Insulet Reports 1Q 2013 Results: New Pod Statement
Scott Benner
"We are pleased with the initial launch of the new, smaller and lighter OmniPod in the U.S.," said Duane DeSisto, President and Chief Executive Officer of Insulet. "Our customers and healthcare professionals have been sharing their positive feedback about the reduced size, ease of use and change to the insulin on board calculation. Demand for the new OmniPod has been tremendous with referrals and initial shipments up by more than 40% over the last two months as compared to the prior year. In the coming weeks, we expect to begin converting the existing customer base to the new OmniPod and continue to expect the transition to be completed by the end of the third quarter."
The rest of the report is here.
The following is from the May 6, 2013 Insulet Earnings Call. The quote was brought to my attention by the TuDiabetes User, Erik. I then listened to the call to verify the quote as accurate. It can be found 05:47 into the call.
"With this significant uptick in demand, we did make the decision to delay the transition of existing customers for approximately 90 days in order to build additional OmniPod supply. While the manufacturing process continues to improve, we had an unexpected component issue that resulted in lower than planned production in the latter part of Q1. While this component issue was quickly identified, and remedied in conjunction with both Flextronics and the supplier, we determined it most prudent to build inventory and insure that both manufacturing lines were operating efficiently before we commence the transition of over 45 thousand customers to the new OmniPod. At this point, we expect that conversion will start in the next few weeks, and remain confident that nearly all customer will be transitioned by the end of the third quarter."