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Bard Updates First Quarter Guidance

MURRAY HILL, N.J.--(BUSINESS WIRE)--March 16, 2005--C. R. Bard, Inc. (NYSE-BCR) today announced that it expects first quarter 2005 earnings to exceed prior guidance. The company now expects earnings per share excluding the impact of certain items to be above $0.70 on an ongoing net sales increase in the range between 10 and 13 percent in constant currency. In its fourth quarter 2004 earnings call, the company had indicated that it expected to earn between $0.65 and $0.66 per share for the quarter.

Chairman and Chief Executive Officer, Timothy M. Ring, commented, "We are pleased that 2005 is off to a solid start. Strong gross margin performance coupled with lower than expected spending levels in the first quarter are the primary drivers. We anticipate increased R&D investment throughout the balance of the year; therefore our full-year guidance remains unchanged."

C. R. Bard, Inc., (www.crbard.com) headquartered in Murray Hill, N.J., is a leading multinational developer, manufacturer, and marketer of innovative, life-enhancing medical technologies in the fields of vascular, urology, oncology, and surgical specialty products.

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are based on management's current expectations, the accuracy of which is necessarily subject to risks and uncertainties. These statements are not historical in nature and use words such as "anticipate", "estimate", "expect", "project", "intend", "forecast", "plan", "believe", and other words of similar meaning in connection with any discussion of future operating or financial performance. Many factors may cause actual results to differ materially from anticipated results including product developments, sales efforts, expenses, the outcomes of contingencies such as legal proceedings, and other economic, business, competitive and regulatory factors. The company undertakes no obligation to update its forward-looking statements. Please refer to our December 31, 2004 10-K for more detailed information about these and other factors that may cause actual results to differ materially from those expressed or implied.

"Net sales on a constant currency basis", "ongoing net sales" and "net income and diluted earnings per share excluding certain items" are non-GAAP financial measures. The company analyzes net sales on a constant currency and ongoing basis to better measure the comparability of results between periods. Because changes in foreign currency exchange rates have a non-operating impact on net sales, the company believes that evaluating growth in net sales on a constant currency basis provides an additional and meaningful assessment of net sales. The company believes that comparing ongoing net sales between periods provides an additional and meaningful analysis of comparable operations. Net income and EPS excluding certain items are used by the company to measure the comparability of results between periods. Because certain items such as divestiture activity and litigation outcomes may not reflect underlying operating results, the company believes the exclusion of these and similar items provides an additional and meaningful assessment of net income and EPS. The limitation of these non-GAAP measures is that, by excluding certain items, they do not reflect results on a standardized reporting basis. All non-GAAP financial measures are intended to supplement the applicable GAAP disclosures and should not be viewed as a replacement for GAAP results.

CONTACT: C. R. Bard, Inc.
Investor Relations:
Eric J. Shick, 908-277-8413
or
Media Relations:
Holly P. Glass, 703-754-2848

SOURCE: C. R. Bard, Inc.


bard-pubs

Primary Media Relations Contact

Scott Lowry
Vice President and Treasurer
C. R. Bard, Inc.
730 Central Avenue
Murray Hill, NJ 07974

Tel: 908-277-8365