DOW JONES NEWSWIRES 
 

C.R. Bard Inc.'s (BCR) first-quarter net income jumped 45% on higher margins and prior-year acquisition costs as revenue fell short of expectations.

In after-hours trading, Bard shares fell 0.9% to $77.

Makers of medical devices have been hurt as the recession forces hospitals and individuals to cut back, though Bard's less-discretionary product mix may make it less susceptible to oscillations in the economy. But hospitals have been cutting back spending as well.

Bard reported net income of $113.2 million, or $1.10 per share, compared with $78 million, or 75 cents a share, a year earlier. Excluding restructuring and acquisition costs, earnings rose to $1.17 from $1.05. In late January, the company projected adjusted earnings of $1.16 to $1.18 a share, just below analysts' expectations at the time.

Sales climbed 2.1% to $596.4 million. Adjusting for the stronger dollar, sales climbed 6%. Analysts, as surveyed by Thomson Reuters, most recently anticipated $620 million.

Gross margin rose to 63.4% from 61.4% on lower costs.

The oncology segment saw the biggest sales gain, 7%, helping make it the biggest division at Bard for the quarter. Urology posted a 3% drop while vascular-product sales rose 5%.

-By Jay Miller and Kevin Kingsbury, Dow Jones Newswires; 201-938-2331; jay.miller@dowjones.com