C.R. Bard Inc., parent company of Davol Inc. in Lawrence, said Tuesday that its sales rose in the fourth quarter as it continues to review its planned acquisition by Tyco International.
Murray Hill, N.J.-based C.R. Bard said profits increased to $39.3 million, or 74 cents per diluted share, from $8.3 million, or 16 cents per share, a year ago. The year-ago period included 47 cents per share in one-time expenses.
Analysts had expected earnings for the fourth quarter of 73 cents to 74 cents a share, for a consensus of 74 cents, according to Thomson Financial/First Call.
C.R. Bard, which makes health-care products for urology, oncology and surgical uses, reported that revenues rose to $302.8 million from $280.3 million.
Bard said it was discussing with Tyco the proposed merger agreement, but did not elaborate. Bard, which agreed in May 2001 to be bought by Tyco, last week said it was reviewing the effect of Tyco's anticipated break-up plan which would spinoff healthcare and other business units into separately traded public companies on the merger.
C.R. Bard owns Davol, whose plant at 700 E. 22nd St. has about 140 employees and produces disposable medical products, including irrigation syringes.
Tyco's acquisition of C.R. Bard was to have closed by Jan. 31, but the deadline was pushed back to March 31. Employees in Lawrence are keeping a close eye on developments, said Dan Scheck, plant manager.
"Both corporations have publically expressed the desire to go forward with the deal," he said. "That's all we know."
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