Tough Q4 Dampens Waters' Earnings
Despite a rough fourth quarter, Waters Corp. of Milford reported a 2008 revenue increase of 7 percent compared to the prior year and profits that increased more than 20 percent over the same period.
For the year, the company reported revenue of $1.58 billion compared to $1.47 billion in 2007. Profits for the year were $322 million compared to $268 million the prior year.
The company, which makes scientific equipment, reported a 4 percent sales decrease and flat profits for the fourth quarter. The company said the quarter's results were hurt by unfavorable "foreign currency translation."
Fourth quarter sales would have been reported as flat without the effects of unfavorable exchange rates, the company said.
Waters said it expects "to continue to encounter" the challenges it faced in the fourth quarter in 2009.
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