BARD ANNOUNCES FINANCIAL RESULTS - REPORTS RECORD SALES YEAR.MURRAY HILL Murray Hill may refer to one of the following places:
Sales of $1.018 billion were up 5 percent over the prior year. Earnings per share for the year were $1.44, up 35 percent over the $1.07 reported in 1993, with both years including one-time one-time adj. 1. or one·time a. Occurring or undertaken only once: a one-time winner in 1995. b. charges. "Bard has now passed a significant milestone “Milemarker” redirects here. For the American indie rock band, see Milemarker (band). A milestone or kilometre sign is one of a series of numbered markers placed along a road at regular intervals, typically at the side of the road or in a median. in reaching a billion dollars in sales," commented William William, crown prince of Germany William or Frederick William, 1882–1951, crown prince of Germany, son of William II. In World War I he commanded (1914) an army on the Western Front and was nominal commander in the German attack H. Longfield, president and chief executive officer. "Our size allows us to utilize our breadth of product line in providing better and more cost effective patient care. We will continue to focus on our market share positions and the service efficiencies we can generate for our customers." Net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for the fourth quarter totaled $262.6 million, up 6 percent over the $247.0 million reported last year. International sales of $87.8 million accounted for 33 percent of total quarterly revenue. The effect of currency translation was to increase international sales by about 7 percent in the quarter. Net income for the quarter totaled $6.0 million, or 11 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. . Fourth quarter net income included a one-time after-tax af·ter-tax also af·ter·tax adj. Relating to or being that which remains after payment, especially of income taxes: after-tax profits. charge of $16.9 million or 33 cents per share previously announced by Bard on December 28, 1994. For the full year 1994, Bard reported net sales of $1,018.2 million, up 5 percent over the $970.8 million in 1993. Net income of $74.9 million was 34 percent above the $56.0 million reported a year earlier. Earnings per share of $1.44 versus $1.07 were up 35 percent. 1993 included four one-time items, the net effect of which was a charge to after-tax earnings of 50 cents per share. The 1994 results included a 33 cent per share fourth quarter charge. Adjusting for these events, Bard's net income per share comparison would have been $1.77 versus $1.57, a 13 percent increase. Selected financial data is attached to this report. Full audited financial statements (P&L and balance sheets) are scheduled for release on February February: see month. 9, 1995. C. R. Bard C. R. Bard, Inc. (NYSE: BCR) is one of the large S&P 500 companies of the United States, a surgical specialties and hospital medical device manufacturer in Murray Hill, New Jersey. It is named after its founder, who sold the company within only a few years of its founding. , Inc., headquartered in Murray Hill, NJ, is a leading multinational multinational Of, relating to, or being a company with subsidiaries or other operations in a number of countries. The diversity of operations of such companies subjects them to unique risks (for example, exchange rate changes or government nationalization) developer, manufacturer and marketer of health care products. -0- Note: A recorded announcement giving financial performance details for the quarter and the year is available by calling (908) 277-8300 or 277-8301. -0-
C. R. BARD, INC. AND SUBSIDIARIES
COMPARATIVE INCOME SUMMARY
(thousands except per share figures)
Quarter Ended Twelve Months Ended
December 31, December 31,
Percent Percent
1994 1993 Change 1994 1993 Change
Net sales $262,600 $247,000 6 $1,018,200 $970,800 5 Income before accounting change 6,000 40,100 (85) 74,900 62,100 21 Effect of change in accounting principle, net of taxes --- --- -- --- (6,100) -- Net income $6,000 $40,100 (85) $74,900 $56,000 34 Income per share before effect of accounting change $.11 $.77 (86) $1.44 $1.19 21 Net income per share $.11 $.77 (86) $1.44 $.07 35 Average shares outstanding 52,005 52,197 -0-
Note: Reflected in the fourth quarter ended December 31, 1994 is
a 33 cents per share charge for the settlement of a lawsuit and for
other costs related to Bard's USCI division. During the fourth
quarter ended December 31, 1993, the Company recognized a one-time
gain of 37 cents per share from the sale of its Ventritex, Inc.
common stock holdings.
PRODUCT GROUP SUMMARY OF NET SALES
Quarter Ended Twelve Months Ended
December 31, December 31,
Percent Percent
1994 1993 Change 1994 1993 Change
Cardiovascular $91,600 $95,000 (4) $372,000 $ 83,900 (3) Urological 77,900 66,800 17 292,800 252,600 16 Surgical 93,100 85,200 9 353,400 34,300 6 Net Sales $262,600 $247,000 6 $1,018,200 $970,800 5 CONTACT: C.R. Bard, Inc., Murray Hill E. L. Parker 908/277-8059 |
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