upwards. Just saw this on Twitter as the play tomorrow.
"In the third quarter, Insulet continued to grow rapidly and deliver solid results, doubling gross profit from a year ago," said Duane DeSisto, President and Chief Executive Officer of Insulet. "We continue to work proactively with the FDA on the next generation OmniPod, as well as on a CGM augmented system in partnership with DexCom. Despite the timing delays due to the changing regulatory landscape, we are committed to remaining the leading innovator in this industry and are hopeful that our next generation pod will be launched in the second half of 2011."
For the nine months ended September 30, 2010, revenue increased 51% to $69.2 million from $45.8 million for the first nine months of 2009. Gross profit for the first nine months of 2010 was $29.9 million, or a 43% gross margin, as compared to a gross profit of $11.0 million, or a 24% gross margin, in the first nine months of 2009. Operating loss for the first nine months ended September 30, 2010 was $28.9 million as compared to an operating loss of $47.4 million in the first nine months ended September 30, 2009. Net loss for the first nine months of 2010 was $40.3 million, or $1.04 per share, compared to $56.8 million, or $2.04 per share, for the first nine months of 2009.