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C.R. Bard reports YOY increase in Q4'16 net income

C. R. Bard Inc. reported fourth-quarter 2016 net income available to common shareholders of $158.8 million, or $2.11 per share, up from $134.4 million, or $1.79 per share, in the fourth quarter of 2015.

On an adjusted basis, net income available to common shareholders was $207.7 million, or $2.77 per share, versus $182.4 million, or $2.43 per share, in the year-ago period.

The S&P Capital IQ consensus normalized EPS estimate for the quarter was $2.74.

C. R. Bard reported fourth-quarter net sales of $967.1 million, up 11% from $870.8 million, in the comparable prior-year period. Excluding the foreign exchange impact, net sales rose 12%.

The company anticipates an increase between 4% and 5% for its 2017 net sales. Excluding the foreign exchange impact, 2017 net sales are expected to increase between 6% and 6.5%. EPS for 2017, after adjusting for amortization of intangibles and certain items that affect comparability between periods, is expected to be in the range of $11.45 to $11.75.

The S&P Capital IQ consensus normalized EPS estimate for 2017 is $11.47.

For the full year 2016, net income available to common shareholders was $528.8 million, or $7.03 per share, compared with $133.5 million, or $1.77 per share, in 2015.

On an adjusted basis, 2016 net income available to common shareholders was $773.6 million, or $10.29 per share, versus $684.9 million, or $9.08 per share, a year ago. The S&P Capital IQ consensus normalized EPS estimate for 2016 was $10.26.