Bard Q4 earnings slip, FY09 up due to higher sales

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C. R. Bard has reported an increase in net income for the fiscal year 2009, despite an earnings dip in the 2009 fourth quarter that ended Dec. 31.

For the fourth quarter of 2009, net income attributable to common shareholders was $105.9 million, a decrease of 29 percent as compared to fourth-quarter 2008 results, according to the company. For full-year 2009, net income attributable to common shareholders was $460.1 million, an increase of 10 percent as compared to full-year 2008 results.

The fourth-quarter 2009 net sales were $676.9 million, an increase of 7 percent over the prior-year period. Net sales for full-year 2009 were $2.5 billion, an increase of 3 percent over the prior-year period.

The Murray Hills, N.J.-based Bard attributed its returns to tax provisions on acquisition costs for research and development, as well as some contract terminations.