C.R. Bard Inc. (BCR, Financial) filed Quarterly Report for the period ended 2010-03-31.
C.r. Bard Inc. has a market cap of $8.14 billion; its shares were traded at around $84.87 with a P/E ratio of 16.4 and P/S ratio of 3.2. The dividend yield of C.r. Bard Inc. stocks is 0.8%. C.r. Bard Inc. had an annual average earning growth of 14.8% over the past 10 years. GuruFocus rated C.r. Bard Inc. the business predictability rank of 4.5-star.BCR is in the portfolios of Jim Simons of Renaissance Technologies LLC, Jeremy Grantham of GMO LLC, George Soros of Soros Fund Management LLC, Steven Cohen of SAC Capital Advisors, Chuck Royce of Royce& Associates.
Interest expense - Interest expense was $2.9 million and $3.0 million for the quarters ended March 31, 2010 and 2009, respectively.
The company reported net income attributable to common shareholders and diluted earnings per share available to common shareholders for the quarter ended March 31, 2010 of $120.9 million and $1.24, respectively. The current year period reflects acquisition related items, consisting primarily of legal costs, of $1.5 million, or $0.02 per diluted share. The company reported net income attributable to common shareholders and diluted earnings per share available to common shareholders for the prior year quarter of $112.5 million and $1.10, respectively. Net income attributable to common shareholders for the prior year period reflects an after tax restructuring charge of $6.5 million, or $0.07 per diluted share.
For the three months ended March 31, 2010 and 2009, net cash provided by operating activities was $181.4 and $170.9 million, respectively. The increase reflects improvements in working capital.
For the three months ended March 31, 2010, the company used $23.1 million in cash for investing activities, compared to the $40.3 million used in the prior year period. The prior year period included contingent milestone payments of $27.0 million associated with the acquisition of assets of the LifeStent® family of stents from Edwards Lifesciences. The purchase of short-term investments was $13.4 million for the three month period ended March 31, 2010. Capital expenditures were approximately $9.2 million and $11.1 million for the three month periods ended March 31, 2010 and 2009, respectively.
For the three months ended March 31, 2010, the company used $103.6 million in cash for financing activities, compared to the $49.0 million used in the prior year period. Total debt was $149.8 million at both March 31, 2010 and December 31, 2009. Total debt to total capitalization was 6.3% and 6.4% at March 31, 2010 and December 31, 2009, respectively. The company spent approximately $97.9 million to repurchase 1,200,000 shares of common stock in the three months ended March 31, 2010 compared with approximately $36.4 million to repurchase 425,000 shares of common stock in the prior year period. The company paid cash dividends of $0.17 per share and $0.16 per share for the three month periods ended March 31, 2010 and 2009, respectively.
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C.r. Bard Inc. has a market cap of $8.14 billion; its shares were traded at around $84.87 with a P/E ratio of 16.4 and P/S ratio of 3.2. The dividend yield of C.r. Bard Inc. stocks is 0.8%. C.r. Bard Inc. had an annual average earning growth of 14.8% over the past 10 years. GuruFocus rated C.r. Bard Inc. the business predictability rank of 4.5-star.BCR is in the portfolios of Jim Simons of Renaissance Technologies LLC, Jeremy Grantham of GMO LLC, George Soros of Soros Fund Management LLC, Steven Cohen of SAC Capital Advisors, Chuck Royce of Royce& Associates.
Highlight of Business Operations:
Bards United States net sales for the quarter ended March 31, 2010 of $454.5 million increased 8% compared to $422.5 million in the prior year quarter. International net sales for the quarter ended March 31, 2010 of $196.3 million increased 13% on a reported basis (4% on a constant currency basis) compared to $173.9 million in the prior year quarter.Interest expense - Interest expense was $2.9 million and $3.0 million for the quarters ended March 31, 2010 and 2009, respectively.
The company reported net income attributable to common shareholders and diluted earnings per share available to common shareholders for the quarter ended March 31, 2010 of $120.9 million and $1.24, respectively. The current year period reflects acquisition related items, consisting primarily of legal costs, of $1.5 million, or $0.02 per diluted share. The company reported net income attributable to common shareholders and diluted earnings per share available to common shareholders for the prior year quarter of $112.5 million and $1.10, respectively. Net income attributable to common shareholders for the prior year period reflects an after tax restructuring charge of $6.5 million, or $0.07 per diluted share.
For the three months ended March 31, 2010 and 2009, net cash provided by operating activities was $181.4 and $170.9 million, respectively. The increase reflects improvements in working capital.
For the three months ended March 31, 2010, the company used $23.1 million in cash for investing activities, compared to the $40.3 million used in the prior year period. The prior year period included contingent milestone payments of $27.0 million associated with the acquisition of assets of the LifeStent® family of stents from Edwards Lifesciences. The purchase of short-term investments was $13.4 million for the three month period ended March 31, 2010. Capital expenditures were approximately $9.2 million and $11.1 million for the three month periods ended March 31, 2010 and 2009, respectively.
For the three months ended March 31, 2010, the company used $103.6 million in cash for financing activities, compared to the $49.0 million used in the prior year period. Total debt was $149.8 million at both March 31, 2010 and December 31, 2009. Total debt to total capitalization was 6.3% and 6.4% at March 31, 2010 and December 31, 2009, respectively. The company spent approximately $97.9 million to repurchase 1,200,000 shares of common stock in the three months ended March 31, 2010 compared with approximately $36.4 million to repurchase 425,000 shares of common stock in the prior year period. The company paid cash dividends of $0.17 per share and $0.16 per share for the three month periods ended March 31, 2010 and 2009, respectively.
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