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Home » C.R. Bard’s Q3 sales rise 3 percent

C.R. Bard’s Q3 sales rise 3 percent

October 21, 2009 By MassDevice staff

C.R. Bard Inc. managed to post gains in sales and earnings during the third quarter, despite the weak dollar’ bite on its international sales, which took a 7 percent gain into negative territory.

The Murray Hill, N.J.-based medical devices giant said it posted net income of $129.5 million on sales of $637 million during the three months ended Sept. 30, compared with net income of $111.2 million on $616.8 million in sales during the same period last year. Those add up to an income gain of 16.5 percent and a sales gain of 3.3 percent.

The picture changes substantially once the sting of foreign exchange rates is excluded, however; third-quarter sales rose 6 percent under that scenario, and Bard’s $194.4 million in international sales went from a decline of 1 percent to a 7 percent gain.

Bard managed to reduce costs nearly across the board, the sole exception being its research & development budget. Cost of goods sold fell by nearly 1 percent and marketing, selling and administrative expenses by 3.5 percent; R&D costs rose by 1.1 percent. Total third-quarter costs fell by nearly 3 percent to $451.8 million, compared with $455.5 million during the 2008 third quarter.

Filed Under: Business/Financial News, MassDevice Earnings Roundup

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