C.R. Bard Inc, symbol BCR on New York, makes medical devices in four main areas: vascular products (28% of sales) such as stents and catheters; oncology products (27%) that detect and treat various types of cancer; urology products (26%) such as drainage and incontinence devices; and surgical tools (16%). Other medical products supply the remaining 3%.
In the first quarter of 2011, Bard’s sales rose 7.6%, to $700.3 million from $650.8 million a year earlier. Earnings gained 9.1% to $131.9 million, or $1.49 per share. The stock market pick earned $121.2 million, or $1.24 a share, a year earlier.
The company has several plans to spur its growth. For example, it aims to increase its international sales, which now account for 30% of total sales. As well, Bard wants to launch more new products. Research expenses of $48.0 million represented 6.9% of sales, compared with $40.6 million, or 6.2% of sales, in 2010. Bard intends to spend 7.5% of its sales on research in 2011.
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