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 1.4% after-hours, to $71.83, 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. However, sales fell last quarter, and the company said distributors in the U.S. would probably reduce inventory.

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%.

Vasular sales saw 11% growth on a constant-current basis, or 3% overall. Oncology saw gains of 6% and 2% respectively, while urology had a 3% increase, excluding currency changes. 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