The news sent PODD shares up 5.5% in a single day on Feb. 28 after the company hosted its earnings call with investors.
February was a shaky month for Insulet’s shares, which lost 2.1% from an open of $23.05 at the start of the month to a close of $22.57 on Feb. 28.
Insulet last month also announced FDA clearance for its latest generation of the OmniPod diabetes management system. The next-generation device features a smaller, lighter insulin pump and a wireless Personal Diabetes Manager that can can communicate with the pump from up to 5 feet away.
The diabetes devices maker also made strides in boosting sales over the last year.
Insulet reported a 22.5% boost in revenues during its 4th quarter, as well as a 29% decrease in losses compared with the same period last year.
Insulet posted losses of $10.2 million, or 21¢ per share, on sales of $57.8 million for the 3 months ended Dec. 31, 2012. That compared with losses of $14.3 million, or 30¢ per share, on sales of $47.2 million during the same period in 2011.
The company’s 4th quarter EPS beat analysts’ estimates by a single penny.
Full-year losses increased by about 13% to $51.9 million, or $1.08 per share, compared with losses of $45.8 million, or 98¢ per share, during 2011. Sales grew by 38.8% over the course of the year to $211.4 million, compared with $152.3 million during 2011.
The company projected 2013 revenues in the range of $240-$255 million, with about $56-$59 million of that in the 1st quarter.