DOW JONES NEWSWIRES
Waters Corp.'s (WAT) first-quarter profit jumped 25%, topping
expectations, as sales climbed.
The laboratory-equipment maker has reported improved results in
recent quarters as demand has increased. Chairman and Chief
Executive Douglas Berthiaume said the company's Asian business
continued to expand while the pharmaceuticals market was benefiting
from "an overall healthier spending environment."
Waters reported earnings of $94.5 million, or $1.01 a share, up
from $75.5 million, or 79 cents, a year earlier. Excluding
restructuring costs, asset write-downs and tax benefits, earnings
climbed to $1.04 a share from 81 cents.
Sales rose for the sixth straight quarter, climbing 16% to
$427.6 million, or 14% on a currency neutral basis.
The company in January projected earnings of 90 cents to 95
cents on revenue of $400.8 million to $404.5 million.
Gross margin remained at 60.3%.
Shares closed Monday at $90.73 and were inactive premarket. The
stock is up 30% over the past year.
-By Ian Thomson, Dow Jones Newswires; 212-416-2314;
ian.thomson@dowjones.com