CR Bard Earns $1.50 Per Share

For Q3, CR Bard ($BCR) reports earnings of $1.50 per share which is 10 cents more than consensus.

C. R. Bard, Inc. today reported 2013 third quarter financial results. Third quarter 2013 net sales were $758.0 million, an increase of 5 percent over the prior-year period on a reported basis. Excluding the impact of foreign exchange, third quarter 2013 net sales increased 4 percent over the prior-year period.

For the third quarter 2013, net sales in the U.S. were $500.3 million, an increase of 3 percent over the prior-year period. Net sales outside the U.S. were $257.7 million, an increase of 8 percent over the prior-year period on a reported basis. Excluding the impact of foreign exchange, third quarter 2013 net sales outside the U.S. increased 6 percent over the prior-year period.

For the third quarter 2013, net income was $93.2 million and diluted earnings per share were $1.15, a decrease of 28 percent and 23 percent, respectively, as compared to third quarter 2012 results. Adjusting for items that affect comparability of results between periods as detailed in the tables below, third quarter 2013 net income was $122.3 million and diluted earnings per share were $1.50, a decrease of 14 percent and 9 percent, respectively, as compared to third quarter 2012 results.

Timothy M. Ring, chairman and chief executive officer, commented, “We are pleased with the results this quarter, exceeding expectations on both the top and bottom line. Consistent with our plan, we continue to focus on shifting the mix of the portfolio to faster revenue growth through targeted investments and acquisitions. Our business development activities, together with the results this quarter and other recent events, represent important steps in helping us improve the growth profile of the business going forward.”

The shares are up 2.4% in the after hours market.

Posted by on October 22nd, 2013 at 4:35 pm


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