Bard Grows Revenue and Income in Q1

Medtech titan, C. R. Bard, Inc. saw first quarter 2015 net sales increase by 3 percent (5 percent on a constant currency basis) over the equivalent period a year ago, to $819.7 million.

Background

For the first quarter 2015, net sales in the U.S. were $574.1 million, an increase of 4 percent over the prior-year period. Net sales outside the U.S. were $245.6 million, a decline of 1 percent over the prior-year period on an as-reported basis. Excluding the impact of foreign exchange, first quarter 2015 net sales outside the U.S. increased 8 percent over the prior-year period.

For the first quarter 2015, net income was $139.8 million and diluted earnings per share were $1.82, a decrease of 6 percent and 2 percent, respectively, as compared to first quarter 2014 results. Adjusting for certain items that affect comparability between periods, first quarter 2015 net income was $142.4 million and diluted earnings per share, after adjusting for certain items that affect comparability between periods and excluding amortization of intangible assets, were $2.10, an increase of 6 percent and 10 percent, respectively, as compared to first quarter 2014 results.

Company comments

Timothy M. Ring, chairman and chief executive officer, commented, “Our results in the first quarter represented a good start to what is an important year of execution for us, as we once again exceeded our expectations for both sales and earnings per share. In 2015, we expect the returns from our strategic investment plan to begin to contribute to the improved long-term growth profile of the business.”

Source: Business Wire

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