C. R. Bard, Inc. (BCR) reported a fall in first quarter profit. Net income was $90.7 million and earnings per share available to common shareholders of $1.08, compared to $138.70 million or $1.60 per share in the same quarter last year. The latest quarter results primarily reflected higher costs and expenses from the year-ago quarter.
For the quarter, total expenses and costs were $612.70 million, up from $538.60 million a year ago.
On an adjusted basis fourth quarter profit totaled $120.7 million and earnings per share available to common shareholders were $1.44.
Analysts polled by Thomson Reuters expected the company to earn $1.42 per share for the quarter. Analysts' estimates typically exclude special items.
However, quarterly net sales rose to $740.40 million, an increase of 1 percent over $740.00 million in the prior-year period on a reported basis, while the Street expected revenues of $728.45.
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