RTTNews | Feb 25, 2021 10:18AM EST

10:18 Thursday, February 25, 2021 (RTTNews.com) - Tandem Diabetes Care, Inc. (TNDM) shares are gaining more than 12 percent on Thursday morning trade as the company reported a surge in the fourth-quarter earnings as revenue increased 67 percent from last year.

The insulin delivery and diabetes technology company reported an increase in fourth-quarter net profit to $17 million from $2.65 million in the prior year. On a per-share basis, earnings were $0.22 from $0.04 in the previous year.

Sales for the quarter climbed to $168.06 million from $108.39 million a year ago. Looking ahead, the company expects sales in a range of $600-$615 million, up 20-25 percent compared to 2020.

Currently, the shares are at $98.63, up 8.02 percent from the previous close of $91.30. For the 52-week period, the shares have traded in a range of $43.69-$123.74 on average volume of 762.191.

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