C. R. Bard Updates 2017 Guidance - Quick Facts

(RTTNews) - C. R. Bard, Inc. (BCR) announced, for full year 2017, earnings per share, after adjusting for amortization of intangibles and certain items, are projected to be between $11.85 and $11.90. Previously, after adjusting for amortization of intangibles and certain items, earnings per share were projected to be between $11.70 and $11.90.

For the full year 2017, net sales are forecasted to increase between 5.5 percent and 6 percent on an as-reported basis. Previously, net sales were forecasted to increase between 5 percent and 6 percent on an as-reported basis. The company maintained its prior full-year constant currency revenue guidance.

Adjusting for amortization of intangibles and certain items, third-quarter net income was $227.9 million and earnings per share were $3.02, both increased 14 percent as compared to third quarter 2016 results. Third-quarter net sales were $989.8 million, an increase of 5 percent over the prior-year period on an as-reported basis. Excluding the impact of foreign exchange, third quarter 2017 net sales also increased 5 percent over the prior-year period.

C. R. Bard also provided an update on the status of its Puerto Rico manufacturing operations. The company said it has accounted for all of its employees in Puerto Rico and all are safe. The company's facilities on the island sustained minor damage that has since been repaired. Manufacturing has recently resumed and is operating normally, but under generator power at this time. The company expects the disruption in manufacturing to have a negative impact on fourth quarter revenue and operations, but expects this impact to be temporary in nature and to be resolved by the end of 2017.

Timothy Ring, CEO, said: "After over 110 years of operations, with 54 years as a public company, we believe this to be our last quarterly report as a stand-alone company, as we expect the merger with Becton, Dickinson and Company to be completed before the next reporting cycle."