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Waters 2Q Net Up 18% On Strong Asian Sales, New Products

DOW JONES NEWSWIRES Waters Corp.'s (WAT) second-quarter profit jumped 18% as revenue continued to climb. "Strong Asian sales and positive customer acceptance of our new product offerings highlighted Waters quarterly performance," Chairman and Chief Executive Douglas Berthiaume said. "Overall business trends in the quarter suggest solid underlying demand and continued support for our current product and market initiatives." The laboratory-equipment maker has reported strong results in recent quarters on higher demand. The company has seen business in Asia continue to expand as improved market conditions and new-product development have boosted overall sales growth. Waters reported earnings of $100.1 million, or $1.07 a share, up from $84.9 million, or 90 cents, a year ago. Excluding writedowns, tax adjustments and other items, earnings climbed to $1.08 from 93 cents. Sales rose for the seventh straight quarter, increasing 14% to $447.6 million. Foreign currency translation contributed 6% to sales growth. In April, the company forecast earnings per share of $1.10 and $1.15 on revenue of about $449.7 million, both higher than analyst estimates at the time. Gross margin widened to 60.7% from 60.3%. Research and development expenses increased 10%. Shares closed at $97.10 Monday and were inactive premarket. The stock is up 47% over the past 12 months. -By Nathalie Tadena, Dow Jones Newswires; 212-416-3287; nathalie.tadena@dowjones.com

Stock News for Waters (WAT)
DateTimeHeadline
09/19/201611:02:00Waters Advances Proteomics and Lipidomics Research with Novel...
09/09/201615:45:35Statement of Changes in Beneficial Ownership (4)
09/08/201615:30:00Waters Corporation Commentary at the Morgan Stanley Global Healthcare...
08/24/201611:23:26Statement of Changes in Beneficial Ownership (4)
08/23/201614:34:00Waters and NIBRT Researchers Generate Reference Library for Released...
08/22/201616:01:33Statement of Changes in Beneficial Ownership (4)
08/22/201614:26:57Statement of Changes in Beneficial Ownership (4)
08/22/201614:21:57Statement of Changes in Beneficial Ownership (4)
08/18/201606:15:29Statement of Changes in Beneficial Ownership (4)
08/17/201610:00:00Waters Expands Microscale Separations Science Portfolio
08/17/201606:11:28Statement of Changes in Beneficial Ownership (4)
08/16/201610:00:00Waters Recognizes Dr. Sunghwan Kim of Kyungpook National University
08/16/201606:15:38Statement of Changes in Beneficial Ownership (4)
08/15/201608:30:00VICAM’s Afla-V AQUA Strip Test Receives USDA-GIPSA Certification f...
08/09/201606:15:15Statement of Changes in Beneficial Ownership (4)
08/05/201609:33:47Quarterly Report (10-q)
08/05/201606:54:50Statement of Changes in Beneficial Ownership (4)
08/02/201610:58:33Statement of Changes in Beneficial Ownership (4)
08/02/201610:39:30Statement of Changes in Beneficial Ownership (4)
08/01/201611:49:28Statement of Changes in Beneficial Ownership (4)

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