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Bard Reports 2008 Results

C.R. Bard, Inc. (Bard) has reported net sales of $2.45 billion for the full year of 2008, up 11%, compared with the net sales of $2.20 billion in the previous year-end. It has also reported a net income of $416.5 million, or $4.06 per diluted share, for the full year of 2008, compared with the net income of $406.4 million, or $3.84 per diluted share, in the previous year-end.

Fourth quarter 2008 net sales were $634.2 million, an increase of 9% over the prior-year period. Excluding the impact of foreign exchange, fourth quarter 2008 net sales increased 12% over the prior-year period.

For the fourth quarter 2008, net sales in the US were $436.3 million and net sales outside the US were $197.9 million, an increase of 11% and 4%, respectively, over the prior-year period. Excluding the impact of foreign exchange, fourth quarter 2008 net sales outside the U.S. increased 14% over the prior-year period.

Excluding the impact of foreign exchange, full year 2008 net sales increased 10% over the prior-year period.

For the fourth quarter 2008, net income was $149.4 million and diluted earnings per share were $1.47, an increase of 42% and 46%, respectively, as against fourth quarter 2007 results. Adjusting for items that affect comparability between periods as detailed in the tables below, fourth quarter 2008 net income was $121.1 million and diluted earnings per share were $1.19, an increase of 15% and 18%, respectively, as against fourth quarter 2007 results.

Adjusting for items that affect comparability between periods, full year 2008 net income was $455.4 million and diluted earnings per share were $4.44, an increase of 13% and 16%, respectively, as against full year 2007 results.

Timothy M. Ring, chairman and chief executive officer, commented, “We are pleased to report strong revenue and earnings results for the fourth quarter and full year 2008. Bard has built a consistent record of performance, delivering adjusted EPS growth above our 14% target for six consecutive years. We have achieved this through successful product innovation, a commitment to market leadership and the talent and hard work of our employees around the world. The strength of our broad product portfolio and our healthy financial condition position us well for continued success.”