C.R. Bard, Inc. (Bard), a company engaged in the design, manufacture, packaging, distribution and sale of medical devices, has reported net sales of $596.4 million for the first quarter of 2009, up 2%, compared with the net sales of $584 million in the year ago quarter. It has also reported a net income of $112.5 million, or $1.10 per diluted share, for the first quarter of 2009, compared with the net income of $78 million, or $0.75 per diluted share, in the year ago quarter.
For the first quarter ended March 31, 2009, net sales in the US were $422.5 million and net sales outside the US were $173.9 million, an increase of 6% and a decrease of 6%, respectively, over the prior-year period. Excluding the impact of foreign exchange, first quarter 2009 net sales outside the US increased 7% over the prior-year period.
Timothy M. Ring, chairman and chief executive officer, commented, “Despite a challenging sales quarter, due primarily to currency headwinds and distributor inventory reductions, we delivered solid adjusted EPS growth. We accomplished this through gross margin expansion and diligent expense management without compromising our investment in R&D. Our business is healthy and growing, and we remain confident in our long-term strategy.”