products, the ability of current
products to interface with products currently in development, and
MiniMed's future product
portfolio, and are made pursuant to the Safe Harbor provisions of the
Private Securities Litigation
Reform Act of 1995. Investors are cautioned that, although MiniMed
believes that its expectations
are based on reasonable assumptions, forward-looking statements involve
risks and uncertainties
which may affect MiniMed's business and prospects, including changes in
economic and market
conditions, acceptance of MiniMed's products by the health care and
reimbursement communities,
health care legislation and regulation, new developments in diabetes
therapy, the ability to complete
the acquisition of Diabetes Support Systems, the ability to effectively
integrate Diabetes Support
Systems into MiniMed's businesses, the ability to obtain administrative
and regulatory approvals for
products currently in development, competitive developments, and other
factors discussed in the
Company's filings with the Securities and Exchange Commission.

                                 MiniMed Inc.
                        Consolidated Income Statement
              (In thousands, except share and per share amounts)

Insulin-Pumpers website http://www.bizsystems.com/Diabetes/