The Murray Hill, N.J.-based firm shifted product lines it acquired to the upstate New York plant, vice president & treasurer Scott Lowry told the Post Star. Bard laid off 55 workers in July 2012 and another 54 last November, according to the newspaper.
Lowry said the acquisitions of Lutonix, Loma Vista Medical and FlowCardia prompted it to move production of those products to Queensbury, according to the paper.
“We’ll keep our fingers crossed, because that would mean we’re doing well with these products. That’s the hope,” he said, noting that about 15 more positions could be added to the 685 jobs at the plant.
Bard last week posted profits of $93.2 million, or $1.15 per share, on sales of $758.0 million for the 3 months ended Sept. 30. Although that’s a profit slide of 27.9% on sales growth of 4.9% compared with Q3 2012, adjusted earnings per share reached $1.50 – handily beating The Street’s $1.40 forecast.