October 26, 2009 / 8:52 PM / 10 years ago

UPDATE 1-Insulet posts wider Q3 loss, raises 2009 rev view

* Q3 loss/shr $0.88 vs $0.78 loss last yr

* Q3 rev falls 85 pct to $18.7 mln

* Raises FY rev view to $64-$66 mln from $58-$65 mln

Oct 26 (Reuters) - Insulin pump maker Insulet Corp (PODD.O) posted a wider quarterly loss, hurt by an interest charge, and the company raised its full-year revenue view on back of an 85 percent jump in its revenue.

For the third-quarter, the company posted a net loss of $24.7 million, or 88 cents a share, compared with a loss of $21.7 million, or 78 cents a share, in the year-ago quarter.

Revenue rose to $18.7 million from $10.1 last year.

Analysts on average were expecting the company to post a loss of 70 cents a share, before special items, on revenue of $16.9 million, according to Thomson Reuters I/B/E/S.

Insulet incurred a one-time non-cash interest charge of $7.6 million from the amendment of a credit facility, which increased its net interest expense to $11.2 million from $1.8 million last year, the company said in a statement.

The company now expects an operating loss of $58 million to $60 million for the full year, compared with its previous forecast of $55 million to $60 million.

Shares of the Bedford, Massachusetts-based company closed at $8.98 Monday on Nasdaq. (Reporting by Anuradha Ramanathan in Bangalore; Editing by Pradeep Kurup)

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