Bard reports 12% increase in net sales

C R Bard has announced its financial results for the 2006 fiscal year, reporting a 12 per cent increase in net sales to $1,985.5 (1,013.9 million pounds). For the fourth quarter of the year, the company reported a 15 per cent increase in net sales to $520.9 million.

Net income for the year fell 19 per cent to $272.1 million, with diluted earnings per share falling 18 per cent to $2.55, while, when adjustments were made for items affecting comparability between fiscal periods, net income rose 17 per cent, with diluted earnings per share increased by 18 per cent.

Timothy M Ring, chairman and chief executive officer of Bard, said: “We are pleased to report strong results for the fourth quarter and full year 2006.

“This marks the fourth consecutive year in which Bard has delivered adjusted earnings growth above the company’s target of 14 per cent.”

He added that the company’s financial success in 2006 had been achieved through market leadership and product innovation in conjunction with the effort of its staff, while Bard forecast revenues in 2007 to exceed $2 billion.

Last month the company announced a quarterly dividend on its common stock of 14 cents per share, with the current annual dividend reported as 56 cents per share, to be paid on February 2nd 2007.