("CR Bard 2Q Profit Up 41% On Margins, 2008 Charges," published at 4:46 p.m. EDT, misstated the profit growth in the headline. A corrected story appears below.)

 
   DOW JONES NEWSWIRES 
 

C.R. Bard Inc.'s (BCR) second-quarter profit jumped 44% on higher margins and prior-year charges as the medical device maker also saw slight sales gains.

Shares fell 1.2% after-hours, to $72.00, as revenue fell short of analysts' expectations.

Bard's varied portfolio of often-disposable products seemed to protect it from hospital cutbacks, which first targeted big-ticket items.

But in April, the company said it would cut costs to protect its goal of 14% earnings-per-share growth this year. It also increased its quarterly dividend in June.

C.R. Bard posted a profit of $112.2 million, or $1.11 a share, up from $77.9 million, or 76 cents a share, a year earlier. Excluding restructuring and other charges, earnings rose to $1.23 from $1.10.

Revenue climbed 1.2%, to $624.6 million, or 6% excluding currency changes.

Analysts surveyed by Thomson Reuters predicted earnings of $1.21 a share on revenue of $634 million.

Gross margin was 61.8% from 60.6%.

Vascular sales saw 11% growth on a constant-currency basis, or 3% overall. Oncology sales rose 2%, or 6%, excluding the currency impact, while urology had a 3% increase, excluding the currency impact. Total urology sales fell 1%, helping narrow the gap between urology, Bard's biggest-selling category by revenue, and vascular and oncology. All three are similar-sized.

-By Joan E. Solsman and Kevin Kingsbury, Dow Jones Newswires; 212-416-2291; joan.solsman@dowjones.com