Waters Corp. reports 9% increase in fourth-quarter profits
Photo/Grant Welker
Waters Corp.'s Milford headquarters
Milford life sciences company Waters Corp. reported an 8.8% increase in the company’s fourth quarter, compared to the same quarter in 2019.
In total, Waters’ reported a net income of $218.3 million, compared to $200.7 million during the same quarter a year prior.
Profits for all of 2020, however, were down, with the company reporting $521.6 million in net income, compared with $592.2 million in 2019. That’s an 11.9% decrease.
According to Waters, its pharmaceutical market increased 17% in 2020’s fourth quarter, likely contributing to the profit uptick. Pharmaceutical market sales increased 2% for the company over the span of the entire year.
Other notable increases fell under service and precision chemistries revenues, which rose 14% in the fourth quarter. Sales in Asia also increased 13%.
Overall, fourth quarter sales rose 10%, increasing from $716.3 million to $786.7 million for the fourth quarter.
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