Bard net income takes hit in Q2

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C. R. Bard reported a drop in net income despite a 13 percent increase in net sales for its 2008 second quarter financial results.

For the quarter, the Murray Hill, N.J.-based company reported U.S. net sales were $406.3 million and net sales outside the United States were $210.8 million, an increase of 8 percent and 23 percent, respectively, over the prior-year period. Excluding the impact of foreign exchange, second quarter 2008 net sales outside the United States increased 13 percent over the prior-year period.

Second quarter 2008 net sales were $617.1 million, an increase of 13 percent over the prior-year period. Excluding the impact of foreign exchange, second quarter 2008 net sales increased 10 percent over the prior-year period, the company said.

C.R. Bard booked a net income of $77.9 million, a decrease of 20 percent, compared $97.5 million in the second quarter of 2007. Excluding special charges, second quarter 2008 net income was $112.8 million, an increase of 14 percent compared to last year.