4th-quarter sales up 3% at Waters
Milford-based laboratory instrument manufacturer Waters Corp. reported a 3-percent bump in sales for the fourth quarter and a 6.8-percent increase in net income as the company cited organic sales growth and demand from pharmaceutical companies for its products.
Waters reported sales of $584 million, an increase of 19 million over the same quarter last year. Meanwhile, the company's net income, $151 million, or $1.82 per share, rose from $141 million, or $1.67 a share.
For the full year, Waters took in $1.99 billion in sales, up 4 percent from $1.9 billion last year. Foreign currency translations reduced overall sales by 2 percent, the company reported. However, the company’s net income, $431.6 million, trails that of 2013, when it profited $450 million.
In 2014, Waters announced the acquisition of virtually all assets of Hungarian technology firm MediMass. The value of the deal was not disclosed.
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