Waters' Earnings Benefit From Currency Exchange
Milford-based laboratory equipment manufacturer Waters Corp. reported a 13 percent increase in quarterly sales year-over-year and a 7 percent uptick in profits after the company benefited from a favorable currency exchange rate.
The company reported a $101 million profit on $454 million in revenues for the third quarter.
Through three quarters of the year, revenues and profits are up 15 percent each, with the company collecting $295 million on $1.3 billion in revenues.
The company benefited from a 4-percent boost in revenues during the quarter because of favorable currency exchanges, and a 5-percent bump through the first three quarters of this year because of exchange rates.
Company President and CEO Douglas Berthiaume said revenue increases were spread across geographic regions and customer bases. The company has 5,400 employees internationally.
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