C.R. Bard Inc. (BCR, Financial) filed Amended Annual Report for the period ended 2009-12-31.
C.r. Bard Inc. has a market cap of $8.32 billion; its shares were traded at around $89.57 with a P/E ratio of 16.4 and P/S ratio of 3.3. The dividend yield of C.r. Bard Inc. stocks is 0.8%. C.r. Bard Inc. had an annual average earning growth of 15.7% over the past 10 years. GuruFocus rated C.r. Bard Inc. the business predictability rank of 5-star.BCR is in the portfolios of Donald Yacktman of Yacktman Asset Management Co., John Hussman of Hussman Economtrics Advisors, Inc., Pioneer Investments, Jim Simons of Renaissance Technologies LLC, Chuck Royce of Royce& Associates, Jeremy Grantham of GMO LLC, George Soros of Soros Fund Management LLC, Steven Cohen of SAC Capital Advisors.
On June 15, 2009, the company acquired worldwide rights and related assets of the hernia products business of Brennen Medical, LLC for $17.0 million. The acquisition included technology for a non-crosslinked xenograft device, which expanded Bards product offerings in hernia repair. In connection with this acquisition, the company discontinued the sale of an existing xenograft device and recorded a related non-cash charge of $5.7 million ($5.2 million after tax).
In January 2008, the company acquired the assets of the LifeStent® family of stents from Edwards Lifesciences Corporation (Edwards Lifesciences). The company received Pre-Market Approval (PMA) from the U.S. Food and Drug Administration (FDA) in February 2009 for use of the LifeStent® in the superficial femoral artery (SFA) and proximal popliteal artery, which resulted in a contingent milestone payment of $27.0 million. The final $15.0 million contingent milestone payment related to the transfer of manufacturing operations to Bard was paid in September 2009.
On April 22, 2009, the company announced a plan (the Plan) to reduce its overall cost structure and improve efficiency. The Plan included the consolidation of certain businesses in the United States and the realignment of certain sales and marketing functions outside the United States. The Plan resulted in the elimination of certain positions and other employee terminations worldwide. The total cost of the Plan was $15.4 million ($10.2 million after tax). Substantially all of these costs are cash expenditures, of which the majority were paid by the end of 2009. The company expects the Plan to result in pre-tax cost savings of approximately $25 million on an annual basis. See Note 3 of the notes to consolidated financial statements.
Bards 2009 United States net sales of $1,759.2 million increased 6% over 2008 United States net sales of $1,661.3 million. Bards 2009 international net sales of $775.7 million decreased 2% on a reported basis and increased 5% on a constant currency basis over 2008 international net sales of $790.8 million. Bards 2008 United States net sales increased 9% over 2007 United States net sales of $1,520.6 million. Bards 2008 international net sales increased 16% on a reported basis and 12% on a constant currency basis over 2007 international net sales of $681.4 million.
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C.r. Bard Inc. has a market cap of $8.32 billion; its shares were traded at around $89.57 with a P/E ratio of 16.4 and P/S ratio of 3.3. The dividend yield of C.r. Bard Inc. stocks is 0.8%. C.r. Bard Inc. had an annual average earning growth of 15.7% over the past 10 years. GuruFocus rated C.r. Bard Inc. the business predictability rank of 5-star.BCR is in the portfolios of Donald Yacktman of Yacktman Asset Management Co., John Hussman of Hussman Economtrics Advisors, Inc., Pioneer Investments, Jim Simons of Renaissance Technologies LLC, Chuck Royce of Royce& Associates, Jeremy Grantham of GMO LLC, George Soros of Soros Fund Management LLC, Steven Cohen of SAC Capital Advisors.
Highlight of Business Operations:
The aggregate market value of the voting stock held by nonaffiliates of the registrant was approximately $7,267,559,518 based on the closing price of stock traded on the New York Stock Exchange on June 30, 2009. As of January 29, 2010, there were 95,657,595 shares of Common Stock, $.25 par value per share, outstanding.On June 15, 2009, the company acquired worldwide rights and related assets of the hernia products business of Brennen Medical, LLC for $17.0 million. The acquisition included technology for a non-crosslinked xenograft device, which expanded Bards product offerings in hernia repair. In connection with this acquisition, the company discontinued the sale of an existing xenograft device and recorded a related non-cash charge of $5.7 million ($5.2 million after tax).
In January 2008, the company acquired the assets of the LifeStent® family of stents from Edwards Lifesciences Corporation (Edwards Lifesciences). The company received Pre-Market Approval (PMA) from the U.S. Food and Drug Administration (FDA) in February 2009 for use of the LifeStent® in the superficial femoral artery (SFA) and proximal popliteal artery, which resulted in a contingent milestone payment of $27.0 million. The final $15.0 million contingent milestone payment related to the transfer of manufacturing operations to Bard was paid in September 2009.
On April 22, 2009, the company announced a plan (the Plan) to reduce its overall cost structure and improve efficiency. The Plan included the consolidation of certain businesses in the United States and the realignment of certain sales and marketing functions outside the United States. The Plan resulted in the elimination of certain positions and other employee terminations worldwide. The total cost of the Plan was $15.4 million ($10.2 million after tax). Substantially all of these costs are cash expenditures, of which the majority were paid by the end of 2009. The company expects the Plan to result in pre-tax cost savings of approximately $25 million on an annual basis. See Note 3 of the notes to consolidated financial statements.
Bards 2009 United States net sales of $1,759.2 million increased 6% over 2008 United States net sales of $1,661.3 million. Bards 2009 international net sales of $775.7 million decreased 2% on a reported basis and increased 5% on a constant currency basis over 2008 international net sales of $790.8 million. Bards 2008 United States net sales increased 9% over 2007 United States net sales of $1,520.6 million. Bards 2008 international net sales increased 16% on a reported basis and 12% on a constant currency basis over 2007 international net sales of $681.4 million.
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